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Avoid these 7 mistakes when purchasing life insurance

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Bill Hoff

Author

Life insurance is an important purchase, and buyers don’t want to make mistakes that will jeopardize the financial security of their loved ones in the event of an untimely death. Unfortunately, many people make costly mistakes when obtaining life insurance. Knowing about some common mistakes can help you avoid them. Here are seven mistakes many people make that can be avoided with a little advanced knowledge.

1. Failure to fulfill your contractual obligations

One of the most common mistakes is failing to pay premiums until the end of the contract term. If you haven’t given it enough thought, discontinuing, surrendering, or lapsing your policy in the middle can be costly. Remember that if you purchased the plan after conducting a thorough needs assessment, you must return to it to validate the relevance of your goals. Your policy is relevant if the goals remain relevant. Some people terminate the contract to cover short-term liabilities. Check to see if the insurer offers a loan facility on the policy. If that works, take the loan and keep your policy. There may be additional factors, but before moving forward, you should be completely aware of the consequences and have an open conversation with your insurer. Please keep in mind that if your insurance needs to grow and change over time, rather than canceling your policy, you must constantly assess your financial goals and ensure that the job you want to be done is completed.

2. Putting off purchasing insurance for too long

Delaying the purchase of life insurance is a common mistake that can have serious consequences. Individuals who do not yet have dependents may believe they can postpone purchasing coverage until they marry or have children. However, purchasing a policy when young and healthy can be less expensive and more accessible.

It’s riskier to put off buying life insurance until later in life when the likelihood of developing a pre-existing condition that renders standard policies unaffordable rises. You can expect to pay higher premiums if you buy a policy later in life or after a pre-existing condition is discovered. As a result, those who anticipate having dependents in the future may want to purchase coverage. Get the most affordable policy as soon as possible to avoid leaving future dependents unprotected.

3. Purchasing the incorrect type of insurance

Another costly blunder is purchasing the incorrect type of insurance. For example, some customers may believe that whole life insurance is appropriate for them because they want to have protection in place indefinitely. In contrast, most people can save money by purchasing a term life insurance policy. Term life insurance policies are valid for a set period, such as 20 or 30 years, and the death benefit is paid only if the policyholder dies during the term. On the other hand, whole-life policies remain in force as long as premiums are paid, so a death benefit is always paid out.

However, most people do not require lifetime coverage from whole life insurance. This is because, in most cases, people only temporarily rely on the policyholder’s income or services.

4. Maintain communication with your family

Remember that the policy was purchased for the benefit of your family, so failing to discuss the policy’s details, claim process, and so on with your spouse or parents, particularly the nominee(s), can cause them great discomfort in times of need. Policy bonds should also be kept safe and accessible to your family. The good news is that electronic insurance account facilities allow policyholders to request digital versions of their policies (which works similarly to Dematerialized shares).

5. Know the specifics before you sign

The life insurance contract form is the most crucial document you will ever sign, but most people leave form-filling to the distributor or salesperson. The insurance company will take the information provided in the life insurance application as complete and accurate. Failure to provide accurate information about your health, occupation, family history, and lifestyle can result in a claim being denied by the insurance company. Consequently, it’s essential to take one’s time when drafting contracts.

6. Purchasing insufficient coverage

Customers purchasing life insurance may also end up with insufficient coverage. This could occur if a person purchases insufficient protection because they fail to consider issues such as debt or their child’s education. However, buying too much coverage may be a mistake because it makes insurance more expensive than necessary.

Life insurance aims not to make surviving family members wealthy but to ensure their basic needs are met. The DIME formula can help you figure out how much coverage you need. This is an abbreviation for debt, income, mortgage, and education. Consumers should purchase a policy with a significant death benefit to pay off outstanding debt, replace their income for years, pay off their mortgage, and cover their child(ren)’s education.

7. Making poor beneficiary selections

It is critical to select beneficiaries carefully because these are the people who will receive the death benefit. It’s common practice to name beneficiaries on a life insurance policy instead of letting the policy pass to the policyholder’s estate. Beneficiaries will receive the money tax-free and will not be included in the probate estate, avoiding the need to go through the probate court process and potentially being subject to estate taxes with larger estates.

A contingent beneficiary should also be named so they will receive the inheritance in the event the primary beneficiary passes away before the policyholder. If the primary beneficiary dies, the life insurance policy becomes part of the estate and must be probated. Failing to designate a contingent beneficiary could be a costly oversight.

These errors are best avoided, and the best way to avoid them is to be aware of and understand your rights!

Contact Information:
Email: [email protected]
Phone: 2178542386

Bio:
Bill and his associates of Faith Financial Advisors have over 30 years’ experience in the financial services industry.
He has been a Federal Employee (FERS) independent advocate and an affiliate of PSRE, Public Sector Retirement Educators, a Federal Contractor and Registered Vendor to the Federal Government, also an affiliate of TSP Withdrawal Consultants.
Bill will help you understand the FERS Benefits and TSP withdrawal options in detail while also helping to guide you in your Social Security choices.
Our primary goal is to guide you into your ment with no regrets; safe, predictable, stable and for life using forward thinking ideas and concepts.

Bullet points:
> Financial Services consultant since 1984
> FERS independent advocate and an affiliate of Public Sector Retirement Educators (PSRE), a Federal Contractor and Registered Vendors to the
Federal Government
> Affiliate of TSP Withdrawal Consultants
> His goal is to guide individuals into retirement with safe, and predictable choices for stability using forward thinking ideas and concepts.

You May Be Making These 4 Retirement Errors Without Even Realizing It

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Retirement planning should be rewarding. It’s bittersweet to leave your career and start a new chapter. There are things you can do to improve your retirement savings and investments, and other factors that might damage you. Here are four retirement mistakes you may not have noticed.

1. Inability to take advantage of the Roth IRA tax benefits while they are still available

Roth IRAs are a great method to save for retirement. Allowing your money to grow tax-free and withdrawing tax-free from retirement funds can help you retire wealthy. Six-figure Roth IRA withdrawals escape capital gains taxes, saving thousands over time.

Roth IRA contributions are not open to everyone because of the income threshold. If you’re single and make less than $129,000 a year, you can make contributions to the $6,000 maximum, with a cutoff range up to $144,000. Contributions for couples’ joint income are limited to $204,000, with a cutoff range of up to $214,000.

Don’t miss out on the significant tax advantages of a Roth IRA.

2. Reaching the maximum limit for 401(k) without contributions to IRA 

A 401(k)-contribution limit of $20,500 (or $27,000 if you’re over the age of 50) will be in place for the tax year 2022. Many folks are unable to contribute the full value. Nevertheless, even if you have the resources to donate the full amount, you may discover it to be overvalued.

You must not contribute any less to your 401(k) than your company’s contribution. To maximize your IRA contributions after you have adjusted your payments to your company match, the next stage is to increase your payments.

There are a few reasons why this is a good idea. To begin with, you may not be capable of contributing to a Roth IRA if your income exceeds a certain threshold (conventional IRAs do not have this restriction but do limit the amount you may deduct from your income). IRAs, like brokerage accounts, allow you to invest in any stock or mutual fund you want. When you can invest in various options, rather than only those supplied by your employer, you have greater control over your money or where it flows.

Increasing your 401(k) contributions after maxing out your IRA contributions may be an option.

3. Employing targeted date funds in the 401(k) account

In your 401(k) plan, you’ll see funds named after the year in which they were created, such as ABC Fund 2060. Because they’re called “target-date” investments, the year listed here is the year you’re close to retiring.

To become more cautious as you approach retirement, target-date funds redistribute your assets. On the other hand, target-date funds are more expensive since they are actively managed rather than passively.

Target-date fund expenses can be avoided by investing in the funds that are commonly held in the fund. Suppose you’re in your 30s and have a 401(k) breakdown like this, 60% is invested in the large-cap index fund, a 20% stake in a global index fund, 10% invested in an Index fund for mid-cap companies, and a 10% stake in a small-cap index fund. Please remember that small-cap and mid-cap vehicles are riskier, so you’ll want to avoid them as you get closer to retirement.

4. Miscalculating your Social Security benefits

You can expect to get a monthly Social Security income based on the day you retire. Social Security now considers the age of 67 to be the FRA for anyone born after the year 1960. However, you have the option to begin receiving benefits at the age of 62 or to wait until you are 70 before doing so.

For each monthly claim earlier than your FRA, your benefits are cut by five-ninths of 1%, up to a maximum of 36 months. Taking benefits longer than 36 months prior to your FRA will result in a reduction of your monthly benefit by a fraction of a five-twelfth.

At the age of retirement, the maximum benefit can include $2,364 at age 62, $3,345 at 67 years old or full age of retirement, and $4,194 at age 70.

However, you may need to lower your hopes if you want to get the most out of the program. Monthly Social Security payments average $1,666. Even if you do get more than that, the odds are not in your favor of getting the greatest amount of money possible.

Contact Information:
Email: [email protected]
Phone: 2178542386

Bio:
Bill and his associates of Faith Financial Advisors have over 30 years’ experience in the financial services industry.
He has been a Federal Employee (FERS) independent advocate and an affiliate of PSRE, Public Sector Retirement Educators, a Federal Contractor and Registered Vendor to the Federal Government, also an affiliate of TSP Withdrawal Consultants.
Bill will help you understand the FERS Benefits and TSP withdrawal options in detail while also helping to guide you in your Social Security choices.
Our primary goal is to guide you into your ment with no regrets; safe, predictable, stable and for life using forward thinking ideas and concepts.

Bullet points:
> Financial Services consultant since 1984
> FERS independent advocate and an affiliate of Public Sector Retirement Educators (PSRE), a Federal Contractor and Registered Vendors to the
Federal Government
> Affiliate of TSP Withdrawal Consultants
> His goal is to guide individuals into retirement with safe, and predictable choices for stability using forward thinking ideas and concepts.

Medicare in 2022 – What We Should Expect

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Medicare is a health insurance program of the United States government that subsidizes healthcare services. The plan provides coverage for individuals 65 or older, those younger than 65 who meet certain eligibility criteria, and those with certain diseases. 

Medicare comprises several plans, each providing coverage for a particular aspect of medical care; however, some require the insured to pay a premium. Medicare gives consumers more options in terms of costs and coverage, but it also makes it harder for people to sign up for the program.

Medicare Changes in 2022

According to a report by the Kaiser Family Foundation, the typical Medicare beneficiary will have access to 39 different Medicare Advantage plan options in 2022, more than in recent years. The expected changes would consist of the following:

Improved Alzheimer’s Drug Coverage 

According to the Alzheimer’s Association in the U.S., the disease affects approximately 6 million Americans. It has grown to be a serious issue for the medical industry because it is among the most widespread illnesses that affect people of all ages.

An effort was made to control and help those afflicted by it by the government. For instance, CMS announced that they plan to submit a proposal for a monoclonal antibody drug that could help fight Alzheimer’s disease.

The government is still testing the drug and needs more real-world data before it can be sold to the public. The Food and Drug Administration Authority has approved the use of AduhelmTM as the only treatment for Alzheimer’s disease.

Improved TeleHealth Services

Medicare has over 44 million beneficiaries, making it one of the largest health-related programs in the U.S. The program is designed to cover a large population. It offers some of the most comprehensive treatment plans currently available to patients. As a result, many Medicare beneficiaries have limited mobility or are in poor health, making it difficult for them to access hospital facilities in their area. Sometimes the journey is so strenuous and exhausting that some people prefer to stay home and postpone their doctor’s appointments. It was a significant issue for people during the recent covid outbreak.

Fortunately, Medicare has addressed this issue by providing more telehealth care services to its patients. Telehealth services enable medical professionals to treat COVID-19-related or other medical conditions from the comfort of their own homes, offices, or other locations.

Reduction of Insulin Cost

The price of insulin has historically been a significant burden on the finances of older adults. Many older Americans rely on insulin, which puts their lives at risk if they don’t have it. According to statistics, one in every five Medicare beneficiaries has diabetes. Unfortunately, many people continue to lack adequate access to insulin.

The Part D Senior Savings Model was introduced by the Centers for Medicare and Medicaid Services in 2021, marking the beginning of the process by which the Medicare program would begin to address this concern for senior citizens. This model limits insulin costs to $35 per month.

Since its expansion in 2022, the Medicare Part D Senior Savings Model now assists more people enrolled in the Medicare program. The program has expanded to include all 50 states, the District of Columbia, and Puerto Rico so that everyone can get the same insulin doses at the same price.

Medicare Advantage Changes

Another popular option for Medicare beneficiaries in the U.S. is the Medicare Advantage plan (Part C). People must be aware that there may be numerous changes soon regarding this plan.

The Medicare Advantage Plan (Part C) price has dropped from $21.22 to $19, making it a viable option in 2022. Coupled with the monthly premium for Part B, beneficiaries are responsible for paying an additional premium because of the benefits it provides to users and because the program benefits patients in various ways. The following are some of the most popular advantages of signing up for the Medicare Advantage Plan:

· Amplification devices for the deaf

· Availability of gyms and exercise facilities

· Assistance during an emergency

These plans are easily accessible to people who have a plan subscription. In 2022, experts estimate that the number of people enrolled in Medicare Advantage plans will rise to 29.5 million. People with chronic conditions may also qualify for a 19% to 25% reduction in the monthly premium for their Medicare Advantage plans.

How Do I Sign Up for Medicare?

Once you are eligible for Social Security benefits at age 65, you will be automatically enrolled in Medicare Part A, which covers hospital costs, and Medicare Part B, which covers doctor visits. You are automatically enrolled in these programs without taking any additional steps. On the other hand, you will be required to sign up for additional Medicare-related services. You must enroll in Medicare Part D to receive coverage for prescription drugs. You can apply for this through the Social Security Administration’s website, even if you do not currently receive benefits from Social Security. This should be done within seven months, around your 65th birthday. This window includes the three months preceding your 65th birthday, your birthday month, and the three months following your birthday month.

To qualify for Medicare Supplement Insurance, also known as Medigap, you must enroll in Medicare yourself. This enrollment period begins the month after you reach the age of 65 and are enrolled in Medicare Part B. If you sign up during that period, the private insurers offering Medigap plans are required to accept you. 

It’s possible to switch Medicare plans at any time during the year if you miss the initial open enrollment period or decide to enroll later.

Contact Information:
Email: [email protected]
Phone: 2178542386

Bio:
Bill and his associates of Faith Financial Advisors have over 30 years’ experience in the financial services industry.
He has been a Federal Employee (FERS) independent advocate and an affiliate of PSRE, Public Sector Retirement Educators, a Federal Contractor and Registered Vendor to the Federal Government, also an affiliate of TSP Withdrawal Consultants.
Bill will help you understand the FERS Benefits and TSP withdrawal options in detail while also helping to guide you in your Social Security choices.
Our primary goal is to guide you into your ment with no regrets; safe, predictable, stable and for life using forward thinking ideas and concepts.

Bullet points:
> Financial Services consultant since 1984
> FERS independent advocate and an affiliate of Public Sector Retirement Educators (PSRE), a Federal Contractor and Registered Vendors to the
Federal Government
> Affiliate of TSP Withdrawal Consultants
> His goal is to guide individuals into retirement with safe, and predictable choices for stability using forward thinking ideas and concepts.

An Overview of TSP’s Early Withdrawal Penalty

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If you’re a federal employee leaving the government, you may have heard that early withdrawals from accounts like the Thrift Savings Plan (TSP) might result in penalties.

Penalties, especially levied by the IRS, should be avoided when possible. Let’s go through an overview of the early withdrawal penalty.

Background

So, let’s start. You’ve worked hard to save money in a tax-deferred account like a Thrift Savings Plan (TSP) all your career. You plan to use that money in retirement, but the IRS has set rules for when you can withdraw it. Remember, the IRS granted you a tax break when you earned that money. You know you’ll have to pay them eventually, right? When you earned money, they handed you the pass, but there were some strings attached as you can only access it at 59.5 years or later. 

There are certain exceptions, and we’ll discuss them for the TSP. But first, let’s explain the IRS rule. A person who withdraws money from a tax-deferred account before age 59.5 will be charged a 10% IRS early withdrawal penalty. This penalty is in addition to any standard tax you owe. 

TSP’s Special Rule 

There are some special rules for the TSP. Federal employees who retire or leave federal service in the calendar year they turn 55 can take TSP funds without penalty. 

First, note that the TSP doesn’t differentiate between retiring and separating. Either you work, or you don’t. Some things are allowed if you’re employed, and others if you’re separated or retired (of all the actions that TSP can do for you). 

Next, let’s discuss if you retire “in the calendar year you reach 55.” If you turn 54 in October and want to retire at the end of the year, that won’t be the calendar year you turn 55. That year, you turned 54. To avoid a penalty, you must wait until the following year. 

This exception, the TSP’s special rule, only applies to funds straight from the TSP. You can’t move money from the TSP to a private IRA and then obtain a dividend from it. You’ll be penalized if you do so. Special provisions employees, like police enforcement officers, firefighters, and air traffic controllers, have a special age of 50, not 55. You can retire considerably earlier than the usual government employee. Therefore they’ve made an exception for you if you fit into one of those categories. Everything else is the same. 

Who’s Affected

Employees with regular retirements are exempt from any penalty. Regular retirement is when employees have reached their minimum retirement age (MRA) and have the required years to go. They include those who aren’t special provisions employees, law enforcement officers, firefighters, or air traffic controllers.

A penalty may be imposed on an employee who retires early. That’s where a job vanishes—someone retiring under deferred retirement regulations, unable to collect their pension immediately. Then there’s the special provision workforce. So even though they have special rules, they may still be penalized. We’ll explain how later. 

Triggering the Penalty

There’ll be different rules if you do or don’t fulfill these special rules, and you trigger the penalty. So, let’s look at a few scenarios. 

If you’re under the age of 59.5 and don’t meet the special rules, you’ll be penalized regardless of whether you take your money immediately from the TSP or roll it to an IRA and subsequently take it. You can roll the entire account into a private-sector IRA or keep it all in TSP. Any money taken before age 59.5 will be subject to a penalty. 

If you’re under 59.5 and meet the special rules, you’ll enjoy penalty-free access to your TSP money until you turn 59.5. Don’t forget that when the funds touch an IRA, they lose the special rule allowed by the IRS. 

Moving TSP Money to an IRA

Don’t worry. There’s a way to move some money to an IRA without penalty. Assuming you have money in the TSP, you know that moving the entire account to an IRA will result in a penalty on any withdrawals made before 59.5 years of age. The key is leaving enough money behind to cover the time between separation and 59.5. You can put the rest in an IRA and let it grow and do its thing. Just don’t touch it till you reach 59.5. 

You can get the best of both worlds if you do as mentioned above. You can avoid paying the penalty on the money you take from the TSP. And with the private IRAs, you get all the flexibility and control. The trick is to wait until you’re 59.5 or older to get the money. 

Other Options For Avoiding The Penalty

There are alternative ways to avoid the penalty inside the TSP. For example, if you’re a disability retiree, it has to be a total and permanent handicap; you won’t also be penalized if you withdraw your TSP in particular ways, like taking a TSP annuity which is not recommended for many reasons. 

Another alternative is if your deductible medical expenses surpass 10% of your adjusted gross income or if you prefer to have your money paid in substantially equal installments. It can be straight from the TSP or from an IRA. Getting those payments out, not in a monthly form that you choose, but allowing the entire account to be calculated as if it was paying you out throughout your lifetime, would be enough to avoid the penalty. The downside is that you could face a total penalty if you change your mind. 

Assume you depart the federal service at 55 as a regular employee. In this case, if you decide to make these substantially equal payments and have the TSP calculate your monthly payments but not annuitize them, and then at age 58, you decide to change your mind because you’re not getting enough income from your TSP, they will assess the penalty as if you hadn’t done anything properly from age 55 to 58. 

Contact Information:
Email: [email protected]
Phone: 2178542386

Bio:
Bill and his associates of Faith Financial Advisors have over 30 years’ experience in the financial services industry.
He has been a Federal Employee (FERS) independent advocate and an affiliate of PSRE, Public Sector Retirement Educators, a Federal Contractor and Registered Vendor to the Federal Government, also an affiliate of TSP Withdrawal Consultants.
Bill will help you understand the FERS Benefits and TSP withdrawal options in detail while also helping to guide you in your Social Security choices.
Our primary goal is to guide you into your ment with no regrets; safe, predictable, stable and for life using forward thinking ideas and concepts.

Bullet points:
> Financial Services consultant since 1984
> FERS independent advocate and an affiliate of Public Sector Retirement Educators (PSRE), a Federal Contractor and Registered Vendors to the
Federal Government
> Affiliate of TSP Withdrawal Consultants
> His goal is to guide individuals into retirement with safe, and predictable choices for stability using forward thinking ideas and concepts.

Changes in the Fixed Index Annuity Industry in the Last Decade

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Bill Hoff

Author

Fixed-indexed annuities (FIAs) were once largely restricted to the “Wild West” of the life insurance and annuity industry. It has since gained popularity and become one of the industry’s most important products. This article will examine some changes in this product category from 2011 to 2021. 

The foremost FIA issuers

When it comes to FIA sales, those who were already strong have become even stronger. Apollo Global Management, Athene USA, and Allianz Life’s US subsidiary, Allianz Life, finished first or second in the FIA sales race for the 12th consecutive year in the last 18 years. Moore noted that the list of the 10 most popular FIAs for 2021 has remained remarkably stable since 2011. However, Athene, Allianz Life, and American Equity have always been among the top 10 in terms of sales.

Since 2011, AIG has been the largest life annuity company to break into the top 10 FIA issuers, while Jackson National Life has been the largest FIA issuer to withdraw in 2011. Also, private equity firms have increased their involvement in the FIA market over the past decade.

Revenue has doubled in 10 years.

FIAs have adapted well to low-interest rates over the past 14 years. The revenue reached a high of $65.513 billion in 2021, up from 58.235 billion in 2016 and $32.387 billion in 2011. Even though sales were down from the peak year of 2019, they were up from the $58.142 billion they reached in 2020 during the COVID pandemic.

The Bermuda Triangle element

Apollo was the first company to implement what RIJ refers to as the Bermuda Triangle model after purchasing Aviva in 2012 and rebranding it as Athene. Since then, the strategy has been widely imitated. It typically involves a Bermuda or Cayman Islands reinsurer, a Bermuda or Cayman Islands FIA issuer, an asset manager skilled in originating high-risk “leveraged loans” and other alternative assets, and an FIA issuer.

For example, in 2021, Athene USA used reinsurance to move billions of dollars of new FIA sales off its balance sheet and onto the balance sheets of reinsurers that were part of the holding company that Athene USA was part of.

Athene Life and Annuity of Iowa reported $22.4 billion in new annuity sales in 2021 on its annual statutory filing in Iowa. Athene Annuity Re of Bermuda and an Athene affiliate in Delaware received about $18.8 billion from Athene.

Wink, Inc. reported sales of indexed annuities worth $7.7 billion by Athene USA, but the company only reported sales of indexed annuities worth $775 million in its statutory filing.

Commissions

When selling FIAs, independent insurance agents can earn more commissions than when selling any other type of insurance product. Financial incentives provided by life insurance and annuity companies in the late 1990s and early 2000s fueled the FIA industry. The average FIA commission before the financial crisis was more than 8%, and 9-11% commissions were not uncommon. Following the crisis, the average declined. The top-selling annuity pays a street-level commission of 6.5%, the maximum that wholesalers (such as field marketing organizations or FMOs) are permitted to advertise. The street rate does not include the ‘override’ received by wholesalers, which can be as high as 3%.

Surrender periods

Commissions are greater for more extended surrender periods. The percentage of 10-year contracts sold has remained around 50% over the past decade.

In 2011, fewer than 15% of contracts had seven years or fewer surrender terms. This percentage increased to 25% in 2016 and 36% in 2021. Moore stated that the decline in commissions is due to the growing popularity of shorter surrender periods.

Distribution networks

Contracts sold through bank and broker-dealer channels typically have shorter surrender periods. Sales of five- and seven-year bonds have increased as more firms serving the bank and broker-dealer channels have entered the market.

Almost 90% of FIAs were sold by independent insurance agents 10 years ago, at the end of the so-called “Wild West” era of the FIA industry. By 2016, additional distributors, particularly independent broker-dealers and banks, began carrying the product as an alternative to bonds with a higher yield.

In 2016, insurance-licensed advisers at independent broker-dealers and banks accounted for approximately 14% of sales, while the insurance agent channel share declined to 61%. In 2021, independent broker-dealer sales decreased to 10.8%, while independent agent sales increased to 65%.

Income riders

For several years, FIA issuers have been adding “guaranteed lifetime withdrawal benefit” (GLWB) riders to their contracts. For the contract owner to get the most out of these riders, they usually need an explicit fee of 1% or more and a 10-year holding period. Even after initial income, contracts can revert to their principal, but if they do, their income could decrease.

In 2016, 20.4% of contract owners, on average, received lifetime income riders on their FIAs, according to her survey of insurers offering such riders. It is difficult to predict how many individuals will use them in the future.

Conclusion

Over the past decade, the FIA industry has remained essentially unchanged. People between the ages of 55 and 65 still purchase them. The products with the highest crediting rate continue to generate the most investor interest. 

However, much has also changed. Distribution has expanded to include banks, independent broker-dealers, and independent agents. 

The mainstreaming of the FIA may be the most significant change over the past decade. With the assistance of Wall Street, it has emerged from the shadows into the limelight. The FIA resisted the SEC and the Department of Labor’s efforts to regulate it more strictly.

Contact Information:
Email: [email protected]
Phone: 2178542386

Bio:
Bill and his associates of Faith Financial Advisors have over 30 years’ experience in the financial services industry.
He has been a Federal Employee (FERS) independent advocate and an affiliate of PSRE, Public Sector Retirement Educators, a Federal Contractor and Registered Vendor to the Federal Government, also an affiliate of TSP Withdrawal Consultants.
Bill will help you understand the FERS Benefits and TSP withdrawal options in detail while also helping to guide you in your Social Security choices.
Our primary goal is to guide you into your ment with no regrets; safe, predictable, stable and for life using forward thinking ideas and concepts.

Bullet points:
> Financial Services consultant since 1984
> FERS independent advocate and an affiliate of Public Sector Retirement Educators (PSRE), a Federal Contractor and Registered Vendors to the
Federal Government
> Affiliate of TSP Withdrawal Consultants
> His goal is to guide individuals into retirement with safe, and predictable choices for stability using forward thinking ideas and concepts.