Sponsored by New York Life
Variable Annuities with income riders (like Guaranteed Lifetime Withdrawal Benefit riders, or GLWBs) are popular solutions that advisors use to help clients plan for retirement income. The base product allows their money to keep working for them today (moving with the market), while the rider guarantees an income amount starting at retirement (securing the future). But why do so many people avoid “turning on” these income withdrawal riders? A 2015 study found that only 27% of all GLWB clients had done so that year (and less than half of folks age 85+ bothered to take income).
New York Life’s latest whitepaper—Are your clients getting the growth opportunity and protection they need?—delves into this phenomena and explores a new retirement solution that may better satisfy your clients’ desire for growth AND protection.
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