Rocco Carr, Business Development Manager
Many people that get to retirement need to decide whether they would like to take a living annuity with all the flexibility, or rather would like to go into some sort of guarantee where the capital is lost when you pass away but your income is guaranteed for life. It’s a conundrum that many people battle with, because what might be suitable at this stage of your life might not be suitable going forward.
Combining solutions to get both flexibility and security
As a solution, we believe that you need to combine various types of products – guaranteed products, living annuities, and some of your income protectors into a specific combination. This will allow you flexibility in the type of product that you use, with the guarantee looking after desperate needs and then the living annuity component giving you flexibility at the moment – but in future it might also even lead to a second guarantee. That to me, is the better way to look at retirement.
The days where a single retirement product solves all your problems for life is gone. It’s now about income stream management by combining various products at retirement.