Annuities: Insured Income


Annuities: Insured Income

In their lifetimes, your clients will own several kinds of insurance. For example, let’s look at Jim – a 45-year-old man who’s got a house, wife, two kids, a truck and a great job as an electrical engineer. 

Like most people, Jim has health insurance through his employer – to help cover his family’s medical bills should they get sick or injured. He buys his home and auto insurance through his buddy Pete, a property a casualty agent in town. Pete also told Jim he should have life insurance – to replace his income for his family should he pass away prematurely – so he added that as well. 

Jim’s feeling pretty covered at this point. But he worries about the future. He hopes to retire in about 20 years, but he wants to make sure he’ll have enough money to last – he doesn’t want to run out of income later in life.  

Well, in a few years, Jim could consider another type of insurance: an annuity. Just as life insurance offers a benefit for a shorter-than-expected life, an annuity can offer income for a longer-than-expected life. 

An annuity is a long-term product designed for retirement income – it’s a contract between a client and an insurance company. Jim, or other clients like him, can use a portion of their retirement fund to purchase a guaranteed stream of income – potentially for life. 

An annuity could create reliable income for Jim, helping to fill the gap in his retirement income plan no matter how long he lives. Additionally, depending on the type of annuity he chooses, he may be able to access his contract value for long-term care needs should he need to, and/or a death benefit for his beneficiaries. 

Bottom Line: Annuities are an insurance product – they’re insurance for your clients’ retirement income. Talk to Ash Brokerage about options to help them through this significant stage of life.  

*Guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company

For financial professional use only; not for use with the general public

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