Per previous posts, Prudential Spousal Highest Daily Lifetime 6 Plus guaranteed withdrawal rider may not have been a good investment (we purchased it Dec.2010 in wife's Roth when she was age 63). Using a $100,000 example purchase amount, in two years the Contract Value has increased by 5.7% to 105,700; Surrender Charges remaining is 6% = $106,000 , so I presume we can sell now for a 0.30% loss = -$300. The Estimated Protected Withdrawal Value has increased by 20% to $120,000, so the Estimated Annual Income Amount, now @ 5% is $6,000. If she waited until Dec.2020 to begin withdrawal at her age 73, the 200% Protected Withdrawal Value Guarantee Value would be $200,000 and her Estimated Annual Income Amount @ 5% would then be $10,000 (11 years later at age 84 it would be guaranteed double again @ 6%=$24,000).

Admittedly, I was trying to partially fill the Milevsky "gap" above our guaranteed pension with this Prudential GLiB Variable Annuity, instead of an SPIA but I didn't then see Milevsky's 2009 calculations for this kind of product showing a measly 1% cash-equivalent yield.

So, does she sell now at almost break-even level; wait another 5 years to sell until no more Surrender Charges; or start now to withdraw (using $100,000 purchased example) @ $6,000 annually, or wait another almost 8 years and withdraw guaranteed at no less than $10,000 annually at her age 73 (or wait until her age 84 and withdraw guaranteed at no less than $24,000 (6% of 400%=$400,000).

Also, I can make a case for funding our LMP safe portfolio (Liability Matching Portfolio ala Bernstein) without any annuities and still have some funds left over for a Risk Portfolio.

Thank you in advance for any advice - most Bogleheads have a distinct dislike for this kind of VA GLiB product because of its high expenses and Vanguard has been getting active with similar products at less expenses and no Surrender Charges. But we purchased it just before Prudential reduced the Lifetime 6 Plus to Lifetime 5 Plus and I think they're about to change it to Lifetime 4.5 Plus.