How is the guaranteed lifetime income payout calculated? Let’s put this all together to show you how your guaranteed lifetime income amount is calculated. When you choose to start receiving your guaranteed income, the amount is calculated using these three factors: • the age at which you’d like to start receiving your guaranteed income, 1,2
Ready to activate your guaranteed lifetime income? You only have to make two decisions: 1. When you’d like to start receiving lifetime income. 2. If the lifetime income will be paid to just yourself, or to both yourself and your spouse.
• the amount your Withdrawal Base has grown to,
• and whether you elect to receive guaranteed income for yourself or for both yourself and your spouse.
Imagine this: Let’s continue Scott’s story. He had purchased Income 150+ FIA at
6.60% $150,000 Years x
$150,000 Years
At age 72 , Scott’s Withdrawal Base has grown to $150,000 and he’s decided to activate his guaranteed income. He elects to receive joint-lifetime income so that he and his spouse, Linda, will receive a paycheck for life. 1
Based on the lifetime withdrawal percentages
That means that even after Scott’s passing, Linda can keep receiving that same $9,900 every year for the rest of her life. 1 If they both should pass, Scott and Linda’s beneficiaries can receive
found on page 8 , Scott and Linda would receive 6.60% 2 of his $150,000 Withdrawal Base – or $9,900 – every year for life.
the remainder of the contract value, if any. 1
Guarantees provided are subject to the financial strength of the issuing insurance company; not guaranteed by any bank or the FDIC.
1 Assuming no excess withdrawals. Early withdrawal charges and Market Value Adjustments (MVA) may apply. Withdrawals may reduce any optional guaranteed amounts in an amount more than the amount of the withdrawal. 2 Lifetime Withdrawal Percentages e ective 05/20/2024. Rates are subject to change. Joint-life income is based on the younger age on the income start date.
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FIA1460-1
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