Advisors are upset because a couple of big variable annuity carriers — Prudential and Jackson National — are suspending sales of, or deposits into, certain variable annuities, such as those
offering guaranteed living benefits.
«For a client who needs guaranteed retirement income, I might recommend using this product in combination with another annuity that provides
a guaranteed living benefit rider,» she added.
Elite Access Advisory is designed as an investment only variable annuity (IOVA) offering
no guaranteed living benefit options but focused instead on broadly diversified investment options.
Elite Access is designed as an investment only variable annuity (IOVA) offering
no guaranteed living benefit options but focused instead on broadly diversified investment options.
* Income for life can be achieved through annuitization at no additional cost, on products where offered, through
a guaranteed living benefit rider, available at contract issue for an annual fee.
Annuity contracts pay
a guaranteed living benefit in the form of a regular income stream.
While once upon a time there were few reasons to purchase a deferred annuity besides the preferential tax - deferral treatment, since the early 2000s annuities has been increasingly popular for
their guaranteed living benefit riders, along with enhanced death benefit, unique investment features (in the case of certain equity - indexed annuities), or outright superior fixed income yields (with some fixed annuities).