Abaris Financial, Inc. (www.myabaris.com) has launched a direct-to-consumer online platform for Qualified Longevity Annuity Contracts (“QLACs”) to make it easier for Americans to compare and purchase guaranteed lifetime income. Abaris is the first provider of a real time online quoting tool for the QLAC product built for consumers. Educational material, real time quotes, comparisons and a seamless purchasing process are now available for consumers interested in learning about and purchasing a QLAC.
U.S. Treasury Department regulations that were announced one year ago today allow consumers to purchase longevity insurance within qualified accounts like IRAs and 401(k)s. In addition to the guaranteed lifetime income provided by these products, consumers can defer a portion of the Required Minimum Distribution, which is mandatory beginning at age 70 ½, to as late as age 85.
“The Treasury’s announcement on July 1, 2014 is the strongest signal yet that policymakers believe longevity annuities can be an important tool in helping consumers address the very real challenge of outliving their money. Abaris is the only online destination that allows consumers to receive real time QLAC quotes in under 2 minutes and execute a seamless purchasing process. We’ve made a very complicated process simple,” says Abaris Financial CEO Matthew Carey.
In addition to its online tool, the Company has also created a guide to the QLAC product that can be downloaded at www.myabaris.com/qlac-guide. The Company is appointed to distribute QLACs from five insurance carriers, providing consumers the most comprehensive view of the market.
About Abaris Financial, Inc.
Abaris Financial was founded at the Wharton School by Matthew Carey, Adam Colombo and Nimish Shukla. The team brings prior experience from the U.S. Department of Treasury, Lazard, BlackRock, PayPal and Stifel Nicolaus. The Company’s fixed annuity producers are licensed in all 50 states and the District of Columbia.
Abaris Financial, Inc. is a fixed annuity producer based in Philadelphia, Pennsylvania. Abaris Financial, Inc.’s licensed fixed annuity producers are licensed in 50 states and the District of Columbia. Nothing herein constitutes an offering or solicitation to sell securities, nor does it constitute financial or tax advice.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150701006133/en/
Contacts:
Nimish Shukla, 571-228-7478
