Income Plus+ is Achaean Financial’s patented business process that supports lifetime income annuity products. Income Plus+ offers a competitive guaranteed stream of lifetime monthly income that cannot decrease due to potentially volatile markets. The unique structure of Income Plus+ is designed to counter the impact of inflation by providing the highest probability of increasing income at significantly less cost compared to other guaranteed income strategies; a critical feature considering retirement for many retirees will last over 30 years. For non-qualified after-tax premiums, a substantial percentage of each payment is not taxable.
Income Plus+ can be based on either a variable/separate account or fixed index/general account format. In both instances, the design of Income Plus+ benefits the insurer by markedly reducing the risk-based capital required to support the underlying guarantees and level of income compared to other, more capital-intensive products.
Income Plus+ is attractive for advisors seeking to provide competitive guaranteed lifetime income and additional benefits for clients who wish to maintain their lifestyle and independence throughout retirement.