Annuities With Guaranteed Lifetime Income Riders

designed for investors seeking guaranteed retirement income, while retaining control of invested principal, and the ability to leave remaining funds to their beneficiaries upon death
riders guarantee that the contract owner can withdraw a specified amount from the contract each year for life, even if the contract value declines or is completely depleted
most annuities offer single or joint lifetime income riders
a fee is charged against the contract value each year for the lifetime income rider
guaranteed lifetime income riders may be offered on fixed, indexed, or variable deferred annuities
surrender charges and/or market value adjustments may apply to withdrawals for a specified number of years after contract issue
annuity contracts usually allow a portion of the contract value (typically 5%-10%) to be withdrawn each year, without surrender charges
annuities are issued by life insurance companies, and are not guaranteed by FDIC insurance. Annuity guaranteed values are backed by the claims-paying capacity of the issuing insurer (click here for links to information about insurer safety).
state insurance guarantee associations may provide protection in the event that an individual insurer is unable to fully honor their contractual obligations to an annuitant (click here for more information).
annuity contracts usually allow a portion of the contract value (typically 5%-10%) to be withdrawn each year, without surrender charges