With the large number of annuity products and features available from
multiple insurers it can often be challenging for a financial professional
to effectively focus on the carriers, products, and features that best
meet the objectives and needs of an individual client. The Annuity
Wizard helps financial professionals identify the subset of products
that best meet the client’s objectives. Not only are the products
filtered, but features such as living benefits are analyzed and
presented. This ensures that the right products with the right features
are evaluated and discussed with the client. The RightBRIDGE Annuity
Wizard process is outlined in the following five steps:
Step One: Fact Finding
The RightBRIDGE Annuity Wizard gathers a client’s information
including preferences and future desires.
The Annuity Wizard gathers the client’s preferences regarding liquidity, time horizon, risk tolerance, income, withdrawals and need for living benefits.
Step Two: Evaluation of Annuities
The engine determines the relevance of specific annuities from the company’s inventory of available annuities. Each annuity is also evaluated, and where appropriate, each living benefit rider is evaluated based on factors such as:
- Available income at the target withdrawal
- Flexibility of investment options
- Step ups to the benefit base
The RightBRIDGE engine has the flexibility to consider the various options and calculation methods of target income. These calculations combined with the scoring component of RightBRIDGE allow these complex options to be uniquely configured against the needs and preferences of the client. The configured and ranked annuities are listed on a results screen within the RightBRIDGE Annuity Wizard.
Step Three: Summary of Results
A financial professional can select any of the annuities listed and is provided with detailed reason text™ on each annuity and rider
option. Reason text™ explains the calculations in terms that help the advisor quickly understand and ultimately help the advisor explain the solution to the client as illustrated on the screen to right.