What if you could increase the growth potential of your client’s retirement savings while maintaining access to their money in case the unexpected happens? What if you could also give clients the benefit of an annuity without a big sacrifice to their liquidity?
Retirement savers want three fundamental things when evaluating a vehicle for their retirement money. First, they want growth potential. Second, they want downside protection from market drops, and the third thing is having access to their hard-earned dollars in emergencies.
That is what your clients get with the VersaChoice from North American. With its optional Enhanced Liquidity Benefit (ELB) rider VersaChoice allows clients to participate in some of the market’s upside while giving them access to the money sooner in the event they need it unexpectedly. This innovative Enhanced Liquidity Benefit rider offers more flexibility in four ways.
More generous versions of two basic annuity features:
- Enhanced penalty free withdrawals – After the first contract year clients will be able to take out up to 20% of their beginning of the year account value penalty free if no other withdrawals were taken the prior year
- Return of premium – Any time afterthe third contract year the client may surrender the contract and receive no less than the net premium paid.
Further flexibility when they may need it most:
- ADL-based surrender charge waiver – if unable to perform two of the six activities of daily living up to 100% of the accumulation value is available without surrender charges or market value adjustment.
- ADL–based payout benefit – If unable to perform two of the six activities of daily living after the second contract anniversary clients may choose to draw an income over five years based on up to 125% of their account value.
Nobody ever knows exactly what is around the next bend in life. But if we spend all our time worrying about what-ifs, we will miss out on some of the good stuff. Offer clients the protection they want in case of the unexpected and allow them to keep enjoying life. VersaChoice helps your liquidity-conscious to maintain liquidity in case the “what if’s” become, “what now” with the VersaChoice. Give us a call to learn more and get further details.