GLWB vs DIA Part 2

00:02:28 📊 Deferred income annuities (DIAs) focus on legacy planning, while guaranteed lifetime withdrawal benefits (GLWBs) prioritize maximum income.
00:04:06 💼 The GLWB provides less flexibility on income choices compared to DIAs, which allow customization of payout options and legacies.
00:05:15 ⚖️ DIAs require setting income start dates upfront, while GLWBs allow flexibility in this decision closer to the income start date.
00:07:07 💰 Most individuals seek to maximize their income; the choice between DIAs and GLWBs should align with personal financial goals.
00:09:10 🏦 DIAs and GLWBs offer different payout guarantees, which can impact overall legacy and income planning significantly.
00:12:07 📈 Choosing GLWBs can save initial capital that can grow over time, enhancing overall financial flexibility for clients.
00:13:28 🎓 It's crucial to educate yourself on the options and make confident decisions regarding income and legacy planning.