New York Life Updates On Deferred Income Annuity
Proquest LLC |
According to a company release, twenty percent of GFI policyholders have contributed more than one premium payment, confirming that GFI helps satisfy pre-retirees' desire to flexibly invest in their retirements early and over time. Most notably, the product has redefined the retirement income market as ten carriers have introduced similar products since the launch of GFI.
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GFI allows policyholders to set an income start date in the future, at which time they will begin receiving guaranteed income payments for the rest of their lives. Between the initial premium date and the income start date, they can continue to purchase more future income by making additional premium payments, and can defer or accelerate their income start date as their personal needs change.
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