Your client adds Banyan to $350,000 of their overall retirement assets, locking in their income bas.
During the next seven years, through market ups and downs, the account balance grows to $350,000.
Exercise Date / Distributions
Your client locks in the new income base of $350,000 and begins taking 5% annual distributions ($17,500 per year) until their account value reaches zero.
Banyan’s distributions continue for a lifetime. Your client continues to receive the same annual distributions until death.