|By: Jeff Affronti
Immediate & Guaranteed Lifetime Income Insurance
Guaranteed Immediate Annuities
The Single Premium Immediate Annuity is
still not being presented as much as it should be by agents and
advisors. Clients making decisions on Lifetime Income likely do not
know they have another guaranteed insurance option. Outside of a few
exceptions, most of the major marketing by insurance carriers and
brokerage firms do not include SPIA's. They all seem to talk
lifetime income, however, they push the higher commission, higher
profit and fee based products. This is a major swing from the
marketing of the past. A fee in a fixed annuity is anti-everything
that us long time fixed annuity guys believe in. The fact that the
SPIA has a lower commission should not be a concern or a thought
when the product can offer some really outstanding guarantees.
A 62 year old male with $1,000,000 and
wants to produce income NOW!
5.64% Annually with
minimum guaranteed return!
Buy purchasing an immediate lifetime annuity with a 25 year minimum
income guarantee this male can get a $56,469 (5.64%) annually. That
is a guaranteed minimum premium return of $1,411,725 guaranteed DAY
1 and income starts 1 MONTH after premium received.
The immediate annuity made the client no less than 41% while
providing peace of mind. Where else can this type of risk averse
client take 5.64% of his nest egg annually and never run out! Not to
mention the ultimate guarantee of getting a 41% gain no matter what!
This combination of higher income and premium growth guarantee is
why the SPIA should be the go to product for guaranteed income.
Yes, the commission is lower on an immediate annuity than a fee
based FIA Rider which allows income to be taken immediately. This
fact should not prevent the SPIA from being shown to the client.
Present both fairly with the real income numbers and let the client
decide, it is their retirement income after all!
The idea is to not outlive your money.
Maximizing it at the same time does not hurt.
Marketing, illustrating and building fixed annuities since 1995.
Thinking about using a SPIA's?
Get immediate annuity illustration, support and contracting.
Call 800-373-9697 | www.spiaquote.com |
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California Insurance License #0B91910 | twitter @MrFixedAnnuity
California Insurance License #0B91910