Laddering annuities refers to buying multiple annuity contracts — each with its own guarantee period and interest rate. By spreading your assets this way, you can create a strategy to help manage interest rate and reinvestment risks.
During the window period, you may choose to:
Renew into any available multi-year guarantee period, which is effective on the renewal date. A new surrender charge schedule will apply to withdrawals as compared to the initial guarantee period. Note the Market Value Adjustment (MVA), would restart at this time as well. (See page 12 for more detail on how MVAs work.)
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Add more money into the contract, minimum of $10,000, effective on the renewal date, if you elect a new multi-year guarantee period.
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Take some or all of your money out without a surrender charge or MVA.
Annuitize the contract value to receive a guaranteed income stream, without a surrender charge or an MVA.
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A renewal date occurs the day after your current guaranteed period ends.
Not Committed? You have 10 calendar days to cancel your multi-year guarantee period renewal choice or cancel any additional purchase payments you make.
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