Annuityratewatch.com, Inc. has expanded its suite of fixed annuity analysis software to calculate the highest Guaranteed Lifetime Income Benefit for prospective annuitants.
With an input of the annuitant’s age, premium, state of residence and the year in which they would like retirement income to begin, the GLIB Calculator solves for the highest income payment.
The software calculates all the possible combinations of over 250 annuity products combined with more than 100 riders to find the product and rider that provides the highest income payout for that individual.
The calculations include increasing, inflation adjusted, joint, and enhanced payout values. The GLIB Calculator’s detailed reports include a “Payout by Age” report, which shows the impact of deferral before commencing income payments. The “Detailed Ledger” report shows a complete income scenario including how contract values are affected by the associated cost of Lifetime Income Riders.
The GLIB Calculator can be found at annuityratewatch.com and is available for license to broker-dealers, banks, insurance distributors, investment advisors and brokers.
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