Your baby boomer clients and prospects have a lot on their minds. They’re concerned about having enough money to live on in retirement, rising medical and long-term care costs, and providing for the people they love. For many, the number one priority is having a guaranteed lifetime income stream to ensure that they do not outlive their retirement savings.

Their worries are well founded. Just 14 percent of workers say they are very confident they will have enough savings to retire comfortably, according to a 2012 Employee Benefits Research Institute (EBRI) survey. Sixty percent report that the total value of their household’s savings and investments, excluding their primary home and any defined benefit plans, is less than $25,000.

With many people on their own when it comes to making vitally important decisions, the need for skilled advisors is greater than ever. For some clients, an emerging option‑a single product designed to address multiple needs‑may be an excellent solution. A combination product allows clients (and their advisors) to customize an annuity, adding optional riders for enhanced death and extended care benefits. A multi-need product like this provides very competitive flexibility and security.

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