Growing income for life. There’s more to retirement planning than accumulating wealth. It’s just as important to create a guaranteed, stable source of income to help cover the unexpected. With Synergy Choice TM Income, your retirement dreams are protected with guaranteed income for life – regardless of how the market performs. Understanding the rider’s three distinct phases can help you make the most of your annuity’s income potential. Let’s break it down Growth Each year, a simple interest roll-up rate of 12% is earned on the initial premium and added to the Benefit Base. The interest continues to accrue for 10 years, or until the rider is activated. During this phase, all withdrawals will reduce the Benefit Base and the annual simple interest credits by the same percentage as the annuity’s Contract Value reduces. Income This phase begins when you activate the rider by starting lifetime income withdrawals, which reduce your annuity’s Contract Value. Withdrawals in excess of the lifetime income withdrawal amount will reduce future lifetime income withdrawals and in some instances will terminate the rider.
Guaranteed Income, No Matter What If lifetime income withdrawals (and not an Excess Withdrawal) reduce your Contract Value to zero, you’ll continue to receive the lifetime income withdrawal amount for the rest of your life.
Made with FlippingBook - Share PDF online