Annuity models in RightCapital allow you to pre-build annuities and distribution options into your Advisor Portal, and easily import them into any of your client plans going forward. Annuity Models can be seen and customized for use in the Advisor Portal > Models > Annuities tab:
To create a new annuity model, click the "Add Annuity Model" button in the upper left. After being created, the new annuity model can be renamed by clicking the pencil and paper icon:
After adding an Annuity Model, you can use the 'Annuity Type' menu on the right to choose between Variable, Fixed, Indexed, and Indexed Variable. The data entry fields beneath will update to reflect your chosen option, allowing you to enter the necessary parameters:
Looking for more on Annuity Types?
Please use the hyperlinks below for a more thorough overview of each annuity type, including descriptions of each data entry field:
With your annuity type selected and the data entry fields completed, you can then choose to enter one or more distribution options for that annuity by clicking the + Add Distribution button. You can choose between Annuitization and Lifetime Income, and then fill out the corresponding data entry fields:
- Annuitization will surrender the account value in exchange for a guaranteed fixed income stream. This option will populate new fields to enter the details of the annuitization.
- Lifetime income can be used for an annuity that has a guaranteed lifetime income rider or associated benefit. This option will populate new fields to enter the details of the lifetime income guarantee.
After new annuity models are created and saved in the Advisor Portal, they can be easily copied into any client plan. Annuity models can be used in two locations:
- When entering an annuity as an asset into a client's Current Plan, in the Profile > Net Worth section.
- When proposing an annuity purchase as part of a Proposed Plan, in the Retirement > Analysis section.
