Income Solutions® Frequently Asked Questions

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Frequently Asked Questions about Income Solutions^®

Frequently Asked Questions about Income Solutions^®

Who is Income Solutions^® available to?

Income Solutions^® is not available to the general public. It is available only to individuals whose record keepers/service providers, benefit consultants, corporate plan sponsors and advisors have partnered with Income Solutions^®.

What is institutional pricing?

Institutional pricing gives individuals a similar type of buying power that large organizations have. The Income Solutions® program was designed to take advantage of this cost effective pricing method to provide competitive pricing for individuals purchasing annuities.

What is a “Transitioning Investor?”

A “Transitioning Investor” is someone who is transitioning from using earned income for paying monthly living expenses to using their retirement savings as the primary source for paying their monthly living expenses. The primary goals of a “Transitioning Investor” are to maintain accumulated assets and supplement their income.

What types of immediate annuities are available through Income Solutions^®?

Click here to view the various types of immediate annuities available through Income Solutions^®

Can I purchase other types of annuities such as variable or deferred annuities through Income Solutions^®?

No. Income Solutions^® is designed for individuals nearing or in retirement who want or need to convert a portion of their retirement assets into a reliable stream of income shortly after making an annuity purchase. Immediate annuities provide income replacement for individuals in this situation. Variable and deferred annuities are designed for long-term savings and growth.

How can Income Solutions^® benefit me?

Customized Quotes – each quote requested through Income Solutions^® is customized based on your individual information and type of annuity.
Competitive Quote Process – each quote requested is submitted to a diverse group of participating insurance companies.
Top Quality Providers – each participating insurance company is a large, well-known provider in the institutional market.
Institutional Pricing – as an individual, you will benefit from having access to similar pricing that large institutional buyers are offered. Depending on the type of annuity and data provided, monthly income amounts for competitively bid, institutionally priced annuities are typically higher than the monthly income amount provided by retail priced annuities.
No Marketing Hype or Retail Products – the standardized format facilitates a comparative analysis, which may result in a higher monthly income payment.

How are quotes through Income Solutions^® different from other annuity websites?

Income Solutions^® is distinct from other annuity websites because it is one of the few programs, if not the only program, that gives individuals access to institutional pricing. Each annuity quote provided by the participating insurance companies is offered to individuals on a group or institutional price basis, due to the volume and buying power represented by all the large companies combined who utilize the Income Solutions^® program. This may result in an annuity with higher monthly income payments to the individual.

How do I evaluate the insurance companies providing quotes?

The Income Solutions^® website maintains standardized Insurance Company Profiles, which contain credit ratings, customer service telephone numbers as well as company information.
After you receive quote responses, you will be able to compare the difference in benefit payments offered from the insurance companies electing to supply a quote.

What does the Income Calculator show me?

The Income Calculator is a tool that can be used by individuals who want to model different annuity options offered. This calculator only provides estimates and actual quotes from insurance companies will be based on current market conditions and data received at the time the quote is requested.

10.

Do I need a medical exam to purchase an annuity through Income Solutions^®?

No. Purchase of an annuity through Income Solutions^® does not require medical certification.

11.

Can I select the insurance companies I want to receive quotes from?

You can view Income Solutions'^® participating insurance companies by visiting the Insurance Companies page of the website, but you can not select the insurance companies that you would or wouldn’t like to receive a quote from, or select any additional insurance companies. You will receive a quote from each participating insurance company that elects to supply a quote.

12.

Do I have to begin receiving monthly income payments immediately?

You are not required to begin receiving income payments immediately. Upon requesting a quote, you may choose the month you would like to begin receiving income payments, but an immediate annuity requires that income payments begin within 12 months after the date of purchase. The commencement date is the first day of the month you select.

13.

Who should I call if I have questions regarding quotes supplied by insurance companies?

If you have any questions about a specific quote, you should contact the specific insurance company that provided the quote. You will find direct customer service contact information on each participating insurance company under the Insurance Companies page of the Income Solutions^® website.

14.

Who do I contact if I need technical support?

If you need technical assistance, you may contact the Income Solutions^® support staff at 952-941-5351 or via email at

. Hueler Investment Services Inc./Income Solutions^® does not provide investment advice and is only able to answer questions related to site use or technical questions. Please contact your tax advisor, accountant or financial planner if you need any investment advice.