Effective March 24, 2014 the maximum rollup age on the Guaranteed Minimum Death Benefit (GMDB) rider has increased from age 85 to age 90 on our Simplicity Elite fixed deferred annuity.
At the death of owner, the GMDB will now be the greater of:
- The annuity’s account value
- The minimum guaranteed surrender value, and
- The initial premium plus 3% interest up to 10 years or until age 90, whichever comes first.
For more details, download Fidelity & Guaranty Life’s announcement.
If you have any questions about these changes, please contact CreativeOne at 800.992.2642.
FOR AGENT USE ONLY. NOT FOR USE WITH THE GENERAL PUBLIC. 14-086