Your client, Rita, is 58 years old and plans to retire in five years. Working together, you have identified a $1,000/month income gap in her retirement plan. What are Rita’s options to close THE gap?
OPTION 1: Rita could do it herself.
To increase her income at retirement, Rita would have to deposit $258,782 in a savings account with a guaranteed 3% growth rate. Over five years Rita’s savings will have grown to $300,000. With $300,000 Rita will be able to take a $1,000 distribution each month until age 88.
There is a better solution!
OPTION 2: Rita could use FIT Guaranteed Income Single Premium Deferred Annuity (SPDA) with the Guaranteed Lifetime Income Rider (GLIR).
Rita would only need to deposit $181,332 ($77,450 less than before), to get the same $1,000 a month, and it is guaranteed for life!
Best of all, it’s GUARANTEED!
IT SPDAs are not available in NY
Call the National Life Group Sales desk at 800-906-3310 Option 1.