Is the Integrity Life Income Source Annuity Any Good?

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Our Integrity Life Income Source Annuity Review

The Integrity Life Income Source Annuity has become popular for individuals seeking reliable retirement income and financial security. With the ever-growing concern of not having enough money to support their retirement, many people are turning to this annuity offered by Integrity Life Insurance Company and National Integrity Life Insurance Company.

This single premium immediate annuity provides a guaranteed stream of lifetime income, giving individuals peace of mind and eliminating the worry of running out of money in retirement. It offers flexible retirement income options, allowing individuals to choose different payout frequencies and options that align with their unique financial goals and needs.

Furthermore, the annuity is backed by an issuer with high industry ratings, ensuring its strength and stability. This commitment to providing a reliable financial solution for retirement offers even more confidence to those considering the Integrity Life Income Source Annuity as their retirement income strategy.

While there are important factors to consider when evaluating any annuity, this annuity stands out as a potential solution that can provide individuals with the financial security they seek during their retirement years.

Integrity Life Income Source Annuity

What We Like

Integrity stands out due to its long-standing history and excellent ratings from top agencies. Founded in 1888, it has a strong financial foundation and is evidenced by high ratings from A.M. Best (A+), Fitch (AA), Moody’s (Aa3), and Standard & Poor’s (AA—). These ratings reflect the company’s solid financial foundation and reliability, making it a trustworthy choice for financial products.

What We Don’t Like

A key concern with Integrity’s offerings is their annuities that require retirees to relinquish control over their assets. These products often lack flexibility, offering minimal liquidity and not allowing for a lump sum death benefit. Additionally, these annuities do not earn interest, which can be a significant drawback for retirees seeking to maximize their financial returns in retirement.

Our Recommendations

For a more beneficial retirement financial plan, we recommend considering a fixed indexed annuity with a Guaranteed Lifetime Withdrawal Benefit (GLWB) and starting the income benefits immediately. GLWB annuities provide several advantages, including maintaining control over your assets, the potential to receive immediate lifetime income, and the option for increasing income to keep up with inflation. These products also offer the opportunity to earn interest, provide liquidity, and include a lump sum death benefit. This approach balances the need for financial security in retirement with the flexibility and control that retirees often desire.

Integrity Life Income Source Annuity Reviews

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Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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