Variable Annuities - Living Benefits
Variable annuities commonly offer, for a fee, certain protections for payouts, withdrawals, or account values against investment losses and/or unexpected longevity. These features are typically conditioned on limitations on how much will be paid or can be withdrawn, and on limitations as to what investment options may be selected. Failure to comply with these limitations can significantly reduce or even eliminate the promised benefits.
For more information about living benefits and other features offered by variable annuities, please read our publication, Variable Annuities: What You Should Know.