Products November 4, 2011

USAA Adds Immediate Income Annuity

USAA Life Insurance Cos. has announced a new immediate income annuity, the Guaranteed Retirement Income Plan.
Reported by

The Guaranteed Retirement Income Plan is an annuity that allows owners to receive a guaranteed income for life, with the flexibility to withdraw up to 30% of the annuity’s present value after three years in the event of a qualifying financial emergency, such as an uncovered medical expense.

An immediate income annuity like the Guaranteed Retirement Income Plan can help cover basic living expenses in retirement when income from Social Security and military or corporate pensions are not enough, the company said.

Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.

For more information, visit www.usaa.com.

«