One of the biggest fears of people in retirement today is the fear of running out of money. Most people today will be relying on a retirement account such as an IRA in order to replace wage earnings with income in retirement. These clients who need a known income stream can be great candidates for an annuity. Many fixed indexed annuities today offer guaranteed lifetime income features – these give clients the ability to receive guaranteed income and preserve remaining principal account balance along the way.

Most Americans are also concerned about market volatility in retirement. Now more than ever with the market crash in February and recent volatility. Many are worried about the economic outlook and the upcoming presidential election with respect to how it will affect their retirement accounts. Fixed annuities will provide clients with guaranteed rates of return regardless of market volatility. People are looking for guarantees, and these people may benefit from a fixed annuity.

Fixed and fixed indexed annuities can also provide clients better rates of return than other fixed instruments today. Interest rates, coupled with the tax-deferred nature of annuities, make them great options for clients/prospects looking for better rates of return. Clients needing Long Term Care protection or guaranteed payments in the event of death may also be good candidates for annuities. Many annuity products have enhanced payouts for LTC and/or death.

At Pinnacle Financial Services we can help determine if your client qualifies for an annuity. Just like picking the right tool for the job, we must know what job we are doing before we pick the tool! With the wide variety of annuity products today, picking the right option for your client is important. Give us a call today to discuss the annuity solutions we provide here at PFS.