INCOME
Create an income stream that can last a lifetime.
First, choose Single or Joint Life Withdrawals. Elect Single Life Withdrawals to receive income payments for the duration of your lifetime. Or, choose Joint Life Withdrawals to provide an income stream over the lifetimes of you and your spouse. Payments can be taken monthly, quarterly or annually. 10
When is it time to decide? Although you must choose your income rider accumulation option when you purchase your annuity, you don’t have to choose Lifetime Income Withdrawal options until you are ready to start taking income. Keep in mind, once you begin receiving income, you cannot change your elections.
Then, choose the income payment option that’s right for you.
Level Income — Predictable income you can’t outlive. Count on a “retirement paycheck” that remains the same and is guaranteed for life.
Earnings-Indexed Income — An opportunity to grow your lifetime income stream. This option gives you the opportunity to increase your income based on a percentage of the Interest Credits, if any, that are applied each year to your annuity’s Accumulated Value.
If you elect this option, you’ll begin with an income amount that’s lower than the Level Income option.
Inflation-Adjusted Income — The potential to grow your future purchasing power. 11 With this option, you have the potential to increase your income over time based upon movements in the most recently published CPI-U (Consumer Price Index-All Urban Consumers-not seasonally adjusted) inflation index. This may help increase your future purchasing power.
If you elect this option, you’ll begin with an income amount that’s lower than the Level Income option.
10 Lifetime Income Withdrawals may be reduced or may stop if you take Excess Withdrawals from your contract. If Excess Withdrawals, Withdrawal Charges, Premium Bonus Vesting Adjustment or Market Value Adjustments (MVAs) reduce the contract’s Accumulated Value to zero, your Lifetime Income Withdrawal Payments will stop and the rider will terminate. 11 Increases only applied on the contract anniversary for a maximum of 10% each year for up to 30 years or until your annuity’s Accumulated Value is reduced to zero, whichever occurs first.
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