Advisor Resources' New GLWB Option Stands Out from the Bunch |
|
|
|
Written by U.S. Insurance News
|
|
Sunday, 23 March 2008 |
Guaranteed Lifetime Withdrawal Benefit (GLWB) riders for annuities are popping up like spring tulips.
But Advisor Resources, the Kentucky-based unit of Monumental Life Insurance Company, thinks its new GLWB distinguishes itself rather clearly from the rest of the bunch.
Advisor Resources' optional GLWB is the Architect Rider, available with the no up-front sales load Advisor's Edge Variable Annuity. It offers Registered Investment Advisors (RIAs) an income-planning solution with guaranteed withdrawals regardless of policy value or investment performance.
"We are extremely excited to announce the availability of the Architect Rider to RIAs and their clients," said Gavin Lodge, director of Advisor Resources. "Its straightforward and flexible design gives advisors a unique tool for clients' retirement planning needs."
Lodge added that, unlike many GLWB available today, the Architect Rider enables advisors to select investment options specific to the long-term objectives of their clients.
Most variable annuities require the policyholder to choose from just a handful of pre-selected investment option models when withdrawal benefits are added. However, the Architect Rider is available with a wide variety of non-equity and equity investment choices, including DFA and Vanguard.
Another distinguishing feature of the Architect Rider is that while many GLWB riders are offered on higher-cost annuities that pay commissions, Advisor Resources' rider is a relatively low-cost GLWB solution.
The Architect Rider is an optional living benefit rider available for purchase on the Advisor's Edge Variable Annuity issued by Monumental Life Insurance Company, and the Advisor's Edge NY Variable Annuity, issued by Transamerica Financial Life Insurance Company. The rider must be issued with a maximum equity percentage of 50, 60, or 70 percent. The percentage of sub-account values allocated to the equity designated funds may not be more than the maximum equity percentage chosen.
|
