MetLife Inc. and Fidelity Investments have teamed up to produce a new deferred variable annuity that provides a principal protection guarantee.
The new VA, the MetLife Accumulation Annuity, provides investors both growth potential and protection against loss if held for a minimum of 10 years, according to the companies. The principal protection guarantee is backed by MetLife and, of course, carries with it specific terms, exclusions and limitations.
The guarantee is aimed at getting annuity owners to find and then stick to the appropriate asset allocation without worrying that they will lose their principal — something that's all too easily done, particularly in a volatile market, when investors are either afraid to stick with their choices or try to time the market, doing neither very successfully.
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