Deferred variable annuities with a guaranteed lifetime withdrawal benefit

Available through The Fidelity Insurance Network®,1 deferred variable annuities with a guaranteed lifetime withdrawal benefit (GLWB) provide you, or you and your spouse, with growth potential and guaranteed income for the rest of your life, starting when you're ready.


Get in touch

Open an annuity

800-544-4713


Questions about an existing annuity?

800-634-9361

Growth potential

Potential to grow your future income and outpace inflation with Fidelity VIP FundsManager 60%2

Guaranteed income

Avoid outliving your assets by guaranteeing a lifetime withdrawal benefit amount

Flexibility

Ability to choose when you want to start income and access your account value as needed3 (surrender charges may apply4 and guaranteed amount will be reduced)


Minimum investment

$50,000


Fund research

View the Fidelity® VIP FundsManager® 60% performance


Fees

Annual contract fees to include annuity charges, GLWB rider and underlying fund fees.5


Key features


  • Annual guaranteed income is determined by the value of your Benefit Base as well as your age and how long you've owned the contract—the longer you wait to take your lifetime withdrawal benefit amount, the higher your lifetime income will be. The Benefit Base has no cash value and is not available as a lump sum withdrawal.
  • A minimum Benefit Base is established by your initial investment and increases at 5% simple interest for the first 10 years or until your first lifetime withdrawal, whichever comes first. Your Benefit Base is protected from loss even if the contract value declines.
  • If your contract value grows by more than 5%6, your Benefit Base will increase, or reset, to the higher amount.

Here is how it works

The value of your contract will fluctuate with the market. The following hypothetical examples illustrate what happens to your Benefit Base in both down and up markets. These examples assume that no withdrawals are taken during the 5-year deferral period.

Hypothetical example: Take advantage of any market growth to help build your Benefit Base. The Benefit Base minimum is established with your initial investment. On each contract anniversary this minimum is increased by 5% simple interest for up to 10 years or until your first withdrawal. Then, on any contract anniversary, if the contract value is greater than this minimum, your Benefit Base will be reset to the higher contract value. If no withdrawals are taken, your Benefit Base can never decrease. As your Benefit Base grows, so does your potential future income.


Graph showing that the Benefit Base minimum is established with your initial investment. On each contract anniversary this minimum is increased by 5% simple interest for up to 10 years or until your first withdrawal. Then, on any contract anniversary, if the contract value is greater than this minimum, your Benefit Base will be reset to the higher contract value.

This hypothetical example is for illustrative purposes only. It is not intended to predict or project specific investment results or income amounts.


*Guaranteed withdrawal amount is calculated by multiplying the Benefit Base at the end of the deferral period, 5 years in this case, by the applicable withdrawal rate. Since withdrawal rates increase as you get older, the longer you wait to take income the higher your potential income may be.

Hypothetical example: Your Benefit Base is guaranteed to increase regardless of your investment performance. If markets are down and no withdrawals are taken, your Benefit Base increases by 5% on each contract anniversary for up to 10 years or until your first withdrawal, so you still build your future income in underperforming markets.


If markets are down and no withdrawals are taken, your Benefit Base increases by 5% on each contract anniversary for up to 10 years or until your first withdrawal.

This hypothetical example is for illustrative purposes only. It is not intended to predict or project specific investment results or income amounts.


*Guaranteed withdrawal amount is calculated by multiplying the Benefit Base at the end of the deferral period, 5 years in this case, by the applicable withdrawal rate. Since withdrawal rates increase as you get older, the longer you wait to take income the higher your potential income may be.

Learn more

These resources explain some of the investment and retirement challenges that annuities may help you meet.

Retirement Income Planning (PDF)
Learn about how a mix of investments can help provide income and growth potential in retirement.

Safeguard your retirement income
Read this Fidelity Viewpoints® article to learn how a "secured income strategy" may help guard against market volatility.

Create future retirement income
Read this Fidelity Viewpoints® article about how a mix of investments can help provide income and growth potential in retirement.

Get in touch

Contact us to get help and answers.

call us

Open an annuity

800-544-4713

Questions about an
existing annuity?

800-634-9361