Level Income option With the Level Income option, you start with a higher income amount than the rising income option and are guaranteed that specific income amount for life.
Level Income option example
Meet Kathy Female, age 60 Retirement age 65 Purchase payment: $100,000 Kathy purchases a Protective Income Builder indexed annuity with the guaranteed income benefit at age 60, and her benefit base grows to $150,000 after five years.
$150,000
At age 65, Kathy is ready to start taking income. She chooses the level income option on a single life basis.
$120,000
$100,000
60
61
62
63
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65
Age
Benefit base $ 150,000
Withdrawal percentage 6.45 %
Annual payment $ 9,675
=
x
The bottom line: With the choice of this income option, Kathy can expect to receive an annual payment of $9,675 for life . Example assumes income is based on a single life basis and no excess withdrawals are taken.
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