{"id":21719,"date":"2024-04-18T19:51:07","date_gmt":"2024-04-18T19:51:07","guid":{"rendered":"https:\/\/www.thinkadvisor.com\/2024\/04\/18\/annuity-marketer-charts-path-through-social-security-choke-point\/"},"modified":"2024-04-18T19:51:07","modified_gmt":"2024-04-18T19:51:07","slug":"can-this-annuity-ease-social-security-claiming-pressure","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2024\/04\/18\/can-this-annuity-ease-social-security-claiming-pressure\/","title":{"rendered":"Can This Annuity Ease Social Security Claiming Pressure?"},"content":{"rendered":"
<\/a><\/div>\n
<\/div>\n

The thinking: <\/strong>Tyler said the two-income-level annuity strategy has been a great niche product and works well for many middle-income clients as well as more affluent clients.<\/p>\n

\u201cWe found a lot of adoption of the Personal Income Annuity in the federal worker space,\u201d he said.<\/p>\n

At the U.S. Postal Service, for example, many workers can retire at 58, and, especially on the East Coast, they might be in couples with a total household income of about $200,000, he noted.<\/p>\n

For many of those workers, he said, the dominant view of income and investment risk is, \u201cI need income now; I\u2019d like to give the risk to somebody else.\u201d<\/p>\n

The median premium paid is about $100,000, and the average is about $155,000.<\/p>\n

The amount of premium paid tends to correlate with what a worker has saved in a 401(k) plan account, Tyler said.<\/p>\n

The advice: <\/strong>Tyler said one challenge for Nassau has been persuading financial professionals to consider offering a new type of annuity.<\/p>\n

When confronted with change, \u201cagents pause, even when it\u2019s something good,\u201d Tyler said. \u201cAgents are used to the concept of selecting one check forever. Now they have to explain two checks.\u201d<\/p>\n

He said the major challenge for financial professionals is explaining Social Security realities to the clients.<\/p>\n

\u201cPeople are sometimes surprised by how small the check is,\u201d Tyler said.<\/p>\n

He said clients are also shocked by how much of their Social Security checks they have to use to pay for Medicare and supplemental insurance products.<\/p>\n

But \u201cthe longer you wait, the larger the check is,\u201d and that helps sales of products designed to push the Social Security claiming date back, Tyler said.<\/p>\n","protected":false},"excerpt":{"rendered":"

The thinking: Tyler said the two-income-level annuity strategy has been a great niche product and works well for many middle-income clients as well as more affluent clients. \u201cWe found a lot of adoption of...<\/p>\n","protected":false},"author":1,"featured_media":21720,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2024\/04\/can-this-annuity-ease-social-security-claiming-pressure.jpg","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/21719"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=21719"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/21719\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/21720"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=21719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=21719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=21719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}