I am 70 years old, married, and have had an Accumulator Elite (NQ) contract for 10 years with AXA of Secaucus, NJ. I now have the opportunity to exercise the Guaranteed Minimum Income Benefit (GMIB), which guarantees me a minimum amount of lifetime income. Now I can convert my Accumulator Elite (NQ) contract to an Income Manager Payout Annuity Level Life annuity with period certain) contract.
Is this a good thing to do? What questions do I need to ask AXA about this? Would I be better off staying with my current contract? Or should I just cash out and deposit the money somewhere else?
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Is this a good thing to do? What questions do I need to ask AXA about this? Would I be better off staying with my current contract? Or should I just cash out and deposit the money somewhere else?
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