Transamerica Life Insurance Co. has enhanced the guaranteed minimum withdrawal benefit schedule for its Retirement Income Choice 1.2 and Retirement Income Choice 1.4 annuity riders. Each rider now pays one percentage more a year.
New clients between the ages of 65 and 74 who begin taking withdrawals can now receive up to 5% of their withdrawal base annually for life, and those ages 75 and older can receive up to 6% of their withdrawal base. The two riders still offer compounding 5% withdrawal base growth based on the previous year’s highest value.
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