Life Is Short, But How Short?

We have all heard the saying, "Life is short." We all know what that means. Time flies by, and the years seem to sail by as we age. When we focus on that, we usually think of things we want to do or accomplish and decide that we had better get on it.

But life can also be very long, and for some, that could become a problem. Longevity is one of the greatest challenges people face when looking at their retirement income plans. We might just live longer than the actuarial tables predicted. According to many surveys, this is a leading concern for financial professionals when planning for their clients' retirement.

For those in the investment arena, they try to have a good balance of conservative investment while keeping some equity stocks in the portfolio to preserve capital growth. Some pros will use bonds to take care of essential expenses. You know… the home, the loans, the utilities, etc. But sometimes life gets in the way, and there are some circumstances beyond our control that can derail the plan. A good example could be geopolitical events that shatter or upset financial markets.

So, what about the client who does not want to take any chances? The one who just wants the guarantee? Well, the answer is obvious. Annuities with income options can provide clients with an income they can never outlive and peace of mind knowing that they can plan for their lives, no matter how long they live. There can be other factors, like a chronic illness or a long-term care event. And of course, we have those products and riders as well!

What you can do is say to your client, "Tell me what you need and when you need it. I will give you the exact amount of money you should deploy in this annuity, and I will make it happen." Keep it simple, explain our products, and let people sleep at night. Because remember, life could be very long.

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Until next time… good selling!
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Raymond J. Ohlson
Founder & Retired CEO
Ohlson Group
​1-877-844-0900