ForeLifetime Income offers a choice of two Guaranteed Lifetime Withdrawal Benefits, giving financial professionals flexibility to build income around a client’s timeline
Global Atlantic, a leading provider of retirement security and investment solutions and a wholly owned subsidiary of KKR, announced the launch of ForeLifetime Income, a new fixed index annuity developed specifically for the independent marketing organization (IMO) channel. The product is designed to help individuals turn retirement savings into guaranteed income for life by providing greater transparency in building a retirement income strategy.
Read More on Fintech : Global FinTech Interview: AI and the future of fintech with Hugh Cumming, CTO, Vena
For generations, pensions provided many retirees with a predictable source of retirement income. Today, however, only 14% of private industry workers have access to a defined benefit pension plan1. As responsibility for funding retirement has increasingly shifted to individuals, one of the central challenges has become not only how much to save, but how to turn those savings into reliable income that can last throughout retirement.
That challenge is particularly relevant for the first wave of Generation X now approaching retirement. Global Atlantic’s 2026 Retirement Outlook Survey found that 28% of Gen Xers surveyed ages 55–60 were very or extremely concerned about having enough income to last their lifetime, twice the rate of Boomers ages 61–75 (14%). The survey also found that consumer priorities are shifting from accumulating assets toward protecting and drawing down what has already been built, with 61% of respondents placing greater importance on protecting their assets than growing them, and 38% reporting they do not yet have a specific retirement income plan in place.
“Retirement isn’t just about what you save. It’s about what your savings can do for you once the paycheck stops,” said Emily LeMay and Jason Bickler, Co-Heads of Individual Markets at Global Atlantic. “As more people take responsibility for funding their own retirement, protecting what they’ve built and creating income that lasts are becoming fundamental to retirement security.”
ForeLifetime Income offers two paths to build that income, which is selected at the time of application, based on when a client plans to activate income:
Income Options
- The Income Payout Rider offers a higher Lifetime Withdrawal Percentage with no Deferral Bonus, and is designed for clients who plan to activate income sooner.
- The Income Builder Rider applies an annual 10% Deferral Bonus to the Withdrawal Base for up to 10 years, or until income is activated, and is designed for clients who plan to defer income longer.
ForeLifetime Income is issued by Forethought Life Insurance Company, a Global Atlantic subsidiary, and is available through financial professionals. Individuals are encouraged to work with their financial professional to determine whether the product fits their retirement income needs.
Catch more Fintech Insights : Global FinTech Innovations Are Transforming Banking into Continuous Financial Guidance
[To share your insights with us, please write to psen@itechseries.com ]
