Want the latest retirement plan adviser news and insights? Sign up for PLANADVISER newsletters.
Products November 4, 2011
USAA Adds Immediate Income Annuity
USAA Life Insurance Cos. has announced a new immediate income annuity, the Guaranteed Retirement Income Plan.
Reported by Tara Cantore
The Guaranteed Retirement Income Plan is an annuity that allows owners to receive a guaranteed income for life, with the flexibility to withdraw up to 30% of the annuity’s present value after three years in the event of a qualifying financial emergency, such as an uncovered medical expense.
An immediate income annuity like the Guaranteed Retirement Income Plan can help cover basic living expenses in retirement when income from Social Security and military or corporate pensions are not enough, the company said.
For more information, visit www.usaa.com.
You Might Also Like:
Osaic Enhances Retirement Income Tool for Financial Advisers
The wealth management platform augments its income planner for financial advisers currently managing more than $4 billion per year.
ERISA Advisory Council Makes Case for Annuities as Part of QDIA
An ERISA Advisory Council hearing explored expanding the use of annuities in default investment offerings.
Broadridge Launches Retirement Income, Stable Value Evaluator
The new tool allows plan fiduciaries to evaluate the growing list of in-plan DC annuity options.