While the package is a single premium fixed annuity, looking under the hood at this product reveals some interesting features.
The fact is that the Income Builder is pretty flexible for a SPIA.
An "Advance Access" feature provides liquidity through the ability to take up to 30 percent of the present value of future payments after 3 years and seemingly every 36 months.
Also is the standard endorsement providing liquidity and access to some funds in the event of hospitalization or nursing home confinement.
There is also some sort of bonus or "pay raise" that is provided at the 6th year of ownership.
