ILLUSTRATION: See New Rates in Action
Take a look at this IncomeShield 10 illustration to see how our new crediting rates can impact contract value growth. Using our option 1 no-fee Lifetime Income Benefit Rider (4% compound roll-up for up to 15 years), not only is there improved opportunity for growth, but clients may even be able to receive increased guaranteed income after they start payments1 and leave more money for their beneficiaries!
1 If your contract value on any contract anniversary exceeds your IAV, we will increase your IAV to equal your contract value. We will then use the initial payout percentage to determine the new LIBR payment amount, and if the resulting amount is higher than the current income payment, your LIBR payment will be increased. The annual lifetime income benefit will decrease if you withdraw more than your annual Lifetime Income Benefit in any year. Income Account Value is only used to calculate Lifetime Income. It is not part of the underlying Contract Value, or available in a lump sum.