BUA Retirement Income Case Study: Maximum Income Now

News Image 03-28-2014

Advisors are increasingly called upon for ideas on retirement fixed income solutions. At times, it can be hard to know who to turn to. BUA specializes in client centered solutions. For example, take a look at a case an advisor recently brought to BUA:

The clients:
A couple, both 76 years old, with $120,000 in non-qualified money

The Objective:
Maximum income right away without giving up access to their principal

The Solution:
The solutions we considered included immediate annuities and guaranteed withdrawal benefit plans from American General and ING. The clients were not comfortable with annuitizing due to the lack of flexibility. Both AG and ING offer income immediately with their lifetime income riders.

ING was the recommendation here due to their 5% premium bonus and a higher withdrawal factor providing the highest guaranteed lifetime income.

Summary:
The ING rider offered a great solution here, but for different clients with different needs, we’ll have different recommendations. Contact the BUA Annuity team for more information on this case study, product information and fixed retirement income solutions at 1-800-792-6795.