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Guaranteed lifetime withdrawal benefitSummaryIn this 1:03 Annuities Explained YouTube Short, Jeffrey Scott McLeod, LUTC, covers “Guaranteed lifetime withdrawal benefit.” Some fixed annuities, especially fixed index annuities, offer a guaranteed living benefits writer, usually at an extra cost. A common type is called a guaranteed lifetime withdrawal benefit that guarantees to make income payments you can't outlive. While you get the payments, money still in your annuity continues to earn interest. That's what a guaranteed lifetime withdrawal benefit rider is Insurance education only—not securities advice. Key takeaways
From the NAIC Buyer’s GuideFixed indexed annuities are a type of fixed annuity that earn interest based on changes in a market index; the interest rate is guaranteed never to be less than zero, even if the market goes down. When you buy an indexed annuity, you are not investing directly in the market or the index. When you start income, annuity payout options can include payments for life, for a period certain, or combinations described in the contract. The 2022 guide lists payout options and questions to ask before you buy. The 2022 NAIC Buyer’s Guide for Deferred Annuities explains that an annuity is a contract with an insurance company. With an annuity, the insurer promises to pay income on a regular basis for a period you choose—including the rest of your life. Source: NAIC Buyer’s Guide for Deferred Annuities (2022). The guide does not endorse any company or policy. For your state insurance department, see www.naic.org. Questions about fixed index annuities? Call or text 501-658-9882 · Book a time on the calendar Insurance-only disclaimer Jeffrey Scott McLeod, LUTC, is a licensed insurance producer. Content on this page is educational and discusses insurance products only—not securities, brokerage, or investment advisory services. Texas license 901162. Arkansas / National Producer Number 558629. Product availability, rates, and features vary by state and insurer. Read the NAIC Buyer’s Guide and the insurance contract before you buy. More videos |
Jeffrey Scott McLeod, LUTC — Licensed insurance producer. Texas license 901162. Arkansas / National Producer Number 558629. Insurance products only; not securities or investment advisory services.
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