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A Case to Share April 29, 2019

April 29, 2019 By itops

During the last few weeks we have worked on dozens of life, long term care, disability and annuity cases working alongside our Advisers.
If you are not discussing these issues with your clients then who will? 
 
Case 1 – Rising Income Options: If you have clients that need or will need supplemental income from their portfolio and not looking at an annuity with a rising income option, then you may be doing your clients a big disservice. 
 
Please allow Westland to assist with designing and incorporating a rising income option to achieve significant improvements with generating much higher accumulated incomes during retirement.  Our analysis routinely shows potentially 25% – 100% more income over a 20-30 year retirement.  
 
Case in point:  Client was age 70 and had a John Hancock (JH) Variable Annuity with an income rider.  The account value was about $153,000 and income from JH was guaranteed at $9,375 annual.  At age 90 her accumulated income distributions would be $196,875.
 
The rising income option showed a starting income of $8,577 annually. At a conservative 3.5% growth estimate, that income would be $16,489 by age 90 and accumulated income of $242,555.  This is a 29% increase in income.  Granted this is hypothetical vs. guaranteed, but most clients will jump at the opportunity for the increased option.  It could be much higher or a little lower, but in almost all planning simulations, it is better.
 
At age 95, the difference is 43% better.  
 
Her E-Money simulation showed a tight plan with a net worth at age 100 of only $22,000 with JH and an improved hypothetical net worth of over $286,000 with the 1035 change.  Compliance approved the transaction.
 
Call or E-mail Sean Sahin to discuss a case today.
 
E-Mail: Sean Sahin
(800)238-8144 x120

Filed Under: Westland Word

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