We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. Learn more

Blueprint Income Annuities Review


ConsumersAdvocate.org Rating: 4.8 / 5 (Excellent)
Our content is free because we may earn a commission when you click or make a purchase using our site. Learn more.
Blueprint Income is an online marketplace that helps consumers design a income annuity or personal pension plan, and then connects them with insurance companies. Founded in 2014 originally under the name Abaris Income Inc, the New York-based company is led by fiduciaries who aim to help users compare quotes and design an annuity that best fits their needs.

How is Blueprint Income rated?

Breakdown

4.8/5
Policy Features
4.8/5
Fees and Commissions
4.8/5
Reputation and Financial Strength

Overall Rating: 4.8 / 5 (Excellent)

Blueprint Income is an annuity marketplace that works to connect consumers with a Personal Pension Plan or income annuity that best fits their needs. While Blueprint doesn’t underwrite the policies per se, its experts help guide customers through the complex world of annuities, helping them to build a customized plan then pairing them with a top-rated insurance company. Blueprint Income, which is operated by fiduciaries, states it only works with insurance companies that hold an A.M. Best rating of A or higher. Some of these companies include Mass Mutual, Pacific Life, Lincoln Financial Group, Mutual of Omaha, Protective, Minnesota Life, Principal Integrity, PennMutual, AIG, Symetra, Guardian, and American National. Blueprint specifically touts its Personal Pension Plan as an option for those who’d like to pay into an annuity in smaller, incremental amounts, much like a 401K, early on, while its income annuity quotes cater to those who are retiring sooner and would like their income stream to start immediately or in the near future. The Pension Plan is similar to a traditional income annuity and is a contract between the user and insurance company, which promises to pay the client for the rest of their life.

Blueprint Income Annuity Features

Policy Features - 4.8 / 5

Blueprint offers a user-friendly experience that allows clients to build their own custom Personal Pension Plan or receive a quote for an income annuity based on a series of questions, personal information, and individual need. The site does an excellent job of walking users through a step-by-step diagnostic for their Personal Pension Plans, asking questions such as the client's birth date, age they'd like to retire, if the plan is meant to support an individual or a couple, the amount of income they'd like to receive and other monetary sources factoring into their budget, before calculating just how much the client will need to pay toward the annuity each month.

Blueprint gives clients plenty of options when it comes to choosing a funding plan, and the ease of enrolling completely online with the help of a Blueprint Income Retirement Specialist. Another worth-noting feature is that clients can save the plan Blueprint helped to design for later, or share it with someone the client would like to review it (such as a partner or financial advisor) to make sure everything checks out. During the enrollment process, clients can choose to fund their Personal Pension through savings, checking, brokerage account, Traditional IRA, Roth IRA, or rollover 401k account.

For income annuities, the site asks similar questions such as when the client would like the income payments to start, how much they’d like the one-time premium for the annuity to be, or how much they’d like the monthly income to be. Then, users can “lock” a quote with one of the insurance companies provided. The site also lists current, up-to-date information on interest rates for several different types of annuity plans across several insurers, so clients can be sure they're getting the best rates.

Another helpful resource for those who are still murky on the ins and outs of annuities is the free, 100-page annuity decision guide Blueprint offers. Users can request the document via email which contains important information on the different types of annuities, provides examples, product specifications and buying tips in a digestible, reader-friendly format.
Annuity Type
Immediate
Deferred
Fixed-Deferred
Purchasing Options
Insurance Companies
Minimum Balance
The Personal Pension requires a $5,000 starting contribution.
Funding
Lump Sum
Series of Payments
Payment Frequency
Lifetime Payments
Withdrawal Options
Stream of Payments
Lump Sum

Survival Benefits

The Personal Pension comes with a “Refund at Death” feature. With this option, any money contributed to the annuity that hasn’t been paid to the client will be given to the client's beneficiary.

Blueprint Income Fees and Commissions

Fees and Commissions - 4.8 / 5

After a starting contribution of $5,000, those who choose a Personal Pension can make monthly contributions as low as $100. Blueprint has no upfront or ongoing fees for their Personal Pension Plan and states that all expenses are incurred by the insurance company, including the distribution fee paid to Blueprint for selling the plan to users. There are fees sometimes associated with annuities – such as the case with indexed annuities. These are not the products that Blueprint offers as the company solely sticks to income annuities.

It’s important to note, however, clients will not be able to withdraw money early, or surrender their annuity since the personal pension does not have a cash value. Once income payments begin, some insurance companies will offer some level of extra liquidity, which Blueprint says is typically in the form of accelerating, or speeding up, upcoming income payments. Clients will have to pay taxes on their Personal Plan, but what taxes they will pay on the income will depend on how the plan is funded. For instance, if it was funded as a Traditional IRA the income payments would be fully taxable at ordinary income rates. We recommend clients do a thorough search into the plan they choose and their insurance provider to fully understand what taxes or other fees they may be responsible for in the future.
Commission
Blueprint is paid 1-5 percent of the income annuities purchased in a client’s Personal Pension Plan. This is paid by the insurance company.
Surrender Charges
Surrendering or early withdraw is unavailable with personal pensions.

Blueprint Income Reputation and Financial Strength

Reputation and Financial Strength - 4.8 / 5

One major plus is that Blueprint Income’s expert advisors are fiduciaries, which means the company's representatives are legally and ethically bound to help clients make financial decisions that are in a client’s best interest. Blueprint is extremely transparent on how it makes money, which is typically 1-5 percent of the income annuities purchased in a client's Personal Pension. This is paid by the insurance company.

The company also holds itself to high-standards, only partnering with companies that hold an A or higher rating with A.M. Best. These ratings are displayed alongside the quotes provided by each insurance company for clients to look at before they make a choice. The company itself holds an A+ rating on the BBB and a 4.7 rating on their own site of 122 customer reviews. Their Facebook page boasts a 5 out of 5-star rating. It should be noted the company is fairly new, as it was originally founded as Abaris Financial Inc. in 2014 before changing its name to Blueprint Income, Inc. in 2017. There does not appear to be a profile on the Consumer Financial Protection board or Trustpilot.
Year Founded
2014
BBB Rating
A+
Contact Methods
Phone
Chat

Company Profile

Full Name
Blueprint Income Annuities
Company Website
Headquarters
85 Broad Street, New York City, NY, 10004

Leave a comment for Blueprint Income Annuities
Minimum 12 words.
 No maximum length.
* What's Your Rating?
To make this comment as helpful as possible for our community, please provide at least 2 sentences.

Top Rated
  • Marketplace service that compares top-rated insurers 
  • Fiduciary-led company 
  • No on-going fees
  • Offers Personal Pension Plans and income annuities 
  • User-friendly quote calculator
  • Helpful diagnostic tools and guides