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Choice Income is a fixed index annuity that offers both upside potential and downside market protection. The Guaranteed Lifetime Withdrawal Benefit (GLWB) provides two options for building lifetime income, including a way to continue growing while in retirement, for an annual fee of 1.05%.
The Guaranteed Income Builder Benefit is a way to grow the Withdrawal Base by a guaranteed 8% roll-up, also known as Deferral Bonus, every year before income is taken.1,2
The Income Multiplier Benefit is a way to grow the Withdrawal Base by linking to the interest credited to the contract value.1 Before income is taken, 2X the amount of the interest credits the contract value earns is added to the Withdrawal Base. After income is taken, 1X the interest credit is added to the withdrawal base, during a bonus period.3,4
Choice Income also features the Income Enhancement Benefit.5 This built-in benefit provides your clients with double income, for up to five years6, if they face healthcare needs and are certified by a healthcare professional as being unable to perform at least two of the six Activities of Daily Living (ADLs).6 Once the income enhancement benefit ends, their income continues at the original guaranteed amount.
Income is provided through annual guaranteed lifetime withdrawal amounts, known as Lifetime Annual Payments (LAP). The LAP amount is based on age upon activation and whether single or joint life is elected. Choice Income offers joint income for spouses, for 0.50% less of the stated lifetime withdrawal percentage for single income.
One-Year Monthly Point-to-Point with Cap
One-Year Point-to-Point with Cap
One-Year Point-to-Point with Participation Rate
One-Year Point-to-Point with Performance Trigger
Two-Year Point-to-Point with Spread
One-Year Fixed Rate
Franklin US Index