Yes, what you’re locking is the monthly payment per $1,000 of premium.I'm in the process of purchasing a SPIA. Quotes have a "rate lock," but when I look at the quotes I don't see an interest rate per se. The only thing I see is an "Income as % of Premium" rate. Is that the rate I am locking in?
Or, as you put it, the “income as % of premium”.
Statistics: Posted by Stinky — Tue Sep 03, 2024 8:55 pm — Replies 4 — Views 313