Guaranteed income for life
How we calculate your lifetime payments
Lifetime payment amounts Your lifetime payment amount is determined by three factors:
The MNL Income Planning Annuity is designed to provide guaranteed lifetime income through the embedded GLWB rider. This feature ultimately guarantees that a specified amount - the lifetime payment amount (LPA) - can be withdrawn each contract year for your life, even if the accumulation value is reduced to zero (provided no withdrawals in excess of the penalty-free amount are taken)
1. Your net premium amount 2. Your age at contract issue
3. Age when you start income called your lifetime payment election date This is where the lifetime payment increase can increase your earning potential the longer you wait. Upon electing income you can choose monthly, quarterly, semi-annual or annual payments. Payments can be started and stopped at any time. Any non-LPA withdrawals that you may choose to take from your annuity’s accumulation value will reduce your future lifetime payments by the same percentage that they reduced your accumulation value. Please refer to the “finer points” section for information on the GLWB cost and other details.
Assumptions: Initial premium $100,000, issue age 65, taking income eight years later at age 73. Assumes no withdrawals have been taken prior to lifetime income election.
View your guaranteed income potential in seconds with our easy-to-use online calculator.
Lifetime payment amount (LPA) $14,243 =
Lifetime payment percentage (LPP) 14.24%
Net premium amount $100,000
Hypothetical examples and illustrations are for illustrative and educational purposes only and not intended to predict future performance. The use of alternate assumptions could produce significantly different results.
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