Description
Today's discussion is meant to be an overview of the white paper by doctor Wade Pfau professor of practice at The American College of Financial Services his paper is entitled Supporting retirement financial goals-Identifying when a variable annuity with lifetime income benefits can offer the greatest relative value. This course will identify how to help retirees build guardrails into their retirement income strategies using a variable annuity with a lifetime income benefit. It will identify more broadly when an integrated strategy that incorporates a variable annuity with a lifetime income benefit can be expected to add the most relative value to a retirement spending plan, as well as when it may be less helpful.
Learning Objectives
Financial professionals and their clients can benefit from a deeper understanding of the role
annuities can play within a comprehensive retirement income strategy. Today, the value provided by insurance risk pooling is becoming better understood by financial professionals as retirement income planning has emerged as a distinct field within financial services. This is happening as traditional sources of risk pooling, such as company pensions and Social Security, play a reduced role and as retirees look for ways to transform their 401(k)savings into sustainable lifetime spending. We find that a persuasive case can be made for partial annuity strategies to better meet the spending and legacy goals of retirees.