As your clients plan for retirement, they may be curious about how to secure a predictable income stream. At that point, annuities can become a hot topic for them, and you can help guide the analysis to support solid decision-making.
A New Checklist
When the annuity question comes into focus for clients, the answer is often more complicated than a simple “yes” or “no.” That’s why we’ve developed a new checklist, “Does An Annuity Fit Within My Financial Plan?” for fpPathfinder members. Members can use the checklist to navigate an annuity analysis with clients. It covers important concepts, including:
- Variable, fixed, and indexed annuities.
- Immediate and deferred income annuities.
- Purchasing and funding methods.
- Riders and other features.
- Tax considerations.
Annuities Have Many Applications
The new checklist can help identify if and how an annuity can figure into a holistic financial plan. Depending on the client’s individual needs and circumstances, fpPathfinder members can highlight annuity strategies beyond income protection. For example, the advisor and client can explore how the appropriate annuity can:
- Protect the client’s initial investments (premiums).
- Supplement recurring income streams.
- Allow tax-deferred growth.
- Fund long-term care.
- Achieve wealth-transfer goals.
- And much more.
When the time is right, advisors and clients should have this important conversation before either dismissing or implementing an annuity strategy. The new checklist will help fpPathfinder members confidently lead their clients to the answer that is appropriate to their individual circumstances.
If you’d like to integrate this checklist (and others like it), become a member today! You can choose among three membership levels — Essentials, Deluxe, and Premier — depending on which will move you toward your goals most efficiently.