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Deferred Income Annuities

New Study: Deferred Income Annuities Could Be Key to Retirement Security

A new study from the Employee Benefit Research Institute found deferred income annuities (DIAs) held within a 401(k) could be a critical component to a secure retirement. According to a recent ThinkAdvisor article, individuals who purchased a DIA at age 65 with no death benefits improved retirement readiness regardless of the age of death if the purchase reflected retirement account percentages on the lower end of the spectrum. The report, titled “Deferred Income Annuity Purchases:... Read More

Prudential Focusing On Annuity Conversation

If you research annuity products online, you’re going to find a plethora of information that both support these financial tools and caution against them. With so much controversy surrounding them, many companies are still skeptical about selling annuities, but one in particular is taking a huge leap in favor of them. New Jersey-based Prudential has committed to not only create new products, but also to change the conversation about them. “Innovation is less about a core income solution... Read More

Annuity Trends: Life-Only Guarantees on the Rise

According to a recent article from InsuranceNewsNet, inquiries about life-only guarantees on income annuities jumped to 26% compared to the previous year, at 22.4%. This is the third year in a row that significant increases in these inquiries were observed. Experts believe this is a result of advisors valuing a higher payout over a death benefit. “When we looked at the data internally that kind of raised some eyebrows,” said Gary Baker, president of CANNEX USA. The trend quotation... Read More

QLACs Gain Momentum With Wealthy Investors

Almost four years ago, the U.S. Treasury Department authorized qualified longevity annuity contracts (QLACs) for the 401(k) and the individual retirement account (IRA) markets to help workers save for retirement. And according to a recent article from InsuranceNewsNet, an uptick of interest, especially among high net worth clients, has been observed since. Robert Klein, founder and president of Retirement Income Center in Newport Beach, confirmed this trend in a recent interview. “The... Read More

New Tax Credit Proposal to Encourage Retirement Saving

Many financial experts agree that Americans aren’t doing enough to prepare for retirement, and more should be done to encourage them. One such professional is Robert Klein, financial advisor and founder of Retirement Income Center in Newport Beach, California. According to a recent article in Financial Advisor magazine, Klein has proposed a new tax credit for individuals who purchase deferred income annuities. While it would be required that the deferred income annuity be purchased with... Read More

Retirement Strategies: I’ve Maxed Out My IRA Contributions

An IRA, or Individual Retirement Account, is a great option for saving for retirement, especially if you don’t have access to a 401(k) plan through your employer.  While these savings accounts offer big tax breaks, they have one major drawback: the annual contribution limit. In 2017 you are allowed to contribute up to $18,000 to a 401(k) account, plus a $6,000 catch-up contribution if you’re over the age of 49. But it’s a different story with IRAs. The contribution limit for 2017 is just... Read More

Create Your Own Pension with an Annuity

If you’re like many Americans, you do not have pension income to look forward to in retirement. The trend of self-sufficiency in our Golden Years is not likely going anywhere, making it imperative to take matters into our own hands and create our own retirement income. One income option source is a fixed annuity, which can provide reliable monthly cash for the rest of your life. Here are some smart annuity moves that can help you get on the right annuity track, from the experts at Motley... Read More

New Fixed Annuity Product from AIG

After a stellar 2016, American International Group (AIG) has just introduced a new seven-year fixed annuity with a lifetime income rider. According to a recent Retirement Income Journal article, Assured Edge Income Builder is issued by American General Life Insurance Company and is currently available in over 20 banks and broker-dealers, with more distribution coming in the near future. This new product, as with other fixed-rate annuities, does not require sellers to satisfy the Best... 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

Fixed Annuity With Income Stream Makes for Happy Retirees

Perhaps the biggest financial challenge facing us today is how to turn our retirement savings into income. In "Advisors Challenged To Convert Savings To Retirement Income," Financial Advisor's Juliette Fairley discussed some of the findings from a recent IRI survey. The Insured Retirement Institute found that 80% of retirees who have at least $50,000 saved get income from an annuity or pension. But pensions will be few and far between in the future, so the focus on annuity products for... Read More

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