Things are changing in the fixed indexed annuity world as companies work to make their products better. Security Benefit Corporation is allowing us to look into a crystal ball and see what changes are coming to the fixed indexed annuity industry. The Guggenheim Partners’ company issued a press release about their Foundations Annuity, “New Security Benefit Product Ushers in Future of Fixed Indexed Annuities.” The combination of choices and benefits offered with this product are one of a kind, so Security Benefit believes it is one of the best ways to provide continuous income to people in retirement.
Principal protection, guaranteed lifetime income, interest-crediting that is tied to the growth of the equity markets, and more liquidity than previously available with fixed indexed annuities are the main benefits. Security Benefit Life Insurance Company’s President says that using their new Foundations Annuity with a draw-down strategy could be one of the best ways to ensure a successful financing of your retirement. Many retirees have already lost a significant portion of their savings, so the time has never been more dire than now to protect the rest of their principal. They designed the Foundations Annuity to fix what element they see as missing in retirement strategies.
An intense study from a consulting firm found that the best way to get lifetime income was by using a fixed indexed annuity with guaranteed lifetime withdrawal benefits along with a traditional draw-down. A mutual fund draw-down strategy paired with a fixed indexed annuity with a GLWB was found to give the best chance of financing a secure retirement. The Foundations Annuity was designed to maximize retirees’ guaranteed income. Guaranteed principal, a 1% bonus on premium payments in the first year, and three different interest crediting strategies are part of the draw. They also offer a GLWB with great guaranteed payout rates, less complexity, and more transparency. Contact Security Benefit Life or one of our experts for more information on this new annuity product.
Written by Rachel Summit
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