TOPEKA, Kan., July 1, 2013 (GLOBE NEWSWIRE) -- Security Benefit, a leading provider of retirement savings and income vehicles, announced the introduction of its "Retirement Income Optimization" modeling tool for iPads. The new application gives financial advisors on-the-go access to the powerful, easy-to-use retirement income modeling tool found on Security Benefit's "Retirement Income Challenge" website at www.retirementincomechallenge.com.
"This application is designed for advisors who are seeking smarter, more effective strategies for generating reliable income streams in retirement," said Doug Wolff, Security Benefit Life Insurance Company's President. "It translates extensive research on the effectiveness of various retirement income portfolio strategies into a modeling tool that reveals probability of success for a given allocation in four simple steps."
The app is the latest feature in Security Benefit's "Failure Is Not an Option" campaign, which addresses the urgent need of America's pre- and post-retirees to find viable solutions for generating sustainable retirement income at less cost and with less market risk. Central to the campaign is research conducted by a leading independent actuarial and consulting firm. The study analyzed the likelihood of sustaining a lifetime income that increases annually for inflation using a mutual fund spend down strategy and then combining that strategy with a Guaranteed Lifetime Withdrawal Benefit on either a variable annuity or a fixed indexed annuity.
"With this interactive income optimization app, we put the full study results at the advisor's disposal, anytime and anywhere," said Wolff. "Advisors can easily choose different product mixes and instantly display a full-color graph showing how the resulting portfolio compares to the efficient frontier defined by average assets at death and probability of success."
Other features of the "Failure Is Not an Option" campaign include papers, research reports and the previously mentioned "Retirement Income Challenge" website.
"We are committed to bringing fresh ideas and information like the 'Retirement Income Challenge' program, as well as innovative products, to financial advisors who focus on retirement planning," said Wolff. "And with Guggenheim Investments' superior general account management capabilities, we are uniquely well positioned to do so."
Advisors can download the Retirement Income Optimization app from the Apple App Store.
About Security Benefit Corporation
Founded in 1892, Security Benefit Corporation, a Guggenheim Partners Company, is a leading provider of savings and income solutions for America's pre- and post-retirees. Security Benefit Corporation targets multiple wealth segments and channels of distribution through an independent, merit-based distribution structure. By leveraging Guggenheim Investments' superior general account management capabilities into highly competitive products, Security Benefit Corporation focuses on the retirement savings market providing a full range of services to independent distributors including broker/dealers, IMOs, and other financial service providers. Security Benefit is indirectly controlled by Guggenheim Partners, LLC. To learn more about Security Benefit, visit www.securitybenefit.com.
Variable annuities are long-term investments suitable for retirement investing.
You should consider the investment objectives, risks, and charges and expenses of the mutual funds and investment options available under the Variable Annuity carefully before investing. You may obtain a prospectus that contains this and other information about the investment options or Variable Annuity by calling our Service Center at 1-800-888-2461. You should read the prospectus carefully before investing. Investing in mutual funds or variable annuities involves risk and there is no guarantee of investment results.
In all states except New York, annuities are issued by Security Benefit Life Insurance Company (SBL). SBL is not authorized in and does not transact insurance business in New York.
Services are offered through Security Distributors, Inc., a subsidiary of SBL which is wholly owned by Security Benefit Corporation ("Security Benefit").
*It is important to note that while taxes on amounts invested in a variable annuity are deferred until withdrawn, withdrawals are subject to ordinary income tax and, if made prior to age 59½, may be subject to a 10% IRS penalty tax. Conversely, earnings from investments that do not offer tax deferral are taxed currently, and withdrawals from such an investment are not subject to the penalty tax.
Source: Security Benefit