Innovative new withdrawal option anchors enhancements
The updated ForeRetirement variable annuities now offer Daily +4, another innovative, optional withdrawal benefit featuring daily step-up potential for income. Forethought stands apart as the only company in the industry with multiple daily step-up withdrawal options with Daily +4 alongside its predecessor, Daily 6.
“This second generation of our ForeRetirement variable annuity is the product of Forethought’s continued innovation and investment in the VA marketplace,” said
Innovative New Withdrawal Option with Daily Step-Ups
The innovative Daily +4 breaks tradition with typical annuity withdrawal benefits. Instead of applying either a fixed deferral credit or performance-based increases, Daily +4 credits both. A 4% annual deferral credit applies on top of daily, performance-driven growth potential, or step-ups, for income purposes.
“By introducing Daily +4 alongside our more traditional Daily 6 optional withdrawal benefit, Forethought offers greater optionality for different types of investors,” said
The benefits are offered at an additional charge. For both options, the deferral credit applies until the tenth contract anniversary or first withdrawal, if sooner.
Expanded Investment Platform
In addition, the ForeRetirement variable annuity investment platform has been enhanced with three new
ForeRetirement variable annuities are offered in B, C and L share classes, sold through select national and regional financial institutions, including wirehouses, banks and independent broker-dealers. ForeRetirement is available is 49 states. Forethought does not issue in
About Variable Annuities
Variable annuities are long-term investments intended for retirement purposes that offer tax-deferral, professionally managed investment options and flexible payouts. Values will fluctuate with investment performance, and the annuity may gain or lose value. Charges and fees will also reduce its value. Optional benefits are not available for purchase outside of a variable annuity and may be elected at an additional cost. A standard death benefit is included in the base product. Suitability and willingness to purchase the variable annuity must be considered prior to the potential benefits of any optional features.
Variable annuities are sold by prospectus. The prospectus contains investment objectives, risks, fees, charges, expenses, and other information regarding the variable annuity contract and the underlying investments, which should be considered carefully before investing money. You can obtain a prospectus from your financial advisor or by visiting www.forethought.com.
Taxable distributions (including certain deemed distributions) are subject to ordinary income taxes, and if made prior to age 59½, may also be subject to a 10% federal income tax penalty. Distributions received from a non-qualified contract before the Annuity Commencement Date are taxable to the extent of the income on the contract. Payments from IRAs are taxable in accordance with the normal rules surrounding taxation of payments from an IRA. Early surrender charges may also apply. Withdrawals will reduce the death benefit and any optional guaranteed amounts in an amount more than the actual withdrawal.
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