Guaranteed Annuities and CD replacement is a pertinent topic that is particularly timely at this moment. Actually, this topic of Guaranteed annuities and CDs is of the utmost importance right now as many individuals currently have their money in CDs, Money Market accounts, and Savings. These accounts on a national average are yielding well below 1% for a 60-month CD, and well below .10% in savings.
It is the age-old idea that once a banker has opened two accounts for a client it will naturally lead to a third account opening which is normally a CD. The banker contacts their client every April and October and asks them if they would like to renew their CD and the client does not think twice about it as the money is allocated there because the client does not want to lose their principal.
Maybe it is a lack of information, or negative information about guaranteed annuities in the general advertising world, that causes individuals to never consider the use of an annuity because of this negative press.
By taking into consideration that guaranteed annuities provide a guaranteed interest rate for a period of time ranging from 1 to 10 years, the opportunity to cater a safety of principal option that fits your needs is quite easy.
There are also additional benefits that outweigh the safety of keeping your money in the bank. You will have access to free withdrawals in case of an emergency, potential nursing home waivers, guaranteed lifetime income, and even potentially Lon-Term Care benefits.
If you are wondering if you need to start offering Guaranteed annuities and solutions to your overall proactive then I would say yes! If you need support in getting started please contact a representative today.
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