BOSTON, Feb. 28, 2013 /PRNewswire/ -- Annuityratewatch.com, Inc. has expanded its suite of fixed annuity analysis software to calculate the highest Guaranteed Lifetime Income Benefit for prospective annuitants.
With a simple input of the annuitant's age, premium, state of residence and the year in which they would like retirement income to begin, the GLIB Calculator solves for the highest income payment. The software calculates all the possible combinations of over 250 annuity products combined with more than 100 riders to find the product and rider which provides the highest income payout for that individual.
The calculations include increasing, inflation adjusted, joint, and enhanced payout values. The GLIB Calculator's detailed reports include a "Payout by Age" report which shows the impact of deferral before commencing income payments. The "Detailed Ledger" report shows a complete income scenario including how contract values are affected by the associated cost of Lifetime Income Riders.
"This software is unique from every other income calculator in the industry due to the large number of income riders, and with the detail that only ARW can provide," says Mark Legan, President of AnnuityRateWatch.com.
The GLIB Calculator can be found at annuityratewatch.com and is available for license to Broker Dealers, Banks, Insurance Distributors, Investment Advisors and Brokers.
Annuityratewatch.com was founded in 1995 with the purpose of collecting annuity data, building analytical software, and providing a historical database for annuity professionals. As an innovative leader in the financial services industry ARW has created numerous software packages for insurance carriers, wholesalers and brokers.