GUARANTEED LIFETIME INCOME
Now that you have a clear understanding of the general types of annuities available, we can look at employing different kinds of Annuity Strategies to help you achieve your specific financial goals.
When your goal is to set a lifetime income stream for you and/or your spouse, Stan the Annuity Man uses the following strategies:
Income Annuity (Single Premium Immediate Annuity)
We quote only from the top Income Annuity issuers to find the top rate for you. Here are features we like about this annuity as part of your Guaranteed Lifetime Income strategy:
- Income starts 31 days from contract issue, and pays for your life or joint lives;
- This annuity can be set up jointly with spouse to cover both lives;
- A cost of living adjustment (COLA) can be added to the contract with you choosing the amount of the annual percentage increase;
- You choose when you would like payments – monthly, quarterly, semi-annually, annually;
- Payments can be wired directly into your bank account.
Fixed Rate Annuity (CD Type)
I like this as an alternative to CDs because taxes are deferred on interest earned if left in the contract. Here are some other features:
- Terms available are as short as two years up to 10+ years;
- Fixed Annuity rates are usually a little higher than CD’s with the same term;
- Interest can be paid as income stream like CD’s;
- The principal is protected and safe;
- A Fixed Rate Annuity contract can be converted to an Income Annuity when a lifetime income stream is desired;
- Upfront bonuses are available on some products;
- You can choose to have the interest grow tax deferred or you can have it wired directly into your bank account.
Income Riders
Income Riders can be attached as an added benefit to all types of annuity contracts. At Stan the Annuity Man we have access to all of the best income riders and can match you with the one that specifically meets your needs. As part of a Guaranteed Lifetime Income strategy here are some considerations to know about Income Riders:
- They can be used to plan for income to start at a future date;
- Some of the benefits/riders offered are:
- Annual cost of living increases (COLAs);
- Contractually guaranteed growth amount during deferral years that can be used for income at any time;
- Confinement or Long Term Care riders with the benefit of the income stream doubling for life for facility OR in home care;
- “Spousal continuation” of benefits/income if the primary owner passes away.
- Upfront bonuses are available on some products.
Split Annuity Strategy
Every Split Annuity Strategy is unique and will be customized just for you. This is one of the many reasons I will fly to your home, wherever you live, to sit down with you face-to-face as we plan out the Stan the Annuity Man strategy that will give you the peace of mind you’ve been looking for. Here are some basics about Split Annuity Strategies:
- Using two, three or four specific/separate annuities from different carriers at the same time we’ll maximize your income needs, while maintaining control of your principal.
- Using combinations of income annuities, fixed annuities, equity indexed annuities, variable annuities, and income riders that compliment each other and work together, we can achieve your specific goal.
- Each annuity represents a specific “bucket” of guaranteed income – you will be “pouring out the buckets” of guaranteed income for the rest of your life.
Leveraged Income Doubler (L.I.D.)™ Strategy
- Created and trademarked by Stan The Annuity Man.
- Details only discussed in private client meetings.
This is a two annuity strategy in which both annuities provide a guaranteed lifetime income stream for you or you and your spouse. After researching over 1,000 annuities, I only found two that worked perfectly for this proprietary private label Stan the Annuity Man strategy. The Leveraged Income Doubler L.I.D. Strategy works like this:
- The best equity indexed annuity for guaranteed lifetime income (annuity #1) fully funds the best flexible premium equity indexed annuity that also provides a guaranteed lifetime income (annuity #2).
- Guaranteed lifetime income annuity #1 fully funds guaranteed lifetime income annuity #2 to create the highest return on your money and the highest payout on a contractual basis.
Leveraged Legacy Doubler (L.L.D.)™ Strategy
- Created and trademarked by Stan The Annuity Man.
- Details only discussed in private client meetings.
The Leveraged Legacy Doubler strategy is similar to the L.I.D. strategy above. In the L.L.D. strategy guaranteed lifetime income annuity #1 fully funds a life insurance policy. This strategy provides a guaranteed lifetime income stream and a TAX FREE lump sum distribution to your beneficiaries upon your passing.
Here’s an example: If a husband and wife utilized the L.L.D. strategy, there would be a lifetime income stream provided for both lives AND a tax free lump some benefit from the life insurance policy as well.
Longevity Insurance
This is a form of a deferred fixed annuity that is typically purchased close to retirement age for a guaranteed income later in life. Most Longevity Insurance products start paying out between the ages of 80 to 85. This is a solution for people who worry that their current savings/retirement might run out as they get older.
“Target Date” Annuities
If you have a specific date or year that you would like to plan on taking income, at Stan the Annuity Man we can provide the right annuity strategy to help you achieve the specific income dollar amount you have in mind – contractually guaranteed regardless of the stock market.
With my customized strategies you can start your guaranteed income stream in as short as one year or up to as long as 20 years from now. Regardless of when you want to start taking income, my proprietary strategies can show you to the penny, the exact dollar amount that you will receive for every year of your life – contractually guaranteed. Of course, cost of living/inflation increases can be added to this strategy as well.
