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℠ | Index-Linked Annuity | included in M&E charge | 4 | N/A | No | No | Yes | No | Yes | Yes | No |
| 2 | Allianz Life | Retirement Foundation ADV℠ | Fixed Indexed Annuity | 4 | N/A | Yes | N/A | Yes | Yes | Yes | Yes | No | |
| 3 | Ameritas | Advisor No-Load VA | Variable Annuity | included in M&E charge | 65 | 15 | Yes | DFA & Vanguard | No | No | Yes | Yes | Yes |
| 4 | Ameritas | Compass SPIA | Single Premium Immediate Annuity | N/A | N/A | Yes | N/A | No | Yes | Yes | N/A | No | |
| 5 | Ameritas | SPDA 2000 | Single Premium Deferred Annuity | N/A | N/A | Yes | N/A | Yes | N/A | Yes | Yes | No | |
| 6 | Ameritas | Advisor II VUL | Variable Universal Life | N/A | N/A | N/A | N/A | No | 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 | N/A | |
| 10 | Great American Life | Index Protector℠ 7 | Fixed Indexed Annuity | 5 | N/A | Yes | N/A | Yes | Yes | Yes | Yes | No | |
| 11 | Nationwide | New Heights® 9 | Fixed Indexed Annuity | 4 | N/A | Yes | N/A | Yes | Yes | Yes | Yes | No | |
| 12 | Symetra | Advisory Edge | Fixed Indexed Annuity | 2 | N/A | Yes | N/A | Yes | No | Yes | Yes | No |
| wdt_ID | Insurance Company | Product | Solution Type | M&E Charge/Product Fee | Admin Charge | Return of Premium Death Benefit Fee | Annual Contract Maintenance or Subscription 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 | Advisor II 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 |
| 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% |
| 12 | Symetra | Advisory Edge | Fixed Indexed Annuity | N/A | N/A | N/A | N/A | N/A | N/A | 7 or 5 yr. Both 2%. Different in CA | 10% |
| 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℠ | Index-Linked Annuity | 48 states (not NY,AK) | $10,000 | 80 | $1,000,000 |
| 2 | Allianz Life | Retirement Foundation ADV℠ | Fixed Indexed Annuity | 49 states (not NY) | $10,000 | 80 | $1,000,000 |
| 3 | Ameritas | Advisor No-Load VA | Variable Annuity | 49 states (not NY) | $2,000 | 85 | $1,000,000 |
| 4 | Ameritas | Compass SPIA | Single Premium Immediate Annuity | 50 states | $5,000 deposit or $ 50/Mo. Payout | 85 | $1,000,000 |
| 5 | Ameritas | SPDA 2000 | Single Premium Deferred Annuity | 50 States | $10,000 | 85 | $1,000,000 |
| 6 | Ameritas | Advisor II VUL | Variable Universal Life | 48 States (not CA or NY) | $100,000 | 80 | $10,000,000 |
| 7 | Ameritas | Value Plus Term Life Insurance | Term Life Insurance | 50 States | N/A | 80 | N/A |
| 10 | Great American Life | Index Protector℠ 7 | Fixed Indexed Annuity | 49 states (not NY) | $100,000 | 85 (inherited 75) | $2M to 75, $1M 81+ |
| 11 | Nationwide | New Heights® 9 | Fixed Indexed Annuity | 49 states (not NY) | $25,000 | 80 | $1,000,000 |
| 12 | Symetra | Advisory Edge | Fixed Indexed Annuity | 49 States (Not NY) | $10,000 | 85 | $1,000,000 |
by Wade Pfau, Ph.D.,
Learn how the impact of sequence risk on sustainable retirement spending can be mitigated in a straightforward way by creating a risk wrapper for the investment portfolio through a contingent deferred annuity.
