MGM unveils 'money back' annuity guarantee

It said its 'new rules annuity' offers improved death benefits to customers. It offers a money-back guarantee either through extended income guarantee periods of up to 30 years or handing back the balance of any remaining funds on death in a lump sum. Customers will now be able to choose an annuity that pays income guaranteed for any period up to 30 years. The firm said old rules only facilitated guarantee periods of up to ten years. Retirees can also opt for a value protection benefit of up to 100% of their initial purchase price. This will give a lump sum on death at any age, the...