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Customized Retirement Income Model (CRI)

This scenario includes:

Step 1. Determine case elements

  1. What are the client's goals and concerns?
  2. What is the total amount of the nest egg?

Step 2. Illustrate the Model

  1. Access the CRI online illustration tool at https://symetra.crim.wealth2k.com/.
  2. Solve for available assets or use the illustrator to calculate needed assets by solving for monthly income needed.
  3. Enter other required information as noted by the "*" next to each field.
  4. Hit the "Continue" button at the bottom of the screen to see the model summary.
  5. Hit the "Finish" button at the bottom of the screen to generate a copy of the illustration.
  6. Click on "View your illustration" to open the .pdf file.
  7. Note the Monthly Income for Year 25 on the second page of the model illustration; this is the guaranteed monthly income number you will quote for "longevity insurance."

Step 3. Define the "Longevity Insurance"

  1. Determing your "longevity insurance" product solution by checking the state availability  of the products.
  2. Access the Symetra Freedom Income Annuity quote tool at
    https://financial.symetra.com/FreedomIncome/FreedomIncomeQuote.asp.
  3. Solve for Monthly Income Year 25 number noted from the CRI illustration.
  4. Defer payment start date for 25 years.
  5. Enter other required information.
  6. Print the quote for your client.
  7. Print the partially completed application.

Step 4. Re-Illustrate the Model

  1. Reduce the original asset pool by the cost of the "longevity insurance" in Step 2.
  2. Access the CRI online illustration tool at https://symetra.crim.wealth2k.com/.
  3. Solve for recalculated available assets.
  4. Enter other required information.
  5. Hit the "Continue" button at the bottom of the screen to see the model summary.
  6. Hit the "Finish" button at the bottom of the screen to generate a copy of the illustration.
  7. Click on the "view your illustration" link to open the .pdf file.
  8. Print out this updated CRI Model illustration for your client.

Step 5. Fund Segments 1 and 2 For Immediate Guaranteed Income

  1. Access the Symetra Income Builder Annuity quote tool at https://financial.symetra.com/IncomeBuilder/default.aspx.
  2. Solve for the assets allocated to Segments 1 and 2 of the CRI Model.
  3. Enter other required information.
  4. Print the Symetra Income Builder Annuity quote and partially completed application for your client.

Step 6. Fund Segments 3, 4 and 5 For Asset Growth

  1. Access the Symetra Focus Variable Annuity application from our E-apps and Forms site at http://www.symetra.com/lifeelecforms/.
  2. Select the "Application - Focus Variable Annuity" form (begins with RSA003).
  3. To then allocate those total assets into the three distinct segments, and create three contracts that can be tracked over time, select the "CRI Model Invesment Election Form" (begins with RIND0049), print it out and complete it as part of the application.
  4. SIS has prepared proposed asset allocation models for each of these segments using the Focus investment options.

Step 7. Fund Segment 6 to Create A Legacy

  1. Access the Symetra Complete Variable Life application tool at https://financial.symetra.com/complete/scapply01.asp
  2. Prepare the application using 6% of the total assets. The dollar amount is calculated in the "Starting Values" line in bold on page 2 of the CRI Model illustration.
  3. SIS has prepared proposed asset allocation models for this segment using the Complete investment options.

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