Submitted by Anonymous on
I agree with almost everything said in the other reviews.
This Vanguard variable annuity is inexpensive, simple and has a living benefit feature that is straightforward and cost effective.
The one issue I have is that a different insurance company provides the guaranteed lifetime withdrawal benefit. The company is Monumental Life.
I think this creates some confusion for potential customers.
Why would Vanguard need to bring in another insurance company to provide part of the product?
Doesn't Vanguard have its own insurance company, or couldn't it create one?
Vanguard has such a strong reputation for low cost and high quality. Seems like they could make this work in the insurance world as well.
Overall, I guess it just boils-down to simplicity versus confusion. Having multiple companies provide various parts of the same product does not help to simplify an already confusing financial product.
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