Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Annuities

MetLife Revises VA Riders

By Staff Writer

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

A unit of MetLife Inc. has changed its variable annuity lineup, adding a death benefit option and updating 2 living-benefit riders.

The optional death benefit rider provides a guaranteed death benefit at least equal to purchase payments accumulated at 6% through age 90, or the highest anniversary value though age 80, if greater.

Annual step-ups are available through age 80.

MetLife also updated 2 rider options, the Guaranteed Minimum Income Benefit Plus option and the Lifetime Withdrawal Guarantee option.

If a GMIB rider is elected, the income base now will compound at 6% through age 90, up from age 85.

The LWG rider changes now allow for more asset accumulation and potentially larger withdrawals, as well as more portfolio flexibility, MetLife says.

The MetLife unit that issues the contracts and riders is responsible for backing the rider guarantees.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.