You've spent your entire career working and saving for your future. As you watch the market fluctuate, you may be wondering: "Will my savings last as long as my retirement does?"
We get it—and that's why we developed Income America 5ForLife, a revolutionary retirement income solution. Income America 5ForLife allows you to accumulate savings while you work. When you turn 65, your income base is set to the greater of your contributions or the market value and cannot go down, even if the market drops.
Run the numbers to see how your decisions may impact your guaranteed lifetime income amount.
Regardless of market performance, you will receive 5% of your current income base, every year—for life. Your income base will be the amount you've contributed or your account's market value when you reach age 65, whichever is greater.
You get to participate in the market's upside while still being able to look forward to guaranteed income. When you reach age 65, any and all market gains to your income base are locked in.
You can take your account balance and leave at any time. No surrender charges. No time commitments. No exceptions.
Since this guarantee does not require you to forfeit your market value, if you pass away, remaining market value will be paid out to your designated beneficiaries.
Important information: Guarantees are subject to the claims-paying ability of the issuing companies. The income guarantee is based on the income base at age 65, which is set to the greater of your market value or your contributions (less withdrawals) to date. The market value of your account is never guaranteed and fluctuates based on investment performance. While you can withdraw the market value of your account at any time without any fees or penalties, doing so will cause you to lose the income guarantee. Your income base is never available for withdrawal, but is only used for calculating your income.
When you turn age 65 and at the time you elect to receive income, you must be invested in the 5ForLife In Retirement portfolio, and investment exchanges will be automatically implemented from any other 5ForLife portfolio to the 5ForLife In Retirement portfolio. If you make investment exchanges out of any 5ForLife portfolio, you may not make an investment exchange back into any 5ForLife portfolio within 90 calendar days.
If you withdraw more than the guaranteed annual income amount in any year, your income base and future guaranteed annual income amount will decrease. However, if your required minimum distribution exceeds your guaranteed income amount, your income base will not be affected and your payments will not be lowered. You may be able to roll over your balance to another retirement plan that offers Income America 5ForLife and retain the income guarantee, or to an IRA or plan that offers an option to retain the income benefit base and payout rate; however, the retirement plan or issuing insurer's IRA solution may have different investments, fees, and other features.