SunAmerica announced a new enhancement to the MarketLock living benefit feature: the option for lifetime income. The enhanced MarketLock is available on the company's Polaris and Seasons variable annuities, and can help ensure that investors will not outlive their retirement savings, despite a fragile market.
MarketLock – a "maximum anniversary value" guaranteed minimum withdrawal benefit – locks in investment gains to create an income stream that can only increase with the market and never decline, due to volatility.
Investors who elect MarketLock are guaranteed not to outlive their income if they wait until they turn 65 (or older) to begin taking withdrawals of up to 5 percent of their benefit.
