Issue link: https://resources.envestnet.com/i/1532497
Indicator Where to Uncover 1 Concern of Not Having a Paycheck Anymore Expectations / Concerns 2 Concern of Running Out of Money Expectations / Concerns 3 Concern of Suffering Investment Losses Expectations / Concerns 4 Concern of Living Too Long Expectations / Concerns 5 Expectation of Less Stress - Peace of Mind Expectations / Concerns 6 Long Life Expectancy Life Expectancy Calculator 7 Overspending Budget / Goals 8 Lack of Bequest Goals Goals / Children & Others 9 Lack of Retirement Income Retirement Income 10 Need for Tax Deferral Investment Assets 11 Low Risk Tolerance Risk Score 12 Gap Between Income and Needs Secure Income Analysis 13 Need for Equity Exposure Risk / Reward Building Your Case for Annuities There are several indicators inside of a financial plan that can act to alert the advisor to evaluate if the client could benefit from an annuity. Consulted with John Salter, Ph.d., CFP®, AFIA® of Texas Tech to help develop these indicators. The conversation that develops from these indicators can support the annuity recommendation even if the probability of success in the plan does not improve with an annuity recommendation. Annuity Strategies Model many different types of generic annuity products in MoneyGuide. These products range from Single Premium Immediate Annuities (SPIA) to Deferred Income Annuities. It will be important to evaluate what the client's needs are before deciding on a specific strategy. In addition, the modeling of annuity within a financial planning software will not replace the need for a product illustration. Within a financial planning software, you will be able to demonstrate most of the main features of the annuity. Some examples include payout rates, investment options, accumulation period, and deferral bonus. Indicator Where to Uncover 1 Future Annuitization S.P.I.A. Purchased in the Future 2 Immediate Annuity S.P.I.A. Purchased Today 3 Lifetime Income Annuity Purchased in the Future with an Income Rider 4 Annuity with Lifetime Income Fixed or Fixed Indexed Annuity Purchased Today with Deferred Income 5 Variable Annuity with Lifetime Income Variable Annuity Purchased Today with Deferred Income 10