What it may cover
- Guaranteed income strategies through annuities
- Tax-advantaged growth through permanent life insurance cash value
- Strategies to help supplement Social Security and pension income
- Legacy planning components for passing on wealth
- Options to convert a portion of savings into a lifetime income stream
- Living benefits or long-term care riders layered onto certain products
Who it's for
- Those within 5-15 years of retirement reassessing their income plan
- Retirees wanting a guaranteed income stream
- Anyone who has maxed out traditional retirement accounts
- Retirees relocating to Florida who are restructuring their income plan
- Business owners without access to an employer-sponsored retirement plan
Why it matters
Outliving your savings is one of the most common retirement fears. The right strategy can provide income guarantees that traditional investment accounts alone don't offer. Longer life expectancies mean a retirement plan may need to generate income for two, three, or more decades, and market downturns early in retirement can do outsized damage to a portfolio that relies solely on investment withdrawals.
Common coverage options
Fixed annuity
Provides a guaranteed interest rate and predictable income stream.
Indexed annuity
Growth tied to a market index with downside protection.
Permanent life cash value
Builds tax-advantaged cash value that can supplement retirement income.
Guaranteed lifetime withdrawal benefit rider
Can be added to some annuities to guarantee income for life, even if the underlying account value is drawn down to zero.
What affects the price
- 01Age and time horizon to retirement
- 02Amount allocated to the strategy
- 03Desired income guarantees versus growth potential
- 04Health and underwriting requirements for certain products
Questions to ask before buying
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Frequently asked questions
Coverage details depend on the carrier, selected policy, applicable state laws, underwriting criteria, and specific exclusions. This content is for informational purposes only and does not constitute legal or financial advice.
