New twists on living benefits.Insurers continue to innovate the living-benefits features of their annuities. Among recent developments is Guaranteed Return Plus, a rider that combines exchange-traded funds with a guaranteed minimum accumulation benefit. It is available with AnnuiChoice and Pinnacle variable annuities Variable annuities Investment contracts whose issuer pays a periodic amount linked to the investment performance of an underlying portfolio. issued by Integrity Life Insurance Co. Axa Equitable Life Equitable Life may refer to:
An insurance contract in which, at the end of the accumulation stage, the insurance company guarantees a minimum payment. The remaining income payments can vary depending on the performance of the managed portfolio. to its Accumulator A hardware register used to hold the results or partial results of arithmetic and logical operations. (processor) accumulator - In a central processing unit, a register in which intermediate results are stored. Series by adding a guaranteed withdrawal benefit for life to the product line's traditional guaranteed minimum income Guaranteed minimum income is a proposed system of income redistribution that would provide eligible citizens with a certain sum of money (independent of whether they work or not), also known as "Basic Income Guarantee (BIG)", "universal basic income", "citizen's income scheme", benefit, The withdrawal benefit begins at 4% to 7% of the benefit base, and the base grows in the 10-year period before withdrawals at no less than 5% a year. The income-benefit base grows at no less than 6% annually up to age 85. The two benefits may not be combined. Earlier this summer, MetLife Inc. introduced a lifetime withdrawal guarantee rider for most of the new variable annuities it sells. Withdrawals at age 59 or later can be up to 5% of the benefit base. |
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