There are two accounts for most variable annuities that use income riders: the phantom account and the cash account. It is conceivable that some variable annuities could trigger income off the high-water mark in the phantom account and also permit access to the cash account (a little known fact). It is extremely important to know how to access the cash account without injuring the income benefit. Each variable annuity carrier has their own procedures, and these must be adhered to when accessing the cash value account and triggering the income rider. Steve and Tim escort you through the maximization concepts of variable annuities.
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Steve Savant is the host of the daily producer show, Let’s Get Down to Business, and the weekly consumer show, Steve Savant’s Money, the Name of the Game. Both shows are sponsored by Ash Brokerage. Steve is the #1 online author and videographer of insurance content. Steve has been cited on FO... More