How it works
How the Freedom Income Plan works
With the MetLife Freedom Income Plan, clients don’t have to give up control of their retirement. With investment terms from as little as three years, the Freedom Income Plan allows clients to test drive their retirement. And, at the end of their chosen term, you will be able to reassess your clients' situation and help them to select a retirement solution which best suits their changing needs.
For clients not ready to make a lifetime annuity commitment, or for those not wanting the volatility and uncertainty that can come from a drawdown pension, the Freedom Income Plan could be the ideal solution.
1. A term to suit their needs
Clients can choose the term to suit their needs.
Terms run from as little as three years up to 25 years.
2. A known fixed income
Throughout their chosen term, clients can choose to receive a regular income, much like a regular pay cheque.
Income can be fixed or increase annually, up to 8.5% p.a.
3. A Guaranteed Maturity Amount
Clients receive a Guaranteed Maturity Amount at the end of their selected term. This figure is guaranteed and free from investment risk.
4. A chance to review
At the end of your client's selected term, you will be able to reassess their needs and help them select a retirement solution that best suits their changing needs and circumstances.
Income and Guaranteed Maturity Amount are linked, so the higher the income the lower the Guaranteed Maturity Amount and vice versa.
Both income and Guaranteed Maturity Amount are fixed and known at outset, meaning clients will know at outset the income they will receive throughout their term and what they will receive at the end of their term. Annuity rates available at the end of your clients term may be higher or lower than they are now, which may impact the income they receive.
How it compares
Whilst there are many options available to clients at retirement, we know that the majority of people opt for a fixed lifetime annuity, in fact 14 out of 15* retirees permanently annuitise each year, locking themselves in to a set income for life.
With the average retirement now spanning almost 23 years+, you want to make sure your clients are invested in a retirement solution that not only suits their needs today, but also their changing needs in the future.
The below provides a high level outline of how the key retirement solutions compare to the flexibility and choice offered by the MetLife Freedom Income Plan.
* Source: ABI 2011
+ Source: Pensions Policy Institute 2011
Toolkit
Product Literature
Sales Aids
- Freedom Income Plan - A Retirement Plan with Flexibility (155k)
- Freedom Income Plan - Adviser Guide (285k)
- Freedom Income Plan - How the FIP Works (206k)
- Freedom Income Plan - Freedom Clause Case Study (117k)
- Freedom Income Plan - Cost of options (114k)
- Freedom Income Plan - Modern at Retirement (127k)
- Freedom Income Plan - Retaining Control of your Retirement (411k)
- Freedom Income Plan - Test Driving Your Retirement (363k)
- Freedom Income Plan - Value of Death Benefits (116k)
- Freedom Income Plan - Why Waiting May Pay (152k)
- The Difference 5 Years Can Make (189k)
- Which MetLife Retirement Product? (113k)
- Which retirement option to consider (132k)
Presentations and Video
Press Release: MetLife Grows the Fixed Term Annuity Market with TOMAS
Funds: MetLife Launch a range of Innovative Managed Wealth Portfolios
U-GEN: MetLife Launch campaign for the Uncertain Generation
Webinar: View our 'Keeping Retirement Options Open' webinar
Retirement and Investments
For more information, please contact your local MetLife Sales Rep or the Sales Resource Centre on
0845 370 6040
Employee Benefits
For more information, please contact your local MetLife Employee Benefits Consultant or Customer Service on
0845 603 8899
