USAA Announces Guaranteed Retirement Income Plan

November 4, 2011 ( -  USAA Life Insurance Cos. has announced a new immediate income annuity, the Guaranteed Retirement Income Plan. 

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.

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