Fidelity Freedom Lifetime Income®

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A simple way to secure a stream of income that's guaranteed1 for life

Fidelity Freedom Lifetime Income®2 (FFLI), a variable income annuity, can help you reduce the risk of outliving your retirement savings by providing immediate income that will last for the rest of your life. Your income will also have the potential to grow over time to help keep pace with inflation.

Overview

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Investments

Key Benefits of FFLI

  • Protect yourself, your spouse, and your heirs: With FFLI, you have the option of providing income for just your lifetime—or for the lifetimes of both you and your spouse. You can also add a guarantee period which ensures that your beneficiary (or beneficiaries) will receive any remaining income payments for a specified period of time.
  • Low cost means greater income potential: There's no initial sales charge and FFLI's annual annuity charge of 0.60% is significantly lower than the industry average of 1.2%,3 so more of your money will go to generating income.
  • Optional withdrawals, in case of emergencies:4 If you purchase your annuity with pretax money, you may be eligible to take up to two partial withdrawals each year. This optional feature can provide you with peace of mind, knowing you have access to your assets in case of an emergency.
  • The power of professional portfolio management: Take the guesswork out of making investment decisions by choosing an allocation- or age-based, single-fund solution. Each fund's manager will make the investing choices, monitor the results, and maintain the target asset mix. These funds are designed to generate income with growth potential.5

Compare with other annuities

Before investing, consider the investment objectives, risks, charges, and expenses of the variable annuity and its investment options. Call or write to Fidelity or visit Fidelity.com for a free prospectus and, if available, summary prospectus containing this information. Read it carefully.
Principal value, income payments, and investment returns of a variable annuity will fluctuate and you may have a gain or loss when money is received.
  1. Guarantees are subject to the claims-paying ability of the issuing insurance company.
  2. Fidelity Freedom Lifetime Income (Policy Form Nos. FFLI-Q-2005, et al. and FFLI-NQ-2005, et al.) is issued by Fidelity Investments Life Insurance Company and, for New York residents, Freedom Lifetime Income (Policy Form Nos. EFLI-Q-2005, et al. and EFLI-NQ-2005, et al.) is issued by Empire Fidelity Investments Life Insurance Company®, New York, N.Y. Fidelity Brokerage Services, Member NYSE, SIPC, and Fidelity Insurance Agency, Inc. are the distributors. The contract's financial guarantees are solely the responsibility of the issuing insurance company.
  3. According to Morningstar, Inc., Fidelity Freedom Lifetime Income's annual annuity charge of 0.60% is significantly lower than that of the industry's average annual annuity charge of 1.2% for immediate variable contracts as of 6/30/09.
  4. Restrictions may apply; refer to prospectus. The withdrawal option is not available in all states and not applicable for non-qualified funds. Taxable amounts withdrawn prior to 59½ may be subject to a 10% IRS penalty. Taking a withdrawal will impact the amount of future payments that you will receive.
  5. If you choose to invest in Fidelity VIP FundsManager® or Fidelity VIP Freedom Lifetime Income® portfolios, please note their performance depends on the performance of their underlying Fidelity funds. These portfolios are subject to the volatility of the financial markets in the U.S. and abroad, and may be subject to the additional risks associated with investing in high-yield, small-cap, and foreign securities.
I'm retired and I want income now, but I'd like the potential to keep up with inflation, too.
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