Flexible premium annuity with libr for 55&49 yo

[rc26]

Is 6-7 years long enough to let iul cook?

 

[marc82much]

Is 6-7 years long enough to let iul cook?

Good question, and maybe not. Proper programming by a highly skilled professional is called for here.

 

[Allen Trent]

$100,000 up front and then $5,000 per month gets you $1,577 per month guaranteed for life.

I am not sure this is a simple math problem that can be solved like that, can it? wont the lifetime guarantee vary based on age & if the check is guaranteed for single or joint life?

Or maybe it is that simple & I am overthinking it.

 

[Allen Trent]

Or go with an IUL and get an immediate Death Benefit of $2,573,465, and tax free income for life. Not to mention $1,500,000 Terminal Illness -- $26,000/mo Chronic Illness -- $1,000,000 lump sum for Critical Illness OR Critical Injury. Might be better than an annuity.

can you guarantee both the life time income for life & the tax free for life? not just in a spreadsheet, but in real life with real people managing it over decades while aging, having dementia, entering a nursing home or being in a Medicaid spend down, etc.

or are you merely using the current assumptions of an IUL along with the current internal costs, the current efficiency of the options market & current cap/par rate offerings. If so, it would be a very depressing conversation when they are 87 years old & have to explain all their money is gone & the checks are ending. I am sure their children would be OK when you explain at least they had a tax free death benefit for those years until it ended

I like IUL, I just think you have to be cautious not to force it's use into a need for guaranteed lifetime income that is needed for budgeting & paying bills

 

[marc82much]

I am not sure this is a simple math problem that can be solved like that, can it? wont the lifetime guarantee vary based on age & if the check is guaranteed for single or joint life?

Or maybe it is that simple & I am overthinking it.

You are correct. But I don't do practice quotes. If this was a real deal, and not just a "what if?"...I would analyze it fully. But it is not, and I did not.

 

[marc82much]

can you guarantee both the life time income for life & the tax free for life? not just in a spreadsheet, but in real life with real people managing it over decades while aging, having dementia, entering a nursing home or being in a Medicaid spend down, etc.

or are you merely using the current assumptions of an IUL along with the current internal costs, the current efficiency of the options market & current cap/par rate offerings. If so, it would be a very depressing conversation when they are 87 years old & have to explain all their money is gone & the checks are ending. I am sure their children would be OK when you explain at least they had a tax free death benefit for those years until it ended

I like IUL, I just think you have to be cautious not to force it's use into a need for guaranteed lifetime income that is needed for budgeting & paying bills

Thanks for the advice.

 

[Annexus Solutions]

Not sure if your interested but 100k with 5k a month for 5 years can guarantee $1,723 per month or $20,684 per year for life on a Guaranteed basis.
Based on most recent 15 it is $2,253 per month for life or $27,031 per year.

the LSW has a cap of 2.9%. So all you have is the 1500 a month. The product above still has accumulated value and death benefit.
Let me know if you want the illustrations.
~C

 

[marc82much]

Not sure if your interested but 100k with 5k a month for 5 years can guarantee $1,723 per month or $20,684 per year for life on a Guaranteed basis.
Based on most recent 15 it is $2,253 per month for life or $27,031 per year.

the LSW has a cap of 2.9%. So all you have is the 1500 a month. The product above still has accumulated value and death benefit.
Let me know if you want the illustrations.
~C

Who are you talking to?

 

[Annexus Solutions]

Was RC26, but you as well I guess.
how are you?

 

[Allen Trent]

Who are you talking to?

Don't be mean to my new best friend. His 1st 2 comments in the forum were praising me for something I never said.