The company said these new offerings are built by MetLife to help provide clients more guaranteed income and more consistent returns over time.
The GMIB Max and EDB Max offer clients 6% compounded growth and 6% withdrawals per year of the benefit base and the same real-life flexibility as MetLife’s GMIB Plus and Enhanced Death Benefit riders, both of which will continue to be offered. Clients can adapt to changing circumstances by starting and stopping withdrawals at any time, without losing the compounding feature. These riders also provide flexibility and choice for surviving spouses.
Clients who elect the GMIB Max and/or EDB Max may invest in one or more of the four Protected Growth Strategy portfolios and/or an intermediate government bond portfolio.
According to a press release, the Protected Growth Strategies include:
- AllianceBernstein Global Dynamic Allocation Portfolio,
- AQR Global Risk Balanced Portfolio,
- BlackRock Global Tactical Strategies Portfolio, and
- MetLife Balanced Plus Portfolio, advised by MetLife Advisers, LLC with an overlay sleeve sub-advised by PIMCO.
Clients also have the ability to invest in the Pyramis Government Income Portfolio, sub-advised byPyramis Global Advisors.