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Income Rider

Types of Annuities Part 5: Longevity Annuities (Qualified Longevity Annuity Contracts, QLAC)

A longevity annuity, or QLAC, provides protection against outliving your money if you or your spouse have good longevity. Also known as an advanced life delayed annuity, this type of annuity requires you to wait until you reach age 80 or later, to begin receiving a payout. Once the payout begins, the annuity provides a guaranteed regular amount of income for the rest of your life. These are...
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What is an Income Rider?

The newest feature annuities are promoting is the Guaranteed Minimum Income Benefit Rider, or also known as the Guaranteed Minimum Withdrawal Benefit Rider, or simply the Income Rider, which we will use in this analysis for simplicity’s sake. Let’s take an in-depth look at just how these riders work and see if it is something you should have. Originally annuities were designed to provide a ...
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