MetLife Stresses The Importance of Reliable Income During Retirement

imageLast week at the MetLife UK  Symposium in New York, Bob Sollmann, senior vice-president for MetLife’s Retirement Strategies Group spoke about how he believes reaching out to the retirement community is more important than ever in the current marketplace.  He said, "Our focus is launching and navigating for people 50-plus, where they are three to five years away from retirement.” 

Sollmann added that reverse mortgages or in UK terms “equity release” could also be an option that the firm is looking to expand in.  "Equity release is something of a last resort in the US, but there will be increasing benefits there, in order to fill the gap." 

He also stressed that while investors are typically looking for the best return on their investment, retirement investors need to focus on creating a reliable stream of income.  "Our goal is to maximize the reliability of income. We also believe a combination of insurance and investment, is very powerful. For people who think they will continue to live, the opportunity to improve lifestyle with more income today and to protect yourself before running out of money, it is a very powerful idea.” 

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This goal of maximizing the reliability of income fits perfectly with MetLife’s purchase of EverBank Reverse earlier this year.  It’s expected that MetLife will use its reverse mortgage platform to compliment its insurance offerings.  While some might argue that using a reverse mortgage to fund investments is never a good idea, it does make sense for certain people.   

"The way we look at long-term care, if you are a rational investor you really should be investing for the future expenses. Having this kind of ‘back stop’ might encourage people to prepare for their retirement years."

Investing in retirement is essential, says MetLife

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  • As usual it is a few bad apples that make the barrel stink.
    Using the proceeds from a RV to fund an Immediate annuity and/or to provide for estate legacy/liquidity is the next best thing to sliced bread.
    However, my broker dealer had me sign off that I would never recommend an annuity or life insurance if the premiums were from “borrowed funds”. Another case of throwing the baby out with unreasonable regulations.
    By the way, you over 65 people are also considered addled mentally, when it comes to buying variable annuities; your application has to get an extra level of scrutiny.

  • Mr. Sollmann, said, “The way we look at long-term care, if you are a rational investor you really should be investing for the future expenses. Having this kind of ‘back stop’ might encourage people to prepare for their retirement years.” Duh. I wonder how much he and other insightful MetLife executives make. Hundreds of millions I’m sure.

    The government has determined then, that all seniors are “irrational” investors, and therefore need to be protected, often times to their own detriment.

    My question is, why is MetLife allowed to sell both, when others can’t? Again, in case you don’t think politics play a part…which group in Washington has one of the most powerful lobbyists?

  • Met life is conducting seminars for thier insurance agents and CPA where is the croos selling of insurance products?
    Long term care insurance not always the best thing. many case coverage is in adequate and not in many case in the seniors best interest. But so goes promise not to cross selling.

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