May is the typical month for insurers to launch changes to their annuity line up.

On Monday, MetLife announced two annuity riders with four investment options designed to minimize volatility: GMIB Max or EDB Max variable annuity riders with Protected Growth Strategies. Clients who want stock portfolios invested like institutional and endowment funds, combined with guaranteed income and a death benefit, might take a look at the combination. The product offers 6% compounded growth and clients can start and stop withdrawals at any time.

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