Almost every study produced shows more and more consumers are interested in guaranteed lifetime income benefits. It has caused many advisors who were previously opposed to them to get educated and catch up to those of us who were ahead of the curve in providing the very best for our clients.
However, many variable annuity (VA) providers are changing their plans. These changes are taking place in existing and new product offerings. These lifetime income benefits as well as guaranteed death benefits are becoming very expensive for insurers due in part to the extended low-interest-rate environment.