Monumental Life Insurance Company, through its Advisor Resources unit, has introduced optional Guaranteed Lifetime Withdrawal Benefit, a new architect rider available with the Advisor's Edge Variable Annuity.
The new architect rider will offer an income planning solution with guaranteed withdrawals regardless of policy value or investment performance to the registered investment advisors. The guarantees are based on the claims-paying ability of the issuing insurance company.
According to Advisor Resources, while most variable annuities require the policy holder to choose from only a handful of predetermined investment option models when withdrawal benefits are added, the architect rider is available with a variety of non-equity and equity investment choices, within limits, including DFA and Vanguard.
Gavin Lodge, director of Advisor Resources, said: The architect rider allows advisors to select investment options specific to their clients’ long-term objectives, unlike many Guaranteed Lifetime Withdrawal Benefit solutions available today.