Sunday, November 08, 2009

MetLife talks about variable annuities as stabilizing long-living retirees financial pictures

I thought I would note that CNN today has been carrying advertisements from MetLife for variable annuities, as offering “buffering” of a guaranteed income flow even during market downturns, while increasing in value when the market goes up.

There is a website called “Annuity FYI” (link here.

There are a number of guaranteed benefits available with many contracts. These include Guaranteed Minimum Income Benefits (GIMB’s), Guaranteed Minimum Withdrawal Benefits (GMWB’s), Guaranteed Account Value Benefits (GAV’s) and Lifetime Withdrawal Benefits (LWB’s). These tend to offer some additional protection to retirees (especially female) who could fear that they could outlive their wealth.

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