Blueprint Income, a Internet-based, direct-to-consumer annuity distributor, has agreed to collaborate with Pacific Life on the distribution of a multi-premium deferred income annuity for Generation X-ers and others who want “a predetermined amount of monthly income starting at a predetermined retirement date in the future,” according to a release this week.
The contract is called “Next,” and was designed by Pacific Life “to support the purchase of insurance products through digital platforms like Blueprint Income,” the release said. “With a minimum of $100 to get started, it takes minutes to get set up, and in most cases applications are approved instantly, with no paper applications and no phone calls.”
“We’ve heard a clear desire — especially among Generation X — to have the security of a pension that their parents relied on to achieve financial peace of mind,” said Blueprint Income co-founder and CEO Matt Carey, in a statement.
“Next by Pacific Life creates an opportunity for us to connect with the next generation of consumers who haven’t yet taken that first step toward guaranteed retirement income, in a fast, simplified manner,” said Pacific Life Executive Vice President and Chief Operating Officer Adrian Griggs, in a statement.
The Next Deferred Income Annuity is available in 20 states (Alabama, Arizona, Colorado, Connecticut, Delaware, Georgia, Indiana, Kansas, Kentucky, Louisiana, Maine, Michigan, Mississippi, Nebraska, Nevada, Ohio, South Dakota, Utah, West Virginia, and Wisconsin) and the District of Columbia. More states will be added over the coming months, the release said.
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