Global Atlantic Launched New Retirement Income Product

The new annuity helps retirees convert savings into guaranteed lifetime payments as part of a retirement plan.

Updated on Sept. 21, 2026 in Financial Planning

Bold flat-color editorial illustration of a single brass key on a flat surface, symbolizing long-term financial security. — Global Atlantic has introduced ForeLifetime Income, a new annuity designed to help retirees convert personal savings into guaranteed lifetime payments. AI Illustration. Upload story photo >

Live Poll

Do you feel confident that your current retirement savings plan will provide enough lifetime income?

Global Atlantic has introduced ForeLifetime Income, a fixed index annuity designed to help individuals convert their savings into guaranteed lifetime income. The product is issued by Forethought Life Insurance Company and aims to address the needs of those without defined benefit pension plans.

Why it matters

With 38% of people lacking a specific retirement income plan and only 14% of private industry workers having access to traditional pensions, many households face uncertainty regarding lifetime income. This product offers a way to prioritize asset protection, which 61% of recent survey respondents identified as their primary financial goal.

A 2026 survey found 38% of respondents lack a retirement income plan, while the new annuity offers an optional Income Builder Rider with a 10% annual Deferral Bonus applied for up to 10 years.

The players

Global Atlantic

An insurance and retirement services provider that offers annuities to help households manage lifetime income.

Forethought Life Insurance Company

The Indianapolis-based subsidiary of Global Atlantic that issues annuity products for consumers.

The details

The product, issued by Forethought Life Insurance Company, provides two primary ways to structure income. The Income Builder Rider increases the Withdrawal Base by 10% annually for up to a decade, while the Income Payout Rider offers a higher Lifetime Withdrawal Percentage without the upfront bonus. It is intended for the independent marketing organization channel and is currently unavailable in Idaho, Mississippi, and Oregon.

March 2025: Bureau of Labor Statistics data on pension access was collected.
2026: Global Atlantic conducted its retirement outlook survey.
September 21, 2026: Global Atlantic announced the launch of the product.

Money Landscape

The shift toward private retirement products reflects the long-term decline of defined benefit pension plans, which now cover only 14% of private industry workers. As traditional employer-backed stability wanes, more households are independently seeking tools to secure lifetime income.

If you lack a formal retirement income strategy, consider whether your current savings trajectory will support your lifestyle needs in retirement. Speak with a qualified financial professional to determine if a fixed index annuity fits your specific goal of asset protection versus growth.

The takeaway

With nearly four in ten people lacking a formal retirement income plan, the focus on converting savings to guaranteed income is growing more critical. Use this launch as a prompt to review your own retirement strategy and verify how much of your nest egg is currently protected against market volatility.