Retirement Planning

Retirement planning, in a financial context, refers to the allocation of finances for retirement. This normally means the setting aside of or other to obtain a steady at retirement. The goal of retirement planning is to achieve financial independence, so that the need to be gainfully employed is optional rather than a necessity.

The process of retirement planning aims to:

■ Assess readiness-to-retire given a desired retirement age and lifestyle

■ Identify actions to improve readiness-to-retire.

■ Acquire financial planning knowledge.

■ Encourage saving practices.

Freedom during retirement means something a little bit different to everyone: like being able to do what you decide with your time and money. After all, isn’t that what you always heard retirement should be? But how much money and how much time will you have?

Even if you have been preparing financially and have amassed what you think is an adequate retirement income, you may want to reassess. Often, people will base their retirement estimates on several mistaken, but commonly held assumptions regarding retirement and what various resources will provide. In many cases, the reality of retirement turns out to be quite different. Given the impact of taxes, inflation and longer life expectancies, today’s decisions could dictate tomorrow’s retirement lifestyles.


Universal Life in Retirement

Cash value accumulation life insurance products serve two main purposes for individuals: a death benefit and a cash value. Not only can this cash value grow over time (as with products like fixed index universal life) it can be accessed through withdrawals and policy loans. Your clients can use this resource as a way to supplement their retirement income, to cover expenses in emergency situations, and to fund things a college education or vacation.

Click here to access a free guide that can show you how to market universal life into your client’s retirement plan.


Pension Income Maximization

Pension Income Maximization involves portioning a part of a defined benefit pension plan into paying for life insurance premiums. Although many employers have now shifted to new defined contribution plans like 401 (k)s there is still a large market of individuals with pensions that can take advantage of a pension maximization strategy.

Click here to access a free guide that gives you specifics on this still relevant strategy and how you can use pension income maximization to capture new clients.


Power of Permanent Insurance

Permanent Insurance, which includes whole life and universal life, carries both a death benefit and a cash accumulation value. In contrast to term life insurance, there is no acceleration of a death benefit during lifetime to cover long-term care expenses. Permanent Life Insurance also has the potential to grant death benefit guarantees to age 100.

Click here for a free guide that gives you specifics on how you can use the value proposition of permanent life to access a wide-ranging consumer base.


Annuity Maximization Strategy

Many consumers may recognize the value of an annuity in their retirement plan. They may not, however realize the impact that taxes will have on the overall value of their contract, especially at the death of the annuitant. These considerations are subject to the tax brackets of the annuity owner and beneficiary, what bracket these parties fall in to, can significantly reduce the value for the beneficiary—in some cases more than half of the overall contract value. Annuity Maximization involves actions like strategic distributions or withdrawals to minimize the death benefit tax burden and retain as much of the assets as possible.

Click here to access a free guide that gives specifics on Annuity Maximization Strategies and on how you can use this as a selling point in your prospecting.


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