by John Darer CLU ChFC MSSC CeFT RSP CLTC
TV ads at virtually anytime of the day and a plethora of Internet ads tell you about why you need money now. But what happens if you need money then?
Some people just want to secure their futures. Some want to avoid the volatility of the stock market, mutual funds, pyramid marketing and other schemes and would like to know what they are going to receive and to have the comfort of knowing exactly when they are going to receive it.
The annuity solutions offered by most life insurance companies fail to adequately bridge the gap between deferral and income needs when there is a need for "money then" and there is a need to know how much. You can buy a fixed or variable annuity for deferral purposes, but you never know exactly what you are going to accumulate. Furthermore you never know exactly how much income you will get until you "annuitize" the annuity. You can buy an immediate income annuity or SPIA, but you can't have a start date later than 13 months (as provided by IRC Section 72(u). Fortunately today there is a solution.
A customizable deferred income annuity is now being offered permitting an individual to, if you will, buy income, or better said to buy deferred income.
Very simply you can:
- figure out now, today, the amount of money you need then. Then we can help you calculate how much money now you need to put away to have that exact amount of income coming to you beginning on the very day then in the future that you want it.
- decide how much money now that you can or want to put away and know now exactly how much you will get on the very day you set to start taking the the money out as income then.
For details and quotes please contact us
