11 Ways We’ve Created a Better Annuity and Annuity Buying Process
Published February 8, 2018
At Blueprint Income, we're working to make the annuity market a simpler and easier space to navigate. Each day we're focused on offering a better service and product that makes sense for you.
Blueprint Income chooses to act as a fiduciary, so if you can do better with another product or through another provider, we’ll let you know
We make it easier to understand and more than one million people used our resources last year
The process is easy and you can do it all digitally through us
It’s easy to say the annuity market is fragmented, opaque, or not serving the best interests of consumers. But how do you create a better annuity? At Blueprint Income, that’s what we’re focused on building every single day.
We think annuities have historically been hard to understand, hard to compare, and hard to buy. We think the minimums to buy in have been too high and the fees too opaque. Here’s how we’re building a better annuity.
We only provide the simplest annuities that provide a clear, contractual guarantee without bells and whistles.
A better annuity starts with simplicity. We only offer products that provide the strongest, simplest contractual guarantees: fixed annuities (multi-year guaranteed annuities) and income annuities (both immediate and longevity annuities). That means no market-linked indexed annuities or variable annuities. If it takes more than 10 seconds to explain what you’ll get from your premium, it’s not for us (and, in our opinion, it’s not for you).
We’re tailored to you.
Want to chat? Call and a licensed, knowledgeable will answer. Not someone halfway across the world. Not a bot. Someone like Nimish, Matt or Lauren.
We’ve lowered the minimums to purchase.
You can open an annuity on our platform with as little as $100. That’s a far cry from what it takes to open a policy through most other folks. Once the annuity has been opened, you have the ability (but not obligation) to make ongoing contributions on whatever schedule you’d like, subject to the limits of the specific insurer or insurers you choose. At a lower initial amount, it makes it easier to diversify across providers.
We make it easy to buy as a subscription — and those are small purchases that over time amount to real money.
In the past, buying an annuity has been a difficult decision — was now the right time with respect to interest rates to pull money out of the markets and put it into a guaranteed lifetime income annuity? By making it easy to start a subscription, we make the decision a lot easier — now you have the ability to keep contributing every month or every year across market environments. Think of our subscription like dollar cost averaging.
We only work with the best insurers.
All income annuities on the platform are from insurers with a financial strength rating of A or better from the rating service A.M. Best, and most are A+ or A++. For fixed annuities which have a shorter time horizon, we also show rates available from insurers rated B or higher.
There are no ongoing fees.
We’re transparent about commissions and fees. So we’ll tell you in plain English — you pay no upfront or ongoing fees. The income amount we quote for your initial purchase is the fully guaranteed (subject, of course, to the claims paying-ability of the insurer). We take a small commission from the insurer at the time you make a purchase.
We focus on low-cost annuities.
We focus on annuity products that pay the lowest commissions so that more value is available to our customers. We receive commissions of 1-5% paid to us once, so equivalent over the life of a product to 0.03-0.17% per year (assuming a 30 year life)!
Our technology is the best.
We’ve made it easy to do everything digitally. Online application? Check. Change an address? Or beneficiary? Or the amount of a future contribution? Check. Check. Check. Do it all digitally through us. And we’ll make the process a cinch. Forget everything you thought you knew about an old-school painful annuity process.
We choose to act as a fiduciary.
We aren’t commissioned agents and we don’t work with commissioned agents. If you can do better with another product or through another provider, we’ll let you know. We don’t take commissions into account at all when rank ordering your options. None of our agents work on commission. We evaluate our team based on customer satisfaction more than on revenue production.
We’ve made it easier to understand. We provide objective information.
The best annuities are so useful but finding them has historically been difficult and confusing. We’re sifting through the mess, picking only the good ones, and making it easy for you. Over 1 million people accessed our free content and tools last year. Who else in the industry can say that? Our belief is that objective information delivered via the web is better for you and better for us.
We don’t sell and we don’t call, unless you ask us to.
There’s nothing more annoying than a pushy sales pitch. Don’t worry, it’s not our thing.
How Can I Buy an Income Annuity?
At Blueprint Income, we offer income annuities from more than 15 top rated insurance companies. Click below to use our annuity calculator to get real-time personalized quotes, where you can compare options offered from different insurers on an apples-to-apples basis.
From there, you’ll get access to our annuity guides, team of specialists to help you analyze your retirement finances and walk you through the application process.
How Can I Buy a Fixed Annuity?
At Blueprint Income, we offer fixed annuities from more than 30 insurance companies. Click below to see the fixed annuity marketplace, which is updated daily. Filter and compare fixed annuities by insurer rating, term, state, and withdrawal allowance.
Matt Carey is the co-founder and CEO of Blueprint Income. He believes in the power of technology to make retirement simpler. Matt is a regular contributor to Forbes.com and has been quoted in both the New York Times and Morningstar.
You can retire easy and secure with a private pension (Personal Pension) because our Personal Pension is backed by a highly-rated insurance company that guarantees for every dollar you contribute, you will receive a certain amount of income every month starting when you retire.
A classic, good annuity is one that provides guaranteed income for as long as you live. It’s a way to diversify your portfolio, and make sure that your basic retirement expenses will be covered. But beware of market-based annuities that promise too much and don't deliver good value.