RMD resource: Client fact-finder flyer

Three people meeting at a table

Required minimum distributions create a recurring opportunity for client contact courtesy of the tax code, and with enough notice, you could discuss an accumulation- or legacy-focused product that also can check the RMD box. This fact finder can be paired with the ABCs of RMDs brochure to help your clients determine their RMD needs and options.

When it comes to deciding how best to make use of the income the government requires clients draw from their retirement savings, everyone’s situation is different.

Called required minimum distributions, or RMDs, these mandatory payments can create unplanned taxable income. With a few pieces of information, you could discuss some options for your clients.

This fact-finding flyer helps to ask clients:

  1. How much do you know about your RMD obligations?
  2. When were you born (full birth date)? Your age is a key factor in when RMDs kick in and what percentage of your retirement savings you’ll need to take.
  3. Are you retired? If not, how many years until you plan to retire?
  4. What’s your estimated retirement savings total today?
  5. Where are your retirement savings held?
  6. Do you know if any of those retirement savings vehicles are set up to pay you regular income like a pension or an annuity?
  7. If you've reached RMD age, have you taken your RMD payment for this year?
RMD puzzle factfinder (27277Y)

Related Links

The ABCs of RMDs: Solving the RMD puzzle

Whether your clients are ready for retirement income or not, IRS rules require that they start drawing down their savings from certain types of accounts at a certain age — currently the year after they turn 70 1/2 or 72 years old, depending on when they were born. You can use this guide to help your clients solve the required minimum distribution puzzle.

Minimizing RMD impact, maximizing RMD opportunities

Required minimum distributions create a recurring opportunity for client contact courtesy of the tax code, and with enough notice, you could recommend an accumulation- or legacy-focused product that also can check the RMD box. Take a look through the RMD puzzle brochure to learn how you could potentially find new assets, getting your clients into a Midland National product.

 

Insurance products issued by Midland National® Life Insurance Company, West Des Moines, Iowa. Product and features/options may not be available in all states or appropriate for all clients. See product materials for further details, specific features/options, and limitations by product and state.

Fixed index annuities are not a direct investment in the stock market. They are long term insurance products with guarantees backed by the issuing company. They provide the potential for interest to be credited based in part on the performance of specific indices, without the risk of loss of premium due to market downturns or fluctuation. Although fixed index annuities guarantee no loss of premium due to market downturns, deductions from your accumulation value for additional optional benefit riders or strategy fees associated with allocations to enhanced crediting methods could exceed interest credited to the accumulation value, which would result in loss of premium. They may not be appropriate for all clients. Interest credits to a fixed index annuity will not mirror the actual performance of the relevant index.

33676Y     |     PRT 7-6-21