Income Annuity Support

An important difference in Go2Income's programs is the focus on income strategies involving dividends, interest, managed withdrawals from model investment portfolios and annuity payments provided through income annuities. Go2Income together with the 2Income Annuity Group provide support and advice around income annuities whether you're considering as part of a Go2Income program or as a standalone purchase.

The Go2Income website provides various tools enabling you to research and obtain quotes on Income Annuities on your own. Additionally, an Advisor-Counselor is available to discuss annuity options with you, including where, how, and when you purchase. The Advisor-Counselor can also assist you in creating a plan for retirement income incorporating the Income Annuity purchase you’re considering.

Here is a list of some the things you should consider in including annuity payments as part of your plan.

How do Annuity Payments Fit into my Plan for Retirement Income?

If an investor decides that annuity payments make sense as part of a plan for retirement income, then several questions need to be answered.

What is the source of the premiums? Should it be your Rollover IRA and 401(k) savings, your personal (after-tax) savings or deferred fixed or variable annuities? Because of the special tax advantages of income annuities, it’s important to select the smartest savings source to be the source of the purchase.

Should annuity payments start immediately, or at one more future dates? The guaranteed lifetime annuity payments provide a level of security that improves the rest of your plan. If payments start immediately, they provide a floor of income security from the start; if they start later in retirement, they provide security (“longevity protection”) in case you live beyond the average life expectancy (50% of investors will). Taken together, these income annuities provide a “belt and suspenders” form of security. An Advisor-Counselor can provide you with an example.

Should Annuity Payments Continue for My Spouse and/or Beneficiary?

This is an important question, and depends on your personal situation, and that of your family members. Here are a few questions to consider recognizing that continuing those payments after your passing reduces your income when you’re alive:

  • Does your spouse have his/her own source of income?
  • Are you better off taking care of your income needs during your lifetime rather than leaving a larger legacy in terms of continuing payments?
  • Do you have other ways to protect your spouse or beneficiaries’ income? Is the legacy from your plan adequate?

  • Which Annuity Company Should I Pick to Make and Guarantee Annuity Payments?

    While investors often pick the annuity carrier first, and answer the questions above second, it’s important to reverse the order. Based on our experience, no single company offers the highest annuity payments for all forms of income annuities at any point in time. In selecting a carrier, here are the questions to be answered:

  • Which carrier guarantees the highest annuity payments for plan you’ve designed? Since carriers use different investment, actuarial and expense/profit models they may not be competitive for the annuity you selected?
  • What is the rating of the company you selected? While the 2Income Annuity Group only offer companies with ratings of A or better by AM Best you may want to favor the highest rating over the best rates.
  • When considering multiple annuities for a single plan, which single company offers in combination the largest income? You may want the convenience of dealing with a single carrier. On the other hand, you may want the benefit of diversification.

  • We will guide you in your decision process.

    Take advantage of our Annuity Shopping Service, which reviews the market for features, rating changes, and competitive rates. If you are purchasing as part of a program or on a standalone basis, we will handle the implementation, including all financial transfers and a suitability review.