MetLife Enhances GMIB Plus/Predictor Plus for Variable Annuities

MetLife announced today that its enhanced Guaranteed Minimum Income Benefit (called GMIB Plus or Predictor Plus) rider will now allow customers to take advantage of market gains annually, rather than every three years. If the account value increases due to market gains, customers may increase the 5% compounding income base, which is used to calculate future minimum income payments, each year up to the current account value. The GMIB Plus/Predictor Plus rider, originally launched in 2005, is designed to offer guaranteed income for life, while prior to electing the guaranteed income for life option, allows dollar-for-dollar withdrawals of the 5% compounding income base up to 5% annually...

BusinessWire: MetLife Enhances GMIB Plus/Predictor Plus for Variable Annuities