The Income Blueprint tool seeks to make it easier for advisers to choose and evaluate in-plan guaranteed income products for their clients.
A New AIG Life & Retirement study shows respondents are focused on long-term financial planning, with many intending to seek help from a financial professional during 2022.
The firm says there is significant consumer interest in an in-plan investment option that guarantees lifetime income in retirement.
A survey also found nearly half of employees prefer to have a mix of investments and lifetime income over either traditional pensions or investments alone.
Experts speaking during a webinar said annuities provide an alternative to bonds that reduces longevity and sequence-of-return risks.
Providing Guaranteed Income and Advisory Services Among Recommendations to Improve Retirement Security
Reducing debt and having a clear spend-down strategy were also among the four keys to facilitating financial security in retirement identified by EBRI's Retirement Security Research Center.
The solution can be traded like mutual funds, delivers maximized returns and offers distribution flexibility.
A study by Greenwald & Associates and CANNEX shows those close to retirement highly value guaranteed income to supplement Social Security, and suggests advisers consistently underestimate clients’ interest.