Simplified Annuities? Don’t Hold Your Breath

Advisors should quit waiting for simplified annuities.

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Comments (1)
In terms of innovation, why have not any carriers experimented with combining the features of a disability income policy and an annuity? Think about the two pressing needs such a contract would offer - income in the event of a disabling injury, and income for life once retired (assuming no disabling injuries occur).

Whether fixed or variable, the policy can replace lost income when a defined benefit plan is terminated.

In addition, roughly half of all foreclosures occur due to the disability of the primary bread winner; a policy of this nature can reduce that risk while also providing a long-term savings vehicle.
Posted by Peter K | Tuesday, October 22 2013 at 2:20PM ET
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