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January 28, 2008 at 01:07 PM
Life insurers now offer some kind of guaranteed living benefit with most of the variable annuity contracts sold in the United States.
Researchers at Milliman, Seattle, an actuarial and consulting firm, have published that finding in a summary of results based on a survey of 19 carriers that offer at least one type of guarantee.
The participating carriers account for about 57% of new VA sales, the Milliman researchers estimate.
The researchers looked at guaranteed minimum income benefits, guaranteed minimum accumulation benefits, guaranteed minimum withdrawal benefits and guaranteed lifetime withdrawal benefits.
