06 Aug
Posted by Lucas Falkiner as Insurance Tips
Tell affluent client prospects about why an annuity is critical to a balanced portfolio for achieving financial planning objectives and their eyes are likely to roll. How, they might ask, can an annuity—a product commonly used by mid-income households to cover basic expenses in retirement—compare with the many alternative investments available to the wealthy?
The better educated among the affluent already know the answer. Increasingly, sources tell National Underwriter, high net worth clients are turning to variable, fixed and fixed indexed annuities because of their unique ability to provide a guaranteed income stream, as well as tax efficiency during both the accumulation and income distribution planning phases.
The spread of this enlightened, well-heeled population is evident in the numbers. Acc