Low-cost, no-load, fee-based variable annuities on the RetireOne platform include investment-only variable annuities (IOVAs), variable annuities with lifetime income benefits, and index-linked annuities (sometimes called ‘buffer annuities’ or ‘structured annuities’). Listed below are the IOVAs and VAs with lifetime income benefits. These riders are also called guaranteed lifetime withdrawal benefits, or “GLWB.”
VAs with lifetime income benefits are typically employed to create income streams. RIAs and fee-based advisors favor IOVAs as pure accumulation vehicles—for rescuing clients’ old, pricey, traditional VAs.
| wdt_ID | Insurance Company | Product | Solution Type | Return of Premium Death Benefit | Investment Options/Crediting Methods | Fund Families | Fixed Account Availability | Ultra Low-Cost Funds | Surrender Penalty | Lifetime Income Benefit | Penalty Free Withdrawals | Systematic Withdrawals | Dollar-Cost Averaging |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Allianz Life | Index Advantage ADV℠ | 1 | included in M&E charge | 4 | N/A | No | No | Yes | No | Yes | Yes | No |
| 2 | Allianz Life | Retirement Foundation ADV℠ | 2 | 4 | N/A | Yes | N/A | Yes | Yes | Yes | Yes | No | |
| 3 | Ameritas | Advisor No-Load VA | 3 | included in M&E charge | 65 | 15 | Yes | DFA & Vanguard | No | No | Yes | Yes | Yes |
| 4 | Ameritas | Compass SPIA | 4 | N/A | N/A | Yes | N/A | No | Yes | Yes | N/A | No | |
| 5 | Ameritas | SPDA 2000 | 5 | N/A | N/A | Yes | N/A | Yes | N/A | Yes | Yes | No | |
| 6 | Ameritas | No-Load VUL | 6 | N/A | N/A | N/A | N/A | No | N/A | N/A | N/A | N/A | |
| 7 | Ameritas | Value Plus Term Life Insurance | 7 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | |
| 8 | Great-West | Great-West Smart Track® Advisor | 3 | 0.20% | 92 | 36 | No | DFA (a) | No | Yes | Yes | Yes | Yes |
| 10 | Great American Life | Index Protector℠ 7 | 2 | 4 | N/A | Yes | N/A | Yes | Yes | Yes | Yes | No | |
| 11 | Nationwide | New Heights® 9 | 2 | 4 | N/A | Yes | N/A | Yes | Yes | Yes | Yes | No |
| wdt_ID | Insurance Company | Product | Solution Type | M&E Charge | Admin Charge | Return of Premium Death Benefit Fee | Annual Contract Maintenance Fee | Portfolio Expense Range (a) | Average Portfolio Expense (a) | Surrender Charge Schedule | Penalty Free % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Allianz Life | Index Advantage ADV℠ | Index-Linked Annuity | 0.25% | 0.00% | included in M&E charge | $50 < 100k | 0.65%-0.73% | 0.69% | 6.5,6,5,4,3,2 | 10% |
| 2 | Allianz Life | Retirement Foundation ADV℠ | Fixed Indexed Annuity | N/A | N/A | N/A | N/A | N/A | N/A | 6.5,6,5,4,3,2,1 | 10% |
| 3 | Ameritas | Advisor No-Load VA | Variable Annuity | 0.45% | 0.00% | included in M&E charge | $40 < $50k | 0.15%-3.76% | 0.76% | N/A | 100% |
| 4 | Ameritas | Compass SPIA | Single Premium Immediate Annuity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | None |
| 5 | Ameritas | SPDA 2000 | Single Premium Deferred Annuity | N/A | N/A | N/A | N/A | N/A | N/A | 7,6,5,4,3,2 | 10% |
| 6 | Ameritas | No-Load VUL | Variable Universal Life | 0.70% years 1-15, .10% years 16+ | N/A | N/A | N/A | N/A | N/A | N/A | |
| 7 | Ameritas | Value Plus Term Life Insurance | Term Life Insurance | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| 8 | Great-West | Great-West Smart Track® Advisor | Variable Annuity | 0.20% | 0.00% | 0.20% | N/A | 0.19%-6.52% | 0.95% | N/A | 100% |
| 10 | Great American Life | Index Protector℠ 7 | Fixed Indexed Annuity | N/A | N/A | N/A | N/A | N/A | N/A | 7,7,7,6,5,4,3 | 10% |
| 11 | Nationwide | New Heights® 9 | Fixed Indexed Annuity | N/A | N/A | N/A | N/A | N/A | N/A | 9,9,9,9,8,7,6,5,4 (some states differ) | 7% |
| wdt_ID | Insurance Company | Product | Solution Type | Availability | Minimum Initial Investment | Maximum Issue Age | Max Total Contributions w/o Approval |
|---|---|---|---|---|---|---|---|
| 1 | Allianz Life | Index Advantage ADV℠ | 1 | 48 states (not NY,AK) | $ 10,000 | 80 | $ 1,000,000 |
| 2 | Allianz Life | Retirement Foundation ADV℠ | 2 | 49 states (not NY) | $ 10,000 | 80 | $ 1,000,000 |
| 3 | Ameritas | Advisor No-Load VA | 3 | 49 states (not NY) | $ 2,000 | 85 | $ 1,000,000 |
| 4 | Ameritas | Compass SPIA | 4 | 50 states? | $ 5000 deposit or $ 50/Mo. Payout | 85 | $ 1,000,000 |
| 5 | Ameritas | SPDA 2000 | 5 | 50 States? | $ 10,000 | 85 | $ 1,000,000 |
| 6 | Ameritas | No-Load VUL | 6 | 50 States? | $ 100,000 | 80 | $ 10,000,000 |
| 7 | Ameritas | Value Plus Term Life Insurance | 7 | 50 States | N/A | 80 | N/A |
| 8 | Great-West | Great-West Smart Track® Advisor | 3 | 50 states | $ 10,000 | 85 | $ 1,000,000 |
| 10 | Great American Life | Index Protector℠ 7 | 2 | 49 states (not NY) | $ 100,000 | 85 (inherited 75) | $ 2mill to 75, $ 1mill 81+ |
| 11 | Nationwide | New Heights® 9 | 2 | 49 states (not NY) | $ 25,000 | 80 | $ 1,000,000 |
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