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June 17, 2003 at 08:00 PM
NU Online News Service, June 17, 2003, 10:48 a.m. EDT – Manulife USA, Boston, has updated the Guaranteed Retirement Income Program, an optional rider sold with its Venture family annuities.
The rider guarantees that, as long as a holder keeps assets in the annuity, income will grow at least 5% per year, or 3% per year up to age 85 for buyers who are 76 or older. The rider is supposed to protect customers against market losses while giving them a chance to enjoy some gains if the market goes up.
The Manufacturers Life Insurance Company (U.S.A.), Bloomfield Hills, Mich., backs the guarantees.
