A fixed annuity is a convenient, predictable option for seniors who want a guaranteed income stream to supplement their other retirement income. In exchange for a lump sum payment up front, clients can remove market risk from their return — because both the principal investment and fixed interest rate are guaranteed.
This kind of annuity can be deferred or immediate. While the deferred option accumulates regular rates of interest, the immediate option has fixed payments determined by your age and size of your annuity. The insurance company guarantees the client’s fixed payout every month; some fixed annuities have terms as long as 15 years.
Why Agents Offer Fixed Annuities
Just as Fixed Annuities aren’t the best fit for every client, they aren’t always the best fit for Agents. Consider these questions:
- Are these plans beneficial for the people in your community and the areas you serve
- Do you offer similar/competitive products?
There are many compelling reasons to offer Fixed Annuities, such as:
- You can help families with some of the most difficult decisions of their life
- You can provide your clients with peace of mind, as they will know they have a health plan behind them
- You’ll be serving the needs of your clients and community
- You can offer a profitable product that will help your bottom line
How to Get Started with Fixed Annuities
If you decide to offer Fixed Annuities, we recommend talking to someone from the Medicare Advisors team of experts. They’ll provide answers to your questions, and have tools available to support your new product offering.
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