Is a Variable Annuity’s Guaranteed Minimum Withdrawal Benefit Right for Your Client’s Retirement Plan?

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You sell the product; clients buy it. You love the guarantees the product provides in the form of guaranteed minimum withdrawal benefits (GMWB); clients love the guarantee, too. But is it worth the risk? More importantly, is it worth the fee? After all, these guaranteed don’t come cheap: Annual expenses greater than 3 percent are the norm. You are paid handsomely for the sale. And the ongoing fee — if you take an annual fee — can be between 0.25 percent and 1.25 percent. This is all great … [Read more...]

Filed Under: Annuities, Featured Middle Left, Income Planning
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How to Market to Baby Boomers: Insights To Their Mindset You Can Utilize

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For many financial services professionals focusing on the retirement market, the baby boomers provide both the greatest challenge and the greatest opportunity we’ll face in our careers. Some advisors are even in denial, claiming to “work only with seniors.” The fact of the matter is, the first of the boomer generation is turning 62 years old this year. In fact, Jack Marion recently did a study claiming that the average age of an indexed annuity buyer is… you guessed it, 62. No matter … [Read more...]

Filed Under: Annuities, Financial, Highlight Upper Right, Income Planning
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Capitalize on 2011’s $3 Trillion Opportunity

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For those of you not yet aware, the Department of Labor has created a $3 trillion opportunity this year for everyone in the financial services industry. As of July, 2011,all 401(k) plans will be required to start disclosing all of those fees that have been undisclosed since 401(k)s were created. If you know anything about 401(k) plans, you know it's not going to be pretty. Here's a timeline to help you prepare: July 16, 2011: Disclosure to plan sponsors (employers) required October 31, … [Read more...]

Filed Under: Featured Slider, Financial, Income Planning
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The New Boomer Approach

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On January 1, the first baby boomer turned 65. And each day, more join the list of those approaching this new phase. Some boomers are continuing to work, but others are opting for retirement, an ill-defined period in one’s life where he or she is no longer earning a regular income. Clients express various uncertainties about when they will retire and how they will spend the next 20 or 30 years. It’s at this time you must help your clients answer several important questions: What plans are … [Read more...]

Filed Under: Featured Bottom Right, Financial, Income Planning
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Why Creating a Retirement Income Strategy Is like Climbing Down a Mountain

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I firmly believe that as agents and advisors, one of the most important and yet challenging jobs we are called upon to do is to establish a retirement income distribution strategy for our clients, since one of the key goals of a financial or retirement plan is producing income for retirees that can ensure both enjoyment and financial independence in retirement. With this in mind, we cannot take this sophisticated strategy lightly, primarily due to two key facts: 1) There are a large number of … [Read more...]

Filed Under: Featured Middle Right, Financial, Income Planning
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Why Care What Women Want?

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The company I work for has been at the forefront of life insurance companies gaining awareness of the women’s market and its potential for the industry. The company has created Worth®, a financial education program for women, and also conducts annual surveys of women, their attitudes and approaches to financial planning. Yet occasionally, even today, someone will ask, “Why?” The “why” of it grows more obvious every year, and the facts are fairly well known. Women represent … [Read more...]

Filed Under: Featured Slider, Financial, Income Planning, Life
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