Axa Equitable Variable Annuity With Living Benefit Rate Rises
Following up on yesterday’s post on Matt Ackermann’s article, Axa Equitable (the third largest provider of variable annuities) is an example of the rise in variable annuity rates and simultaneous decrease in their benefits.
Last month, Axa’s variable annuity product with a living benefit has had its roll-up, which is its guaranteed minimum rate of return, reduced to by 1 percent to 5%. Meanwhile, fees were increased to 85 basis points (a 5-point rise). This is after another adjustment in November that saw fees increase by 20 basis points with a 0.5% decrease in its roll-up.
Always remember to compare annuity rates when looking to invest!
