Secure Income Now of Up to 9% per Year
Help clients generate MORE income from less
A Power Series Index Annuity with the Lifetime Income Choice® Max Income Option1 allows clients to:
- Earn 10% income credits every year until lifetime income begins
- Secure income now of up to 8% at age 65 (single life)—and up to 9% if income begins on or after age 75 (single life)2
This high initial withdrawal rate allows clients to use less money than a traditional “5% or 6% for life” strategy to generate the income they need in retirement.
Check out the difference the Max Income option can make in your client’s retirement income.
1 Lifetime Income Choice is a guaranteed living benefit (GLB) rider available at contract issue in select annuities for an annual fee of 1.10% of the Income Base. The Income Base is the amount on which lifetime income withdrawals are based. It is not a contract value and cannot be withdrawn partially or in a lump sum. There are two lifetime income options available with Lifetime Income Choice: Max Income and Level Income. The name Max Income does not imply that this option will provide more cumulative income than the Level Income Option.
2 The maximum amount clients can take out each year from the Max Income Option differs based on the number of individuals covered under the rider, their age at the time they begin taking lifetime income and whether or not contract value remains. The max 9.00% income is for ages 75+, single life; once the contract value is depleted, the withdrawal rate is 5% for life.