15 Questions to Answer Before Taking That Buyout Offer For Your Annuity Riders
Many owners of variable annuities purchased in the mid-2000s have been receiving letters from the insurance companies offering substantial sums for giving up the guarantees provided in their income or death benefit riders. The riders were named a confusing alphabet soup of initials that would drive a Scrabble champion nuts. Known as GMIB, Enhanced GMIB, Enhanced GDB, GWB, GAB, etc., they were coupled with their method of computing the increases – automatic step-up and ratcheting to name a couple. The riders aimed to provide a...
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