Sequence Risk
Why the first five years matter
Explore →Research and education
Evidence Should Clarify the Decision
We translate independent research, tax rules, and planning methods into plain English—while keeping assumptions and limitations visible.
EY 2025 modeled findings
What integration changed under the study’s assumptions
EY modeled investment-only plans against plans that integrated investments and insurance products. The results below are plan-level outputs, not product returns.
| Household | Investment only | 30% FIA plus investments | Modeled difference |
|---|---|---|---|
| Age 35 couple | $128,430 | $157,764 | 22.8% |
| Age 45 couple | $94,687 | $110,020 | 16.2% |
| Age 65 couple with Social Security | $68,779 | $72,079 | 4.8% |
At equal modeled income—age 45
Probability of success: 90.0% → 94.9%. Median legacy: $5.125M → $6.347M.
At equal modeled income—age 65
Probability of success: 90.0% → 95.5%. Median legacy: $832,000 → $1.045M.
Source: Ernst & Young, “Holistic Planning: Integrating Insurance Products for Better Outcomes in Retirement,” 2025. These are model results under EY’s assumptions, not FIA returns, projections, guarantees, or an endorsement. BlackRock findings are discussed only with their combined delayed Social Security and allocation assumptions.