Blueprint Income Launches Fixed Annuity Marketplace

NEW YORK, Oct. 9, 2018 /PRNewswire/ -- Blueprint Income launched the industry's first end-to-end fixed annuity platform for consumers. Its unique solution allows clients to search for, compare and then purchase simple, multi-year guaranteed annuities digitally. The products, similar in many ways to bank-issued Certificates of Deposit (CDs), have historically not been offered directly to consumers in a simple and easy-to-understand format, nor has it been possible to purchase a fixed annuity online in minutes. These products offer a 5-year return that is more than 40 basis points above the top CD rate and 3.5x the national average for CDs, as of October 1, 2018, according to data from Bankrate and the FDIC.

"It's been so hard for consumers to access the annuity market. Historically, there's just been so much confusion about how products actually worked. That's why we've opted for only the simplest annuity products, initially offering just income annuities, and now fixed annuities as well. We also make it easy for consumers to have all the information directly in their hands so they can make their own informed decisions. Just like the rest of personal finance and retirement, we're seeing the Internet shift the balance of power towards the consumer in the annuity market," said Matt Carey, Co-Founder and CEO of Blueprint Income.

According to Lauren Minches, FSA, Blueprint Income's Vice President for Product Design, "While many insurers have invested in complex hybrid insurance/investment style products in recent years, we believe and are seeing that the market is heading in a fundamentally different direction — towards the simple products that use the annuity chassis (with its tax deferral advantages) to replace defined benefit pensions or compete with FDIC-insured CDs."

"Valuations in the stock market, no matter how you measure it, are at all time highs. I'm not naive enough to call the top, but we're seeing that many of those nearing retirement want to have at least a portion of their money earning a guarantee, whether that's a guaranteed return or guaranteed income," said Nimish Shukla, CFA and a co-founder.

Simple annuity products have been around a long time, but you had to have a local agent or a broker (or multiple if you want to get the best rate) to access them. Now, using a free digital platform, it's possible to understand, compare, and purchase simple fixed annuities, all without the pressure to buy.

The Company's existing clients have rated their experience 4.9 of 5 stars, based on the 3rd party website Feefo.

As of today, Blueprint Income distributes fixed annuity products for over 25 providers, including some of the largest and most well-known life insurance companies in the world. In the coming months, they plan to deepen some of those relationships with digital processing of annuity products and digital-only product offerings.

About Blueprint Income
Since launching in March 2018, Blueprint Income has been transforming the annuity market through its "simple annuities only" philosophy and its customer-centric user experience. The Company offers the Personal Pension (a subscription-based deferred income annuity), income annuities, and now fixed annuities. Over 1.2 million users this year have trusted Blueprint Income with leading education content, quote information, and purchase fulfillment. The Company has been featured in Bloomberg, Forbes, and CNN Money and quoted in Morningstar and the New York Times.

Guarantees subject to claims-paying ability of the insurer. Annuities are not FDIC insured. Withdrawals before the age of 59 ½ carry a 10% tax penalty in most instances. The information provided is not intended to be a recommendation to purchase an annuity. Blueprint Income, Inc. is a registered fixed annuity producer in New York, NY. Blueprint Income, Inc.'s fixed annuity producers are licensed in all 50 states and The District of Columbia. Withdrawal provisions of fixed annuity products vary. Please contact a Blueprint Income agent for more information. Read all product brochures and contracts carefully. To learn more, visit https://blueprintincome.com/fixed-annuities.

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SOURCE Blueprint Income

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