Defined Benefit Partners (DBP) Services & Capabilities
- Individual Defined Benefit Plans These are plans that are tailored to the needs of individual business owners or self-employed individuals. DBP will work with you to create a plan that fits your unique situation.
- Group Defined Benefit Plans These plans are designed for businesses with employees. The insurance salesman can help design a plan that fits the needs of the company and its employees.
- Annuities Annuities can be a significant part of a Defined Benefit Plan. They can provide a steady income in retirement. We offer various types of annuities, such as fixed, variable, or indexed annuities, based on the need of the client.
- Investment Management We also provide investment management services. This involves managing the investments within the Defined Benefit Plan to ensure it meets its obligations.
- Risk Management Defined Benefit Partners monitors and manages the risks associated with the Defined Benefit Plan, such as investment risk, interest rate risk, and longevity risk.
- Pension Maximization This strategy involves taking a lower pension amount and using the difference to purchase a life insurance policy. The goal is to increase the overall benefit to the retiree and their family.
- Education and Consultation This is an important part of the job. We educate clients about the benefits and potential drawbacks of different options, helps them understand how their plan works, and provide ongoing advice and consultation.
Remember, while these capabilities and products are common, not every Defined Benefit Plan provider will offer the exact same services. When choosing a provider, it’s important to understand their specific offerings and ensure they align with your needs. It’s always a good idea to speak with a financial advisor to help navigate these decisions.