![]() The guaranteed withdrawal benefit for life provides for a set withdrawal rate determined by the age at first withdrawal on or after age 59½: 4% for ages 59½ – 64 5% for ages 65 – 75 or 6% at age 76 or older.įees and charges for MGGI include an annual annuity mortality and expense charge for single and joint life coverage of 1.90% and 2.05%, respectively underlying fund expenses (currently 0.84%) and a surrender charge of 2% for the first five years. The minimum single premium is $50,000, and all annuitants must be between the ages of 50 and 85. The “fund of funds” portfolio invests in more than 30 mutual funds and maintains an appropriate target asset allocation mix of 60% in equities, 35% in fixed income investments, and 5% in money market portfolios. It features the Fidelity VIP FundsManager 60% Portfolio, an investment option that offers exposure to multiple asset classes in one investment. MGGI is backed by MetLife and includes a built-in guaranteed withdrawal benefit for life and a death benefit that allows individuals to leave assets to their beneficiaries. Individuals also retain control of their assets and can access a portion of their account value at any time during the contract. ![]() The product provides growth potential when the market improves and downside income protection if the market declines, according to the announcement. MGGI allows individuals approaching or living in retirement to use a portion of their assets, either from a 401(k), 403(b), IRA, or other savings, to purchase guaranteed lifetime income for themselves or their spouses. It has 168 points of presence across Southern Africa, supports around 57,000 employees, and manages a fleet of 4 574 vehicles.The MetLife Growth and Guaranteed Income (MGGI) variable annuity is distributed exclusively through Fidelity and is the only deferred variable annuity with a living benefit sold through the company, according to a press release. The Fidelity Group's strategic and highly successful transformation and BEE initiatives have made it South Africa's largest Black Economic Owned Integrated Security Solution Providerįollowing the acquisition of ADT, Fidelity ADT is a 100% South African, 54.62% black owned company and BBBEE Level One Contributor. With 61 years of experience, the company's strength lies in exceptional leadership, an unwavering commitment to excellent corporate governance, a comprehensive infrastructure and an aggressively proactive approach to staying at the forefront of the continually evolving security environment.įidelity offers unmatched coverage, with a staff complement of over 36 000 in over 82 branches and depots across South Africa, Namibia, Botswana, Zimbabwe, Swaziland, and Zambia The Group's Cash Solutions business continues to grow and has quickly become a serious competitor in the market, garnering a large number of high profile national contracts and bringing state of the art technology backed by Fidelity's hands on approach to the market. With the Group's exceptional leadership, the unwavering commitment of management and that of all its employees, the Group has enjoyed exceptional growth over the last five years. Through a bouquet of services and related products the Group can tailor make a solution for any requirement. By keeping abreast of the latest trends and technological developments globally, and continuously evolving and innovating, the Group remains a front-runner in the security solutions market. Excellence in service delivery and implementation are fundamental to our impressive track record. Fidelity Services Group is Southern Africa's largest integrated security solutions provider and the industry leader in protection innovation.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |