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How an Annuity Audit Unlocks Hidden Potential

Jim Dobler   |   April 2024   |   1-minute read

The Story

When Todd, a financial advisor, discovered his client, Stan, and Stan’s spouse needed additional income, he reached out to his Ash Brokerage Retirement Income Consultant (RIC) for assistance. Stan held a deferred variable annuity (VA), generating approximately $9,230 annually. Recognizing the need for increased income, Todd viewed the VA as a possible under-utilized asset, prompting him to explore alternatives.

The Challenge

Stan and his spouse purchased the VA in 2006 with a focus on accumulation, but now sought to maximize spousal income. Todd perceived the VA's income rider as limiting and sought avenues to enhance income without depleting investments.

Client Profile

  • Ages 73 and 77
  • They previously purchased VA in 2006 with accumulation objectives
  • Their objective has shifted to maximizing spousal income

How It Works

Recognizing the urgent need to boost spousal income, Todd turned to strategic financial planning. Understanding the limitations of the VA's income rider, he sought solutions to enhance income streams while protecting capital. Collaborating with his Ash RIC, they meticulously evaluated alternative annuity options, considering risk tolerance and income objectives. Through innovative thinking and proactive planning, Todd demonstrated a steadfast commitment to achieving optimal client outcomes.

The Result

Upon receiving the Ash Annuity Audit results, Todd was astonished. The proposed fixed indexed annuity (FIA) offered an income boost of nearly 40%, projecting an annual guaranteed income between $12,600 to $13,450, compared to the current $9,230.06. Encouraged by the audit's findings, Stan and his spouse promptly initiated the transition process, demonstrating a remarkable improvement in financial safety and income potential.

This case study underscores the transformative impact of proactive financial planning. By leveraging an Ash Annuity Audit, Todd not only unlocked hidden income potential but also fortified his client's financial security, reinforcing the commitment to achieving optimal client outcomes.

As you navigate the complexities of retirement planning, consider the power of an Ash Annuity Audit to uncover opportunities and secure your clients' financial futures. Discover how Ash Brokerage can assist you in optimizing client outcomes through strategic financial planning and comprehensive solutions.

About the Author

Jim Dobler joined Ash in Jan. 2022 to develop our new Retirement Advanced Planning department. As a self-proclaimed data nerd with over 20 years in the industry, he loves looking at existing policies and comparing the solutions available on the market. In previous roles, Jim has been a financial advisor, a wholesaler, the head of sales for CANNEX and the president of an insurance agency.