Pennsylvania-headquartered investment management company and provider of company-sponsored retirement plan services Vanguard Group has included a new feature in its low-cost Vanguard Variable Annuity, which offers 17 diversified investment options. The Guaranteed Lifetime Withdrawal Benefit (GLWB) rider, issued by Monumental Life Insurance Co., combines the benefit of low-cost Vanguard investments with the guarantee of the insurance company.
GLWB, an optional rider that offers a guaranteed income stream for life, will be available on Balanced Portfolio, which is actively managed by Wellington Management Co., Moderate Allocation Portfolio and a new Conservative Allocation Portfolio. Additionally, Vanguard also provides investors in or approaching retirement a wide range of products and services to develop a robust retirement income program.
Click here for the release from Vanguard Group.