You want to keep doing the things you love after you retire, but you worry about outliving your savings.
You can lay that worry to rest and simplify your retirement. When you choose Helios2 – 75/100 GLWB, your retirement income is guaranteed for life, meaning it will never go down, and may even go up.
Your income is based on your age when you make your first withdrawal. Your age determines what percentage of your contract's protected value you can withdraw every year. Then, no matter how long you live, even if the markets drop, you'll still be able to withdraw this amount every year.
And in the event of your death, your beneficiary would be entitled to the guaranteed value of your contract : which means at least 100% of your deposits, minus an adjustment for any withdrawals you've made, regardless of market downturns. Getting back to your retirement income, there are two ways it can go up: resets based on market value and bonuses.
Let's look at resets first. Your contract can appreciate in value based on market performance. Resets let you incorporate these gains into your income so you don't lose them. Resets occur every three years, provided the market value is higher than the protected value of your contract. Each reset increases your guaranteed income for life.
The other way your income can go up is through bonuses. You can obtain bonuses every year that you don't make a withdrawal. Bonuses increase the value used to calculate your retirement income, and consequently your guaranteed income for life. If you're a few years away from retirement, it's a good way to reach the level of income you're looking for.
In short, no matter how long you live, Helios2 – 75/100 GLWB allows you to keep doing the things you love, even if the markets drop. Your retirement income is guaranteed for life and could even go up due to resets and bonuses.
To find out more, contact your representative!