Clients interested in guaranteed lifetime income? Great-West Life & Annuity Insurance Co. has developed such a product, in the form of a mutual fund, for the bank-affiliated broker-dealer market in response to growing investor demand for guaranteed income in retirement.

Dubbed Great-West SecureFoundation Smart Future, the new retirement product brings clients “the advantages of a familiar retail mutual fund investment along with the benefits of a lifetime income guarantee outside of the traditional variable annuity structure,” Chris Bergeon, vice president of Great-West’s Financial Institutions Markets, said in a statement.

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