Business, 23.04.2021 16:10, GreenHerbz206
William purchased a deferred annuity several years ago. Alex, his representative, helped him choose a Northwestern Mutual fixed annuity that matched his time horizon and needs. Now, William, age 75, needs income and is requesting that Alex provide options with his deferred annuity. During a brief conversation, Alex did learn from William that he is nervous about outliving his retirement assets. Which one of the following is a possible and logical option for Alex to discuss with William?
a. Recommend that William move the funds from the deferred annuity into a 5 year CD because William is conservative.
b. Recommend that William look at various guaranteed lifetime income options from his existing deferred annuity and possibly reallocate other assets into a Single Premium Immediate Annuity that provides guaranteed Income.
c. Recommend that William move the dollars that are in the deferred annuity into a Single Premium Immediate Annuity and then choose a seven year period certain income plan because that coincides with William's life expectancy.
d. Do nothing. William should wait three to five years before he begins receiving income
Answers: 3
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