New Lifetime Withdrawal Rider Offers Creative Withdrawal Option

August 2, 2018 by Cyril Tuohy

A variable annuity policyholder typically collects guaranteed lifetime withdrawal benefits from an insurer when the account value drains to zero, but a new annuity rider allows insurers to start those payments even if there’s money still left in the account.

This is an industry first, according to Sammons Retirement Solutions.

Sammons began distributing the LiveWell Freedom VA with the new GLWB rider through banks, independent broker-dealers and full-service broker-dealers.

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Originally Posted at InsuranceNewsNet on July 27, 2018 by Cyril Tuohy.