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A New Strategy to Generate Lifetime Income

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Despite more than a half century of research detailing the potential value of guaranteed lifetime income products for retirees, sales of annuities remain low.  There is a new annuity gaining traction in the marketplace where the lifetime income evolves based on account performance where the account value is accessible, an approach we call a “Protected Lifetime Income Strategy.” This presentation contrasts this particular structure against other annuities focused on lifetime income and provides context for which types of retirees the respective solutions are likely to work best.

Why annuities should be considered as part of a retirement income plan
The payout mechanics for single premium immediate annuities (SPIAs), deferred income annuities (DIAs), annuities with a Guaranteed Living Withdrawal Benefit (GLWB), and Protected Lifetime Income Strategies (PLISs)
Why utility is a better metric to estimate optimal retirement strategies versus the probability of success

David Blanchett, Phd, CLU, ChFC®, CFP®, CFA®

Head of Retirement Research, Morningstar Investment Management, LLC

David M. Blanchett, PhD, CFA, CFP® is head of retirement research for Morningstar Investment Management LLC. In this role, he helps develop and maintain methodologies relating to wealth forecasting, general financial planning, automated investment selection, and portfolio assignment for Morningstar Investment Management LLC. He has published over 100 papers in a variety of industry and academic journals that have received a number of awards. He is currently an Expert Panelist for the Wall Street Journal, an Adjunct professor of Wealth Management at The American College, and a member of the ERISA Advisory Council.

Michael Visconti, CFP®

Regional Vice President

Prudential Annuities

Michael Visconti is a regional vice president for the advisor channel at Prudential Annuities. He covers Fairfield County in Connecticut, Westchester County, Hudson Valley, Greater NYC and Long Island territories. 

Mike has been with Prudential Annuities since 1997.  Prior to becoming a wholesaler, Mike worked as an internal wholesaler, a regional sales manager and most recently as director of internal sales. During his time at Prudential Annuities, Mike has consistently been recognized for exceptional performance and in 2015 and 2017, he received the Wholesaler of the Year award.

Mike holds FINRA Series 7, 26, 66, and Life & Health licenses. He also obtained his Certified Financial Planner (CFP®) designation in 2013. He graduated with a bachelor’s degree in finance and risk management/insurance from the University of Connecticut and an MBA from Fairfield University. 

He resides in Fairfield, Connecticut with his wife Heather and two sons Michael and Thomas. 

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A New Strategy to Generate Lifetime Income
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Open to view video. Despite more than a half century of research detailing the potential value of guaranteed lifetime income products for retirees, sales of annuities remain low. There is a new annuity gaining traction in the marketplace where the lifetime income evolves based on account performance where the account value is accessible, an approach we call a “Protected Lifetime Income Strategy.” This presentation contrasts this particular structure against other annuities focused on lifetime income and provides context for which types of retirees the respective solutions are likely to work best.
Exam
5 Questions  |  2 attempts  |  4/5 points to pass
5 Questions  |  2 attempts  |  4/5 points to pass
Course Evaluation
7 Questions
Certificate of Completion
1.0 CFP CE credit  |  Certificate available
1.0 CFP CE credit  |  Certificate available