Standard Life Ideal Income GLWB (discontinued)

Standard Life Ideal Income GLWB

Breaking News: Standard Life Ideal Income GLWB (Guaranteed Lifetime Withdrawal Benefit) will no longer accept new GLWB contracts, and limit the amount you may deposit to existing contracts effective April 16th 2012.

 

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General Info:

In addition to its strengths in the accumulation phase, the Ideal Segregated Funds – Signature Series family offers an ideal solution for clients in the payout phase. Both the Ideal 75/100 and Ideal 100/100 Series help protect your capital while providing growth opportunities, while the Ideal Income Series offers the optimal protection against longevity risk: guaranteed lifetime income.

At a Glance Pro’s:

Standard Life has been a leader in Guaranteed Investments in Canada, since they have focused their business on investments in 2012, Standard has been a leader in both Life Annuities and GMWB products. They have the unique offer of a 100% maturity and a 100% Death Benefit Guarantee on their GMWB Product.

At a Glance Con’s:

If you are looking for some of the big brand name funds you see on TV you will not find them here. Standard Life has a very large basket of funds to invest in, so without the proper guidance you will be overwhelmed.

Minimum Investment:

$10,000

Guarantees:

You are given a standard 75/100 Guarantee; 75% Principle Guarantee after 10 years; and a 100% Death Benefit Guarantee from Contract issue. And as well a 100/100 product with additional fees.

Annual Income Base Interest Rate Credited (or Market Value, whichever is higher):

5% Income Base Guarantee or Market Value, whichever is higher.

Account Automatic Market Value Resets:

Every 3 years, if the Market is higher, you receive the Market Value, if 5% is better than market return, there is no need for a reset.

Guaranteed Minimum Income for Life:

5% of Account Value or Income Base Value, whichever is higher for Life, starting at age 65.

MER Fee including Income for Life fee:

From 1.7% to 4.2% Depending on Fund

S & P Rating based upon Financial Stability and Strength:

Rating of A+