Income Lab Launches Head-to-Head Annuity Evaluation Tools
The new features integrate directly with the provider's existing suite of retirement planning functions.
Income Lab, a retirement income software provider, has launched new annuity modeling, comparison and stress-testing capabilities for advisors.
Advisors using Income Lab’s tools can now incorporate annuities into retirement income plans and give clients a comprehensive view of how lifetime income can affect their financial lives.
The offering is designed to provide financial advisors with tools to clearly illustrate how annuities work, according to the announcement. It also helps clients compare annuity options and evaluate how annuities affect how much clients can spend in retirement.
The new annuity analysis features integrate directly with Income Lab’s existing suite of retirement planning tools.
Another feature highlighted in the firm’s announcement is personalized retirement income scenario modeling that incorporates annuity income alongside other sources of retirement income, such as Social Security and investment portfolios.
The Income Lab platform can now also help advisors and clients evaluate different annuity options head-to-head to see which performs better in which environments.
Credit: Adobe Stock