Recommendation please - 400k in Life Indexed Annuity

[scagnt83]

Yes we used investors heritage with an income rider with a withdrawal method that would net her 30 k per year guaranteed for life

You should be aware that your E&O may or may not cover a B rated carrier.

When dealing with large sums of a persons life savings, ratings matter on both sides of the table.

Food for thought for future cases.

 

[Allen Trent]

Yes we used investors heritage with an income rider with a withdrawal method that would net her 30 k per year guaranteed for life

sounds a bit too good to be true in todays marketplace, I would have to see it to believe it. at her young age of 60, getting 7.5% lifetime income rider seems quite high. But if true & only costing her $5000 per year to add the rider, it might be worth it if the situation matches her needs.

Variable Annuity companies with lifetime income riders with quite a bit lower guarantee have been buying clients out of their contracts because the income guarantee was too rich for todays marketplace. I believe many of those were in the 5-6% range