A comfortable, worry-free retirement is the fundamental goal for most retirees who have saved and invested wisely for their "golden years". A well-planned retirement income plan like the Symetra Customized Retirement Income Model (CRI Model) can help your clients reach that goal. But some clients want to do more than take care of themselves, they want to leave something behind.
You can help your clients plan for a reliable retirement income today, and still provide a “legacy” for their families or favorite charities by adding Symetra Complete Variable Life Insurance to the CRI Model.
What is CRI?
The CRI Model is an income-planning solution based on a foundation of guaranteed income and long-term investments. It is powered by an income annuity for guaranteed income early in retirement, and equity-based investments for later.
The CRI Model provides income for 25 years with the goal of returning the initial investment at the end the term. Using a mathematically-driven process, the CRI Model divides your clients’ retirement savings into six segments, each intended to provide five years of income.
As your clients progress through retirement, each succeeding segment transitions to the next five-year phase using an income annuity so that clients always have a reliable income stream. Our new eight-minute online video explains how the CRI Model works.
At the end of the 25-year cycle, clients can re-initiate the investment cycle or elect to move their assets to a wealth transfer vehicle. Some clients, however, may wish to plan early for a legacy for their estate. That’s where Symetra Complete can play a role.
Tax Efficient Legacy Planning
By purchasing a Symetra Complete variable life insurance policy for the sixth and final segment of the CRI Model, clients can provide a more tax-efficient transfer of assets.
Annuities provide consistent, reliable retirement income, but if a client dies, the beneficiary will pay income taxes on the gain. Death benefits from life insurance, on the other hand, are not subject to federal income tax. Symetra Complete is designed to serve both as an asset management and a wealth transfer vehicle. This enables clients to accumulate tax-deferred assets and still avoid leaving behind a heavy tax burden for their heirs.
If a client purchases a Symetra Complete policy at the beginning of the CRI cycle, the policy’s cash value will accumulate tax-deferred for 25 years and – with the life insurance death benefit – the client can pass more assets to their estate income tax free.
Flexible Retirement Options
"Retirement clients have a variety of needs, so we built our CRI Model with flexibility that advisors and agents could use to adapt to clients’ unique circumstances,” says Symetra’s Al Close, senior vice president, General Agency and Advisor Sales and Distribution. “Symetra Complete is an innovative product that fits seamlessly into the CRI Model to add a legacy component to your clients’ retirement income plan."
For more information, visit the Symetra Complete and CRI Model Web sites, or contact the Symetra Sales Center at invest@symetra.com or
1-800-706-0700.
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