Printer Friendly

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 issued by Integrity Life Insurance Co.

Axa Equitable Life Insurance Co. has added a new variable annuity to its Accumulator Series by adding a guaranteed withdrawal benefit for life to the product line's traditional guaranteed minimum income 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.
COPYRIGHT 2006 A.M. Best Company, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:introduced a lifetime withdrawal guarantee rider
Author:Panko, Ron
Publication:Best's Review
Article Type:Brief article
Date:Nov 1, 2006
Words:161
Previous Article:John Hancock Financial.
Next Article:Indexed UL product uses global indices.
Topics:


Related Articles
New York Life Gets OK to Market Life, Long-Term-Care Product in California.
Clarica's New UL Policies Offer Unique Benefits.
Money-back guarantee: variable-annuity writers have rejuvenated their products by protecting buyers from the dark side of the markets.
Prudential Annuities.
Living benefits are preferred.
Lifetime withdrawals.
EIA guaranteed lifetime withdrawals.
No-lapse ULs hit the market.
New options in annuities.

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters