If you are shopping around for a annuity and wanting to add a lifetime income rider than you must check out the Balanced Allocation Annuity by Aviva. This is the only annuity on the market that will allow you to take withdrawals and still receive your income credit (roll-up rate) in the same year. This is crucial when trying to maximize your retirement income and has allowed us to come up with a strategy that beats out any other companies lifetime income stream.
Here is how it works: You purchase your annuity with the income rider. Allow it to grow for as long as possible before making any withdrawals. When you are ready to receive income you take out the amount calculated by the lifetime income rider (what it would have paid you if you had exercised the rider) but you don’t use the rider yet. You take your income using the 10% penalty free withdrawal. You do this for a number of years in order to get to the next Guaranteed Withdrawal Percentage (confused yet?). Normally this will be for a maximum of five years. Then once your age qualifies you for the next highest bracket in Guaranteed Withdrawal Percentages you turn on your lifetime income stream.
We find that this is a perfectly legal and easy way to receive an additional 10-12% more lifetime income than simply exercising the income rider at the time of retirement. We know you will have some questions so please call us to learn more about this strategy. We are happy to run an illustration for your specific situation in order to show you how much retirement income you can receive from your annuity. Thanks for watching, call us today – (916) 825-9605
