Yes, that's right, 3.95 percent "guaranteed maximum charge."
How on earth can anyone actually consider a product with an expense structure like this?
Granted, the "current" charge (rather than the maximum guaranteed charge) is 2.6 percent for the "i4Life" living benefit feature and the enchanced death benefit.
Let's take the 2.6 percent as the likely charge. Add to this an investment management fee that ranges from .53 to 2.22 percent and you're right back where you started around 4 percent.
I'm sure the product features are fine and compare well with similar VAs, but 3-4 percent right off the top of any gross investment returns in the subaccounts would seemingly present an insurmountable financial hurdle, no?