According to Jeffrey Singer, a National Annuity Wholesaler at First American Insurance Underwriters, Inc., advisors shouldn't limit themselves when advising clients on annuity products. Singer sees the product, along with life insurance, as one of the most flexible products available for helping clients successfully meet their financial objectives. Flexibility is the key word here and with that in mind, Singer has provided five unique strategies for advising clients and prospects on annuity products.
1. Avoid the mutual fund tax trap.
According to Jeffrey Singer, don't let taxes ruin investment plans. While taxes definitely cast a long shadow over nesteggs, they don't have to blot them out altogether.
2. Receive a guaranteed lifetime income.
Guaranteed income is the buzz of the retirement industry these days and by listening to everyone from carriers to marketing organizations to advisors, guaranteed income is the present and the future. In other words, guaranteed income is here to stay.
3. Upfront bonus.
4. SPIA bridge Idea.
5. SPIA as irrevocable.