Inflation protection guaranteed income for two lifetimes using Genworth’s SecureLiving Income Provider Single Premium Immediate Annuity (SPIA)
Grandparents love their children, but they are in love with their grandchildren. An AARP survey of grandparents shows that 90 percent of them believe they play an important role in their grandchildren’s lives.
The SecureLiving Income Provider provides tax advantaged income payments, guaranteed lifetime income, and the ability to leave a stream of income to a beneficiary.
Multi-generational income planning represents a unique value proposition of annuities, which may commonly be overlooked when concentrating on the retirement income planning aspects of annuities.
As advisors help facilitate this conversation with their clients, one compelling option that will allow for grandparents to create a multigenerational income plan with non-qualified money is an immediate annuity. Instead of leaving a lump sum of money, an immediate annuity can provide a grandparent the opportunity to create a living legacy by stretching an income stream across multiple generations.
In some cases, depending on grandparents’ circumstances and planning and beneficiary contract decisions, these strategies can help secure the financial future of children, grandchildren and beyond.
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