This fixed indexed annuity offers the potential for growth linked to market indices while providing a guaranteed minimum interest rate. A specific product offered by Delaware Life, it allows individuals to accumulate tax-deferred savings for retirement, with the “10” likely referring to a specific aspect of the contract, perhaps a surrender charge period or a guaranteed interest rate duration. For instance, contributions might be subject to a decreasing surrender charge percentage over a ten-year period.
Such financial vehicles are designed to address the need for predictable retirement income. The guaranteed minimum interest rate provides a level of security against market downturns, while the index-linked growth potential offers the opportunity to participate in market gains. Historically, fixed indexed annuities have appealed to risk-averse investors seeking a balance between growth and principal protection. The specific features and benefits of this product likely aim to offer a competitive solution in the retirement planning landscape. Understanding the intricacies of surrender charges, index crediting methods, and other contract details is crucial for informed decision-making.
