That annuity your client purchased several years ago may not provide the rich benefits it once promised. Blame it on paltry Treasury rates and market volatility, but some annuity providers are scaling back on payouts, changing rules and raising fees on some riders. In one example, MetLife cut the withdrawal rate on one of its guaranteed minimum income benefit riders on several variable annuities from 5.5% to 5%. Such changes have some advisors questioning whether annuities are such a great deal for their clients anymore.

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