According to a news release, Allstate’s new SureIncome Withdrawal Benefit Option allows investors to withdrawal up to 8% of the principal per year. The option, available for an added annual charge, helps those who wish to protect their principal and pursue potential growth, according to the announcement.
Because Allstate guarantees that customers will not end up with less than their original investment, this assures predictable withdrawals should the stock market decline, according to the news release. Yet if the market rises, individuals can lock in a higher guarantee after five years, Allstate said.
The announcement said that customers who are transitioning into retirement and looking to build an income plan can also choose the Income Protection Benefit Option, which provides a guaranteed minimum level of income for the rest of their lives. This benefit can be added when the individual begins taking variable payments or income from the annuity. There is an added mortality and risk charge for this option, the company said.
The Allstate Advisor Variable Annuity includes a number of investment alternatives from investment managers, such as:
- Franklin Templeton Investments
- Lord, Abbett & Co. LLC
- Putnam Investments
- Van Kampen Investments.
Financial advisors, who wish to obtain more information and a prospectus for the enhanced Allstate Advisor Variable Annuity, can do so by registering and logging onto www.accessallstate.com or Broker Dealers can call 1-877-507-6881 for more information. Financial Institutions/Independent Planners can call 1-877-254-0772.
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