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AuguStar Retirement Expands Annuity Offerings

AuguStar Retirement recently introduced its innovative StarStream® Variable Annuity, a new solution aimed at improving retirement income planning for clients with diverse goals and timelines. This strategic move showcases AuguStar’s commitment to being a long-term partner in retirement and income planning, catering to both clients and financial professionals alike.

A Flexible Solution for Retirement Planning

Cliff Jack, the president and CEO of AuguStar Retirement, emphasized the importance of this new product in fostering meaningful and sustainable financial planning. StarStream is tailored to help clients navigate their retirement journey confidently, offering various options to manage income efficiently. The range of multiple income-based approaches within a single framework allows clients to tailor solutions according to their specific needs—be it for predictable income, legacy planning, or optimal income timing.

“StarStream represents our commitment to providing financial professionals with innovative tools and resources,” noted Marc Socol, Chief Revenue Officer. “By offering varied income designs in one consolidated structure, we aim to enhance flexibility for our clients while streamlining the planning process.”

Four Unique Income Plans

The StarStream Variable Annuity features four distinct income options designed to meet different retirement objectives. These income benefits are provided on a single platform, enabling financial professionals to select the most suitable living benefit at the time of issue:

1. Level: This option provides a consistent and predictable income throughout the client's lifetime.
2. Protector: This combines steady lifetime income with an enhanced death benefit, supporting clients’ legacy goals.
3. Boost: This feature allows for higher withdrawals during the early years of retirement, tapering back as time progresses.
4. Daily: By 'looking back' to capture daily market gains, this option offers a potentially greater benefit base for clients.

These options offer a flexible and adaptable approach, allowing advisors to effectively navigate various client scenarios without the need to switch platforms or contracts.

Enhancing Client Confidence

StarStream is designed to support both short- and long-term income strategies, with options for increasing future withdrawal rates through income deferral. The product provides access to a diverse investment lineup, comprising equity, fixed income, and protected accounts, which can be tailored based on the client's chosen strategies.

This innovative retirement solution is part of AuguStar’s broader range of annuities aimed at fostering consultative planning discussions while enhancing efficiency in implementation.

Financial professionals interested in exploring how StarStream can accommodate various client needs can visit AuguStar Financial for additional information.

About AuguStar Retirement

AuguStar Retirement specializes in marketing a variety of annuity products, including variable, fixed index, and multi-year guaranteed options, distributed through various channels such as banks, brokers, and insurance professionals. As part of the Constellation family of businesses, AuguStar operates alongside entities like AuguStar Life and Constellation Investments. The investment prowess of Constellation is supported by partners such as CDPQ and Ontario Teachers', renowned for managing a colossal asset portfolio across North America.

In summary, the unveiling of the StarStream Variable Annuity marks a significant advancement in AuguStar Retirement’s commitment to providing innovative solutions for retirement planning while solidifying its reputation as a leader in the annuity space.