One of the leading providers of annuities, AIG Life & Retirement, recently announced a new protected lifetime income benefit. The new Lifetime Income Choice is available for The Power Series of Index Annuities exclusively through independent marketing organizations (IMOs), according to a BusinessWire press release. The benefit guarantees income growth while offering flexibility, including an option to receive more income earlier in retirement.
There will be two options available with the new benefit: Max Income and Level Income, allowing clients to match their income strategy to their unique needs. The Max Income strategy allows consumers to maximize income during the early years of retirement, when spending tends to be highest. On the contrary, the Level Income choice provides a consistent and steady income stream for life. For added protection against volatile markets, both choices guarantee annual income growth prior to lifetime income benefit activation.
“A key part of retirement planning is working with a financial professional to discuss what you want your future to look like and the income you’ll need to make that vision possible,” stated Senior Vice President, Distribution, Independent Annuities at AIG, Eric Taylor. “Everyone’s retirement story is different, so our new Lifetime Income Choice options let consumers select the income strategy that works best for them. We’re excited to partner with IMOs to bring consumers a more flexible income solution to help meet their diverse retirement needs and goals.”
The Power Series of Index Annuities were designed for accumulation and income in retirement. These retirement solutions offer secure lifetime income, the potential for tax-deferred growth and principal protection against market volatility. For more information about this product or other annuity products, visit our website, www.annuityfyi.com, or contact us at 1-866-223-2121 or firstname.lastname@example.org.
Written by Rachel Summit