Guaranteed lifetime income and long-term care needs are two essential elements of a comprehensive retirement plan. As people live longer, maintaining financial stability throughout retirement is critical. At the same time, incorporating long-term care solutions into retirement strategies provides a safety net against the potentially overwhelming cost of long-term care, giving clients peace of mind.
In this episode, DPL's Regional Vice President of Member Success, Jackson Bradley, and Internal Consultant, Matt Robinson, talk about guaranteed lifetime income and long-term care solutions. They explore the difference between annuitization and lifetime income, tax treatments of lifetime income withdrawals, and long-term care enhancements.
In this episode:
- [01:23] - Matt's background and role at DPL
- [02:49] - The differences between annuitization and lifetime withdrawals
- [06:30] - Traditional income base vs. deferral credits
- [09:56] - Replacing old variable annuities with high-income bases
- [12:42] - Tax treatment of lifetime income withdrawals
- [14:46] - Non-qualified annuity stretch explained
- [16:53] - Long-term care enhancement
- [19:23] - Matt's final thoughts
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