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Preparation for the many unexpected occurrences in life can never come too soon. We educate clients throughout our counsel for them to make decisions based on as much information as we have at the moment as well as to consider the unknowns. The devastating reality of how a medical situation affects a financial outlook is enormous. If the statistics hold true, the average couple retiring at age 65 can expect to pay $220,000 in out of pocket medical expenses during retirement. What is an effective and predictable solution to a $220,000 bill over a 30 year retirement? Is there any compelling use for safe monies that are not necessarily needed for income? Could future medical expenses continued to be paid even when an account on paper has run out of money?
The answers lie in case design, a discussion with you (the advisor) and our team on creative ways to develop a safe, guaranteed solution using annuities. We tend to primarily use annuities for their intended purpose: a predictable INCOME in retirement that cannot be out-lived. How wonderful to know the annual statement can say zero dollars and the client continues to receive their annual check. But, can annuities be used for other predictable purposes? Yes, and quite simply, many advisors don’t consider that next step with annuities for securing a client’s future “non–income” needs. Let us discuss your client’s retirement planning uncertainties and ways you can present alternatives for life’s unpredictable events.
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How can Fixed Indexed Annuities help clients retire on schedule?
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Fixed annuities, with their guaranteed interest rates and guaranteed return of principal (less any withdrawals of interest or principal) can help preserve client’s assets, potentially softening the impact of a choppy stock market on their accounts.
- A conservative approach….. provides the client with safety of principal, tax- advantages, liquidity, and legacy planning.
The Next Big Thing in Annuities: If you’re not talking with your clients about QLACs, expect that your competition is. Learn how big this opportunity really is!
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It is imperative to explore all financial options for the clients- why let a client lapse or surrender a policy when determining there is an alternative. Life Settlements- Life Insurance , like every other asset, has a Market Value. Before your client considers letting a policy go, call us to discuss the specifics. And interestingly, all policy types are considered now for Life Settlements- even convertible term insurance. The reality is: you will set yourself apart from other advisors and agents by educating clients on Life Settlements and the options for the unwanted/unneeded life insurance. Clients remember you told them about an idea that others did not- and isn’t that what we want as agents and financial advisors? To be distinguished as unique, with different and compelling ideas for clients provides them with more than the average agent.
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Are you aware within Fixed Indexed Annuities and Indexed Life Insurance there are 100% participation in the various indices up to the caps? Are you aware there are uncapped (yes uncapped) index strategies allowing the client the full index performance less a spread? Why is any of this important? Because clients have told this industry after 2008 that they no longer can endure the wild rides with their money. They have firmly said they are aware they need some exposure to the non-guaranteed markets, but they now also know they must be more diligent with safety, as their individual lives are uncertain and when retirement happens often is not by choice but more by circumstance.
See the attached White Paper by Allianz Life Insurance Company “Reclaiming the Future”
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