Retirement Literacy Study Confirms Lack of Knowledge

In an effort to study the retirement literacy of American adults nearing or in retirement, the American College of Financial Services conducted an online survey of consisting of 38 questions. Participants were aged between 60 and 75 years old with at least $100,000 in household assets, not including their primary residence. According to a recent Chicago Tribune article about the research, the results were startling, showing a significant lack of knowledge in several key areas.74 percent of... Read More

MetLife’s Brighthouse Financial Launches First Annuity Product

On Monday, the consumer life insurance and annuity unit from MetLife Inc., Brighthouse Financial, launched its first new product, a deferred annuity product. The performance of Shield Level 10 is tied to one of three investment indexes, according to a recent article from Business Insider. Last year, MetLife announced its plan to spin off its Brighthouse business, which is still awaiting regulatory approval.The index annuity will initially be distributed by Wells Fargo Advisors, a unit of... Read More

Ideas to Increase Retirement Income

Having enough money to support a full retirement is a concern of most pre- and current retirees. The financial experts over at The Motley Fool, an international multimedia financial services company, have offered up the following four methods to help boost income in retirement.1.  Delay taking Social Security benefits.Once you reach the full retirement age for Social Security purposes, you are eligible to claim your benefits in full. That retirement age is determined based on the year... Read More

Qualified Longevity Annuity Contracts (QLAC) Explained

One of the most attractive aspects of adding an annuity to any retirement portfolio is the peace of mind that comes with guaranteed income in retirement. Two of the more popular annuity products include deferred and longevity annuities, and while they share several similar characteristics, they are very different options, as described in a recent article  from ThinkAdvisor.A deferred annuity includes an initial waiting period before the contract can be annuitized, typically between one and... Read More

Thinking About an Annuity? Consider This…

If you’re preparing to retire in the coming years, and are looking for a way to generate consistent income, you might be considering an annuity. An annuity product is basically a contract between you and an insurance company, where in exchange for a sum of money, you are provided a set amount of income over a predetermined period of time. Annuities are not for everyone, and they do have some disadvantages. They are usually accompanied by some fairly complex rules and can carry significant... Read More

Annuity Questions to Ask Before You Buy

In order to guarantee a stream of income in retirement, many retirees are transforming a portion of their savings into an annuity. An annuity is an insurance product that transfers risk to the insurance company for a fee. According to a recent article from Bankrate, the fees are often worth it when you consider that investors are transferring longevity risk, investment risk and interest rate risk.The most common types of annuities are deferred and immediate annuities. A deferred annuity is... Read More

New Unique Deferred Indexed Annuity from The Standard

Standard Insurance Company (The Standard) has just released a new single premium deferred indexed annuity with returns based on the performance of the J.P. Morgan U.S. Sector Rotator 5 Index. According to a Business Wire press release, Strategic Choice Annuity 7 combines the strength of an annuity contract with the ability to receive interest based on increases in an index.“Strategic Choice Annuity 7 is an excellent option for clients who are interested in the growth potential of the... Read More

Confinement Care Riders 101

According to a recent article by annuity guru Stan Haithcock, deferred annuities with attached confinement care riders are the “most recent overhyped benefit touted by agents.” Although Haithcock does add that they do have a place in many portfolios, but as usual, only if they are fully understood. So what is a confinement care rider and what does it do? Here’s a look at that, and also some ideas on what they DON’T do too.Income riders can be added to some deferred variable and... Read More

Deferred Annuities Offer Tax Advantages to Consumers

Deferred annuity products can offer tax advantages for people looking to grow their wealth as they head towards retirement. In a recent article for Wealth Management, "The Tax Advantages of Deferred Annuities," Nationwide Insurance wrote about how some annuities offer consumers important tax advantages. People use annuity products to create a steady income stream during their retirement, income that can often last for as long as they live. But in addition to paying you an income stream,... Read More

Income Riders, DIAs, QLACs Create Future Annuity Income Stream

In a recent article for The Street, "4 Paths to Future Annuity Income Guarantees," Stan Haithcock explained your options for delaying annuity income until a later date. Many people incorrectly assume that all annuities are immediate, when a large number of them actually defer your income payments. The article says that there are four different ways you can create guaranteed income from an annuity product that will start at some predetermined point in the future. Annuities are the only products... Read More

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