The Assured Edge Income Builder is a type of fixed income annuity that guarantees you a lifetime income, as well as an opportunity to steadily grow it in the future. This fixed annuity is tax-deferred with guaranteed lifetime withdrawal benefit to provide a consistent retirement income to live out the rest of your life.
Assured Edge Income Builder Facts
Eligible Premium Period
Once you’ve paid the initial premium, normally a minimum of $25,000, and your contract has been issued, you have an option to add to your premium within the first 60 days.
Income Flexibility
Assured Edge Income Builder offers you the flexibility of choosing when to begin receiving your lifetime income. You can opt to start immediately, as early as the age of 50 or in the future.
Guaranteed Minimum Renewal Rate
Investors are assured of the security of their principal even through turmoil economic conditions in the future. Regardless of the market volatility, your annuity is guaranteed a renewal at or above the minimum interest rates, as indicated in the contract.
Flexible Income Rate Options
Income rates are estimated based on an individual’s age at contract issue. For investors aged 65 at the issuance of the contract, a guaranteed income of up to 5.6% of the contract value is currently provided in the contract. Older issue ages are offered higher withdrawal percentages (up to 6.35%), while lower percentages are applied to younger issue ages.
Lifetime Income
The Assured Edge Income Builder contract also provides a simple interest of 7.5% as income credit growth for each year a withdrawal is not made, or until before an investor decides to begin taking their lifetime income withdrawals. If you elect to take withdrawals before you start your lifetime income payouts, your income growth credit and total guaranteed lifetime income are in turn affected.
Penalty-Free Withdrawal Privilege
Assured Edge Income Builder includes contract provisions that allow you to make multiple withdrawals of up to 10% of the contract value, at the start of the first contract year, without incurring any withdrawal charges or market value adjustment. These are known as the penalty-free withdrawals. In case a withdrawal is taken in the initial contract year, the amount paid is based on the total number of eligible premiums received by the time of withdrawal.
Potential Benefits
Assured Edge Income Builder offers a low risk, lifetime retirement income alternative to investors whose benefits include:
- Ready and easy access to their retirement assets
- A guaranteed lifetime income.
- Guaranteed security and stability of their asset value.
- Flexible and Penalty-free withdrawals.
- Income growth advantage.
The Assured Edge Income Builder annuity is accessible in all states apart from New York.
