Close
ThinkAdvisor

Life Health > Annuities > Variable Annuities

Hartford Jumps Into Lifetime Withdrawal Fray

X
Your article was successfully shared with the contacts you provided.

Hartford Financial Services Group Inc. is leaping into the competition to give consumers more options for generating lifetime retirement income streams.[@@]

Hartford, Hartford, is introducing the Lifetime Income Builder rider, a rider that can guarantee purchasers of variable annuities the right to withdraw a minimum amount of benefits from the annuities during the remaining years of their lives.

Hartford is promising purchasers of the rider that they can receive guaranteed return of principal; a guaranteed lifetime retirement income stream; and annual opportunities to review and possibility to increase the income payments.

The Phoenix Companies Inc., Hartford, and a U.S. unit of ING Groep N.V., Amsterdam, announced guaranteed minimum withdrawal benefit features earlier this month.