Tuesday Tips – May 31st, 2016
Athene Lowering Rates
Athene has announced that it is lowering rates on its Ascent Pro, Performance Elite, and TargetHorizon product lines. The rate drop takes effect June 4th and applications must be in house by 4 cst on Friday June 3rd to receive current rates. Call today for additional details.
F&G MYGA Special
F&G will begin running a MYGA special June 6th. For a limited time the Guarantee-Platinum 5 will offer a 3.15% rate. Applications must be an E application. Call today for more information.
Tax Mitigation Utilizing Life Insurance
Often times cash value life insurance is used to generate a tax free income stream in retirement for supplemental income. Typically a static income stream is illustrated during retirement. An alternative strategy can be to position life insurance as a tax advantaged safe money bucket instead of an income stream. This bucket is designed to mitigate risks in retirement such as increased taxes, chronic health issues, and death. In retirement by drawing on the bucket strategically the client can influence what tax bracket they’re in as well as shelter their social security income from taxation.
Boomers and Retirement
According to an Insured Retirement Institute study only 43% of boomers say they’re happy with their financial situation. This is down from 65% in 2014 and 77% in 2013.
North American Rapid Builder IUL
North American’s Rapid Builder IUL can be a great tool to house cash for a client that wants liquidity and the potential for higher yields compared to other safe money alternatives. The product can be funded by either a single premium or flexible premium, offers a free chronic illness rider, and has annual point to point caps as high as 12%. Call today for additional details.