New Year, New Reminder -- Offer a Beneficiary Review Now

January 2, 2019
Offer a Beneficiary Review Now

The start of the year is an ideal time to connect with clients. A smart way to guide the conversation is by offering a beneficiary review. It’s a critical, value-added service you can provide to current and prospective deferred and immediate annuity clients.

A review ensures that client’s beneficiary designations match their wishes. A review may also lead to new deferred and immediate annuity sales opportunities.

For the Client

How does a beneficiary annuity review help clients? It helps them make sure their death benefits will be distributed according to their wishes. Often, a clients’ financial priorities change but they forget to update their beneficiary designations. Help your clients answer these questions:

  • Are the correct beneficiaries listed? Update the primary beneficiary, if necessary, such as after a change in marital status.
  • Has the client named contingent beneficiaries? These act as backups if the primary beneficiary is unable to collect the benefits or predeceases them.
  • Would clients like to help their beneficiaries avoid a large, one-time tax burden their deaths?

For the Producer

A thorough beneficiary review is a value-added service you can offer to your client. It can pinpoint other needs and possibly lead to a new sale. Lead the discussion by asking questions such as:

  • Are your current deferred annuity products meeting your financial needs?
  • Do your current annuity products allow you to set how proceeds will be distributed to the beneficiary (for example, through a restrictive endorsement)?
  • Has your deferred annuity account value changed substantially? Should we discuss more optimal options for taxation and disposition of death benefits?
  • Are you worried about the tax burden and financial responsibilities that a lump-sum distribution of proceeds would place on a beneficiary?
  • Do you have other friends or family members who would benefit from a deferred annuity beneficiary review?

Asking the right questions and setting up solid financial plans arm you as a valuable resource. Your actions now can also open you up to sales opportunities down the road.

Sales and Marketing Toolkit

Download these flyers and customize on your own desktop.

Sales Concept Flyer

The Importance of Beneficiary Review

(Fillable PDF)
Companion Flyer

Connecting With Generation X

(Fillable PDF)


Annuities are not (a) insured by the FDIC or any federal government agency, (b) deposits of or guaranteed by any bank or credit union and (c) a provision or condition of any bank or credit union activity. Some annuities are subject to investment risk and may lose value. A surrender charge may apply during the surrender period, and a 10% penalty may apply to withdrawals prior to age 59½.


Sales Ideas