Investors Capital Corporation (ICC), the broker/dealer and investment advisory unit of Investors Capital Holdings, Ltd., has launched the Investor Protector series: a new, innovative managed investment account paired with a stand-alone income benefit.
The account combines Investors Capital Advisory Services’ (ICA) series of asset allocation models with a stand-alone lifetime benefit that offers the investor a 5% lifetime income stream, regardless of market conditions.
Although Lockwood Advisors introduced a stand-alone living benefit in late 2007, ICC claims to be the first independent broker/dealer to offer a lifetime income benefit on managed money.
The initial investment account value establishes the client’s Retirement Income Base (RIB). The investor may lock in a higher RIB if the account value is higher on the anniversary date for an additional fee. At age 65, the client can draw a 5% stream of income based on the highest, locked-in RIB. A spousal benefit is available.
Clients may remove the rider at any time without penalty or surrender charge. The assets are owned by the investor so the investments are fully transparent and accessible.
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