Annuity is basically an investment contract between a client and insurance firm enjoying a special tax benefit as a result. For many, it is usually taken as a retirement plan. Just like any other financial asset, you need a very good annuity advisor is you are to rip its full benefits. The consultant is charge of selecting a good investment plan for the clients and advising them accordingly.
Annuity investment choice is associated with several advantages. It is an investment vehicle that guarantees steady income especially after retirement. It also increases income that comes at retirement; it also gives a way to protect your assets from any claims from creditors and any probate. Other than this, it is the best way to ensure that you pass more to your heirs.
The main types of annuities include the variable annuities, fixed annuities, the immediate annuities and value filed annuities and equity indexed annuities. All these are options have significant variations and each can be recommended when the financial goals of the client are considered. It is the job of your consultant to advice you on what can work best for you.
It is the obligation of the advisor to organize his product so that all the requirements put forward by the customer are considered. This is done with the end goal of protecting the client assets and growing them whenever opportunities come by. Not all the products in the market are appropriate for the client and the consultant should always have this in mind.
Normally, the consultant is expected to advice his or her clients to take the plan that to the best of their interest. This should be the one the client is interested in after being informed of all the necessary details. Basically, a good advisor educates his customers on the investment plans that they are curious about. All these are done why adhering to a strict code of conduct governing the rules of operation.
The major issues that your consultant should avoid include misrepresentation of information in sales of the insurance or other financial related products, false advertising, defamation, twisting, rebating (offering the client inducement in any form), use of bait and switch to get client purchase what was not originally planned for.
In addition to these, an annuity consultant must adhere to the same rules governing all other players in financial sector. This include talking ill of the services, products and character of their competitors (unless there are proven criminal or civil records to support their case). They should instead focus their effort on informing the current and prospective clients on what the stand to benefit from after they buy the proposed product.
Many financial consultants would not recommend their clients to buy products from insurance firms that have issue with the going concern. With good ground work however, the client investment may not be at risk at all. They are the best option to mitigate against the longevity risks.
Here are some tips that could help the consultants locate the best option for their clients. Evidence shows that the bigger the insurance firm, the lesser the solvency risks. In addition to this, paying close attention to Fitch, Moodys and S&P ranking can be very helpful. Lastly, it is important to clearly understand the terms of engagement among others.
Annuity investment choice is associated with several advantages. It is an investment vehicle that guarantees steady income especially after retirement. It also increases income that comes at retirement; it also gives a way to protect your assets from any claims from creditors and any probate. Other than this, it is the best way to ensure that you pass more to your heirs.
The main types of annuities include the variable annuities, fixed annuities, the immediate annuities and value filed annuities and equity indexed annuities. All these are options have significant variations and each can be recommended when the financial goals of the client are considered. It is the job of your consultant to advice you on what can work best for you.
It is the obligation of the advisor to organize his product so that all the requirements put forward by the customer are considered. This is done with the end goal of protecting the client assets and growing them whenever opportunities come by. Not all the products in the market are appropriate for the client and the consultant should always have this in mind.
Normally, the consultant is expected to advice his or her clients to take the plan that to the best of their interest. This should be the one the client is interested in after being informed of all the necessary details. Basically, a good advisor educates his customers on the investment plans that they are curious about. All these are done why adhering to a strict code of conduct governing the rules of operation.
The major issues that your consultant should avoid include misrepresentation of information in sales of the insurance or other financial related products, false advertising, defamation, twisting, rebating (offering the client inducement in any form), use of bait and switch to get client purchase what was not originally planned for.
In addition to these, an annuity consultant must adhere to the same rules governing all other players in financial sector. This include talking ill of the services, products and character of their competitors (unless there are proven criminal or civil records to support their case). They should instead focus their effort on informing the current and prospective clients on what the stand to benefit from after they buy the proposed product.
Many financial consultants would not recommend their clients to buy products from insurance firms that have issue with the going concern. With good ground work however, the client investment may not be at risk at all. They are the best option to mitigate against the longevity risks.
Here are some tips that could help the consultants locate the best option for their clients. Evidence shows that the bigger the insurance firm, the lesser the solvency risks. In addition to this, paying close attention to Fitch, Moodys and S&P ranking can be very helpful. Lastly, it is important to clearly understand the terms of engagement among others.
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