- Flexible, guaranteed lifetime income withdrawals with extremely competitive payout tables
- Withdrawal Payments are available monthly, quarterly, semi-annually, or annually and can be stopped and resumed again
- Before the income payments start, during years 6 through 10 of the contract, the client may elect to “restart” a new 10-year period, this extends the accumulation of interest period and allows further growth of the income base
- Spousal continuation and joined accounts for couples are offered
- The guaranteed minimum fixed interest rate offered at the contract issue, usually between 1% and 3% for the life of the annuity contract
- Income withdrawals are available for ages 50 and above
- Rider charge is 0.95% of the income base total annually
- Fixed interest rate on the account is subject to change annually
- Once lifetime income payments begin, the accumulation of interest ends
- Market Value Adjustment (MVA) is applied to all annual withdrawals in excess of the penalty free withdrawal before payments start and in excess of guaranteed withdrawal payment amount after that
- On a full surrender, the minimum guaranteed surrender value of 87.5% rule will be applied to the premium (including accumulated interest)
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