Help your clients get the income they want and the flexibility they need.
Introducing MetLife’s new retirement income solution
Ensuring a comfortable standard of living in retirement requires a plan for the long term. Americans are living longer and traditional sources of retirement income, such as pension plans are becoming less prevalent. As you no doubt know, running out of money is now a major financial concern - 41% of retirees say they’re concerned about having enough money to last a lifetime – and clients continue to identify the impact of market volatility on their retirement as their number one retirement concern.1
1 Sources: Russell Investments found in its Financial Professional Outlook, November 2014 (volatility) and IRI’s 2014 Report on Retirement Income Attitudes (running out of money).
2 Guarantees are subject to product terms, exclusions and limitations, and the insurer’s claims-paying ability and financial strength.
3 Provided your client stays within the provisions of the rider. See prospectus for details.
4 Annual Compounding is referred to as Rollup Rate in the prospectus.
5 A contract owner’s “Benefit Base” is used to determine the maximum amount of withdrawals they can take annually, as well as the future lifetime income payments. It compounds at 5 percent for the first 10 contract years in years no withdrawals are taken, regardless of what happens in the market or to the client's account value. The Benefit Base is not available to be taken as a lump sum or paid as a death benefit and does not establish or guarantee a contract owner’s account value under a contract or a minimum return for any investment fund.
6 Automatic Step-Ups may increase annual charge to a fee not to exceed 2.00%.
7 Source: “Finding the Right Mix: Retirement Income Attitudes and Preferences,” LIMRA Secure Retirement Institute 2014.
A MetLife variable annuity with FlexChoice can help.
MetLife has been helping to secure people’s retirements for decades, and recently announced the launch of the optional FlexChoice guaranteed lifetime withdrawal benefit rider available with MetLife’s flagship variable annuities for an additional fee. FlexChoice offers guaranteed lifetime income regardless of market conditions while allowing for the potential for growth if the market performs well2.
“Retirement investors are looking for the certainty guarantees can provide. They realize that it’s important to not only invest for retirement, but to also insure for retirement.” said The FlexChoice rider offers clients several ways to grow future income:
Elizabeth Forget, executive vice president, MetLife Retail Retirement & Wealth Solutions, “FlexChoice provides investors the confidence that they seek by offering guaranteed lifetime income with flexible features to adapt as circumstances change.3”
Protect and Grow Lifetime Income
1. Future income will compound annually4 at 5% for the first 10 contract years regardless of market conditions, in years where no withdrawals are taken5.
2. Annual Automatic Step-Ups6 capture market gains up to age 91.
Adapting to life’s changes requires flexibility
According to LIMRA, 55% of clients want the ability to change their retirement plan as their needs change.7 Ask yourself this: how many times have you needed to alter a client's retirement plan because something happened that wasn’t anticipated? Markets go up and down. People may get married or divorced, face employment changes, get sick, or die sooner than expected.
“FlexChoice gives clients the opportunity to make decisions about their investments for retirement at key moments that are relevant and right for them,” says Forget. “As a result, clients can secure guaranteed lifetime income today while maintaining the ability to adapt as their financial needs change.” 2
Real-Life Flexibility Helps Clients Adapt to Changing Needs
Besides providing the income clients want, FlexChoice offers the real-life flexibility they need. Clients have the freedom to adjust their retirement income solution as their needs change, rather than locking in all decisions at the time of purchase.
With FlexChoice, clients can start and stop withdrawing income at any time, and choose whether they want level payments for life or need more income early with a lower guarantee in later years. This puts them in control of their retirement income.
Unique Flexibility for Spouses
FlexChoice may become the preferred guaranteed lifetime withdrawal benefit for married couples because it provides the ability to receive income for 1 or 2 lives at no additional charge. Clients do not have to make the decision to cover their spouse at the issue date and can choose to do so at a later date.
You can feel confident when choosing MetLife FlexChoice provides guaranteed lifetime income – along with the opportunity to benefit from any market growth – while offering real-life flexibility to adapt as life unfolds, so clients can retire on their terms and on their time.
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It is possible to lose money in a variable annuity even when an optional protection benefit is elected. The prospectus for a MetLife variable annuity issued by a MetLife insurance company is available from MetLife. The contract prospectus contains information about the contract’s features, risks, charges and expenses. Clients should read the prospectus and consider this information carefully before investing. Availability and features may vary by state. MetLife variable annuities are long-term investments designed for retirement purposes and have limitations, exclusions, charges, termination provisions and terms for keeping them in force. The account value is subject to market fluctuations and investment risk so that, when withdrawn, it may be worth more or less than its original value. Variable annuities, other than Preference Premier®, are issued by MetLife Insurance Company USA, Charlotte, NC 28277 on Policy Form 8010 (11/00). The Preference Premier variable annuity is issued by Metropolitan Life Insurance Company on Policy Form PPS (07/01) and is offered through MetLife Securities, Inc. (member FINRA/SIPC). All variable products are distributed by MetLife Investors Distribution Company (member FINRA). All are MetLife companies. © 2015 MetLife, Inc.