What is VIRA?

VIRA (Virtual Annuity) is an innovative financial, not insurance, product that strives to provide retirees with a lifetime steady income stream and long-term care (LTC) coverage, the two most important pillars—along with liquidity and flexibility—of retirement financial security. VIRA is a convertible SMA/ETF that incorporates the following features essential to the welfare of retirees:

  • VIRA does not guarantee a lifetime income stream as such. VIRA comprises two account types: the accessible Payout Account and the restrictive Reserve Account.  When the balance of the Payout Account happens to be depleted, VIRA provides its holders with an option to convert the Reserve Account into an SPIA (Single Premium Immediate Annuity), essentially guaranteeing a minimum lifetime income stream.
  • VIRA lets its holders have instant access to the Payout Account at any time without restrictions or charges.
  • VIRA allows its holders to set their own payout rate and to change it at any time.
  • VIRA allows its holders to access the Reserve Account and, if necessary, arranges a loan to help ease the financial burden when they are in need of LTC or critical illness care.
  • In light of the limited investment horizon of prospective VIRA buyers, VIRA protects VIRA holders’ money against a market crash with VIRA’s proprietary tail risk hedging system, which has been available only to institutional investors.

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