We market insurance products with strong guarantees. Every insurance line will have different premiums required to fund certain policies. Pricing takes into account product features, risk factors and current market conditions among many other considerations. The basic idea of insurance is that the insurer is exposed to more of "the risk" than the insured. Sometimes premiums may be more than they need to be for the same "intended" coverage due to the product selected. A cost of insurance that hides in the product specifications. When it comes to retirement income, all options should be placed on the table and compared. Leaving out viable options simply because they have fewer components, a perceived negative reputation, or just pay far less commission may have a long lasting financial impact on a retirees lifestyle. Let's look at premiums associated with "insuring" a retirement income.
A client is in need of income and wants it guaranteed for life. What options does the client have using insurance? ..... read more | See on LinkedIn |
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