The Secure Lifestyle Annuity Series promises both the Safety Growth Strategy, an innovation in interest crediting, and the Guaranteed Income and Family Wealth Transfer Benefit (GIFT), which combines guaranteed lifetime withdrawals with an enhanced death benefit for one charge.
"We wanted to preserve all the guaranteed elements of a traditional indexed annuity, while infusing innovative benefits like the Safety Growth Strategy" says Philip Polkinghorn, senior executive VP, business development for The Phoenix. "With the Safety Growth Strategy, a client can benefit from the positive return of the
The GIFT Benefit is defined as an optional rider that offers clients guaranteed lifetime withdrawals and an enhanced death benefit with a 6% compound annual rollup in one package. The Phoenix says this allows clients to maximize their income opportunities by deferring the start of withdrawals under their Guaranteed Lifetime Withdrawal Benefit (GLWB), and remain protected by the enhanced death benefit until the beginning of the guaranteed withdrawals under the GLWB rider.
“If the client defers the start of withdrawals for 12 years, the income benefit base used to calculate the annual GLWB amount will grow to more than triple the original premium with the Secure LifeStyle Bonus Annuity,” says Niju Vaswani, president of The AltiSure Group.
