Sammons Retirement Solutions has introduced a new retirement service, LiveWell Fixed Index Annuity (FIA), issued by Midland National Life Insurance Company.
LiveWell FIA offers customers with the LiveWell Income for Life rider option, through which consumers can be guaranteed of income for life, and can also control their money.
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Additionally, the service provides consumers an option to stop and start once income is elected, and the flexibility to decide frequency for scheduled payments.
Sammons Retirement Solutions president William Lowe said that the LiveWell Fixed Index Annuity is the latest addition to its suite of offerings and solutions to help financial professionals address the retirement concerns and challenges of their clients, particularly the ever increasing need for retirement income.
"The LiveWell Income for Life rider offers an 8% simple rollup until it doubles and lifetime payments of 5% at age 65 for a cost of 0.85% annually. This latest addition to the LiveWell Retirement Series carries the same hallmarks that our variable annuity and mutual fund IRA are known for – potential for tax-deferred asset growth in a straightforward structure – along with the ability to customize the solution for an individual’s income needs," added Lowe.
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