- Simplicity: The amount of the guaranteed lifetime income is based solely on the amount of premium, the customer’s age and how long they wait to start lifetime income benefits. Unlike other annuities on the market, there are no separate income account value or withdrawal percentages to calculate.
- A statement of benefits: The first of its kind in the annuity industry, the statement of benefits provides a straightforward explanation of the monthly dollar amount the customer will receive when he or she starts drawing guaranteed lifetime income, regardless of market fluctuations;
- Options: Two optional income riders increase flexibility for customers to decide the age at which they turn on the income stream. Customers can select either a fixed lifetime income benefit, or a slightly lower guarantee with the chance to participate in more market index upside potential;
- Extra peace of mind: The riders also offer a feature that triples the income payments in case the customer is admitted to a qualified care facility;
- Choice: Contracts are available with either 10- or 15-year withdrawal charge periods, both offering multiple interest-crediting strategies from which customers can choose.
Aviva’s TargetBenefit Annuities Offer Customers Greater Flexibility, Less Complexity In Preparing For Retirement Needs
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