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 "..." 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:
Please use the hyperlinks below for a more thorough overview of each annuity type, including descriptions of each data entry field:
- 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.