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Lifetime Income Benefit Option

Lifetime Income Benefit Option

You’ve worked hard to save for your retirement and you want to make sure your savings generate income that lasts a lifetime.

To protect your retirement income, you need to consider:

  • Longevity risk: You might outlive your money.
  • Market return risk: Down markets in the early retirement years may increase the chance you’ll use up your retirement savings sooner than you planned.
  • Inflation risk: Your retirement savings might not earn enough to keep up with the cost of living.

The lifetime income benefit option can help manage these risks and help protect your savings by providing:

  • Guaranteed income for life as early as age 501
  • The potential for an increase in income
  • A safe transition from savings to income

Also, regardless of how the markets perform, your income amount will not decrease.1

Contact us today to learn how choosing the right segregated fund policy, and combining it with the lifetime income benefit option, could help guarantee your income for life, whether you live to 85, 105 or beyond. We can provide you with an investment plan that fits your needs.

The Great-West Life segregated funds contract and information folder contain complete details about all the features of the lifetime income benefit. Read them carefully to ensure you understand the lifetime income benefit and its features.

A description of the key features of the segregated fund policy is contained in the information folder.

Any amount that is allocated to a segregated fund is invested at the risk of the policyowner and may increase or decrease in value.

1 Excess withdrawals decrease the lifetime income amount. An excess withdrawal is a withdrawal that exceeds the annual guaranteed income amount.