Variable annuities with guaranteed living benefit riders surged up 78% in the past two years to more than $521 billion in the fourth quarter of this year, according to a new LIMRA report charting the sales prowess of more than 95% of the variable annuity sector.
Because more and more investors are finding they need to bolster their retirement income as they age, variable annuities have become a viable alternative to traditional variable annuities that primarily only offered guaranteed minimum death benefit payouts to surviving beneficiaries.
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