Decoding True Income Rider Payouts: A Christmas Story

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Decoding True Income Rider Payouts: A Christmas Story

In the spirit of the holidays, we’d like to share a different spin of a familiar Christmas Story.  Hopefully you recognize it.  Click the picture if you’d like to watch this funny scene either way.

A competing carrier wholesaler, who we’ll call “Little Orphan Annie”, tells you that their product is paying 5.10% at age 65.  One of her strongest competitors is only paying 4.30% for a 65-year-old.  With $100,000 of premium, her product’s income is $5,100/yr.

Your first thought may be to go with a payout rate of 5.10% if you trust Little Orphan Annie.  However, when you pull out the decoder in the bathroom, the competitor she is referring to has an income rider base bonus of 20% so the income is actually $5,160 or 5.16%, not the $4,300 you would think listening to Little Orphan Annie.

You don’t have to do your own “decoding in the bathroom”.  Don’t be like the boy from the story, wasting time, excitement, and energy only to realize it was just “a crummy commercial”!  Give us a call today to see how you can help stretch your client’s assets into better guaranteed income.

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What you won’t hear or see though unless you call NFG Brokerage, is that if you need to really stretch your client’s assets to get the income they need, this same contract can also guarantee $5,794 for life instead, if you structure the use differently.  That’s a 5.794% payout compared to Little Orphan Annie’s 5.10%.  Go out to face the world again, wiser.

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