Yes, the best annuities may include the following features or waivers. These, as a result, help ease the strain of unforeseen events in your life.
Extended Care Waiver
These features help ease the strain of unforeseen events. They do this by offering no additional charge. A contract owner is confined to a nursing home or another long-term care facility. The first contract year has been completed for at least 90 consecutive days. As a result, early withdrawal charges may be waived on withdrawals up to a full surrender.
Terminal Illness Waiver Features
These features kick in probably more than one year after the contract effective date. A contract or joint owner receives a terminal illness diagnosis. Most noteworthy, a prognosis of 12 months or less is given. The individual can withdraw up to 100% of the annuity’s account value without incurring an early withdrawal charge. Withdrawal provisions are used only once over the duration of the contract. However, there is no additional charge for this waiver.