My family is from the heartland of America. Dad’s from a farm in Nebraska and Mom’s from a farm in Kansas. Solid people and I was even able to meet my Great Grandfather still on the farm over 51 years ago. My Great Grandmother is still living today. Unbelievable.
My family has a saying, a little dark humor, that our relatives live so long “we had to kill them to bury them”.
Today the American citizen now has great opportunities to outlive his savings during retirement. With advances of medicine and healthier lifestyles, a man reaching 65 today can expect to live on the average almost 85 and women up to 86!
“Longevity Risk” is outliving your assets, resulting possibly in going back to work, reduced care and unfortunately either lowering your standard of living or moving in with your kids. Which could be lowering your standard of living. My Mother in law thankfully lives with my wife and me and will be turning 93 this October. Thankfully she’s doing great and my wife is naturally her full time caregiver. Paying it forward as they say.
“Longevity Risk” is also about not enjoying retirement due to the worry of someday outliving your assets. Wouldn’t it be great to help put those worries to rest? 1 out of 4 65 years old today will live past age 90 and 1 out of 10 will live past 95. 100 year old folks are the new 70! Introduce to your clients and prospects to the idea of a fixed annuity with a lifetime income rider. With such an annuity in place your clients could receiving income just when they need it. Knowing that they will receive a “retirement paycheck” each and every month or year can give your clients the confidence that they will never run out of money even if some live to be 122! Remember, without some or most of their assets in this annuity design, your clients assets could be impacted by a number of factors including:
- How much money they have saved for retirement
- How long will they live in retirement
- Market conditions
- The rate of inflation
- Unexpected expenses in retirement
TWH Agency has decades of experience of designing products for our brokers to assist your clients in protecting their retirement funding. Guaranteed income when they are ready to take it, protecting their money from market declines and achieving conservative growth potential for their contracts.
With a combined experience of over a 100 years in Annuity case design, you should consider having the TWH Agency work with you in helping your clients. Please fill out the form or call John, Greg or Tip for your success in Annuities, Life and LTC.