Company Description
"Fidelity Freedom Lifetime Income®1 (FFLI) is a variable income annuity that provides lifetime income, helping to reduce the risk that you will outlive your retirement savings."Product
Fidelity Freedom Lifetime Income Annuity
States Available
Not Available
Minimum Premium
$25,000
Max Premium (without home office approval)
$4,000,000
Issue Ages
45 to 85
Available Benefit Modes
Annual, Semi-Annual, Quarterly, Monthly
Life & Periods Certain Available
Yes, 5 to 45 years (if tax qualified, limit to IRS life expectancy)
Periods Certain Only Available
No
Joint & Survivor Available
Yes, choice of 100%, 66.67%, or 50% benefit continuation upon first death
Cash Refund Available
Not Available
Other Seprate Account Charges
0.10%
Fund Operating Expenses (recent year)
0.29% to 0.99%; varies by fund
Premium Load (for Premium Tax)
0%-3.5% (based on state & tax qualification)
Pricing
To be determined
Assumed Investment Returns
3.5%
Guaranteed Minimum Income Benefit
No
US Large Cap Stock Index Fund / Fee
No
US Mid & Small Stock Index Fund / Fee
No
US Bond Index Fund / Fee
No
Foreign Stock Index Fund / Fee
No
Number of Funds Offered
3
Commission
Cash Value
M&E Fee
Maximum: Not Available
Current: 0.50%
Other Features
Withdrawal period