The Nitrogen growth platform has thousands of income products making it incredibly easy for advisors to show clients how annuity and insurance products can help reduce the risk in a portfolio. The steps below will highlight how to add annuity products to a portfolio and set income scenarios.
In this article:
Create an Annuity Account
First, navigate to the desired Client Portfolio and click Add Account. Then choose Annuity/Insurance as the account type.
Select the Company, Product, and desired Subaccounts. Choose specific subaccounts to include by toggling them on/off in the list.
Pro Tip: If the desired annuity cannot be found, select Enter Custom to manually enter Company and Product information.
Next, you’ll want to choose how to reflect the risk for this account. You have two options: Use Income Rider, or Reflect Subaccount / Index Risk.
Use Income Rider - the 'market risk' of the policy is on the shoulders of the insurance company.
Reflect Subaccount / Index Risk - With this selection, the 'market risk' of the policy is on the shoulders of the investor, via the cash value of the subaccounts.
Enter any additional details about the annuity contract. "Optional Fees" exposes additional configuration options such as income riders and death benefits.
Lastly, you’ll need to select how to allocate the subaccounts. You can skip this step if you are entering a custom annuity.
Success! You have just added an annuity to a client portfolio.
Annuity Settings
Once an annuity has been added to the client portfolio, the risk model and other settings can be updated as needed. Open Settings from the top right-hand side of the account to toggle between Income Stream and Subaccount Risk modeling options, modify contract details, or add supplemental rider information.