1099R follow up question - is this a Qualifed or Non-qualifed Plan

The 1099-R is from John Hancock Life Insurance Co. Box 7 is Code 7 and the IRA/SEP/SIMPLE box is blank

posted

It is probably NONQUALIFIED. A qualified plan is a retirement plan through an employer or an IRA. Most life insurance plans are nonqualified annuities.

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