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In the last five to six years the insurance companies who sell fixed indexed annuities understood the need for guaranteed lifetime income with more control to the client. Thus, the addition of the "Guaranteed Lifetime Income Rider".

A Lifetime Income rider guarantees the client’s retirement income for his or her entire lifetime. It also allows the retiree to dip into his principle, should the need arise. Of course, any withdrawals affect the future monthly annuity payments. The key feature is the client has the flexibility they did not have with annuitization of their annuity contract. Almost all Lifetime Income riders also guarantee the client an annual “roll-up” rate of interest. This rate if interest is credited on the lifetime income value. This rate can be as high as 10% annually.

A Fixed Indexed annuity with the Guaranteed Lifetime Income Rider is one of the best, safest and smartest financial vehicles for your client’s retirement dollars. Please go here for a comparison of current lifetime income riders offered.

Lifetime Income Rider Comparison

Lifetime Income Rider Quote Comparison

A combination linked financial product is one that offers multiple benefits to the client – it will cover their accumulation with an annuity and long term care insurance needs in  one contract.  This hybrid type product allows the client to use proceeds for long-term-care coverage, for income or for both.  On January 1, 2010 the Pension Protection Act (“PPA”) provisions are effective.  In 2010 using cash value withdrawals from a combination product designed to pay for qualified LTC expenses will not be considered taxable income, but rather a reduction in cost basis.  Also, from certain combination products extended benefits received will also be excludable from taxable income.