Starting May 22, 2012, new AGI contracts will offer more flexibility with regards to lifetime withdrawal amounts, depending on the annuitant's age.
Flexible lifetime withdrawals
Many investors are looking for more flexibility as to when they can start receiving their lifetime withdrawal amount (LWA). They will now have the option of either obtaining their LWA payments before age 65 by lowering the percentage of their annual income, or receiving higher LWA payments at a later date. The minimum age of the annuitant upon the first LWA payment is fixed at 55, and there is no maximum age.
Certain modifications to the percentage of lifetime income and guarantee fees have been made. The purpose of these changes is to offer a viable product that remains competitive, satisfies the investment needs of clients and ensures them an income for life. The rest of the winning features of our ASTRA Guaranteed Income contracts will continue to apply, including the guarantee upon death, automatic resets every three years, and the 5% bonus.
We are confident that ASTRA Guaranteed Income is an extremely interesting option for many investors who are looking for security and a stable income. For more information, please contact your financial security advisor.
ASTRA Guaranteed Income 2.1 Investor's Guide
ASTRA Guaranteed Income 2.1 Flyer