Retirement income · 5 min read
What Is an Income Rider?
An income rider can turn part of a retirement strategy into a dependable stream of income designed to last for life.
A feature designed for dependable income
An income rider is commonly available with an annuity. It provides a contractual method for calculating future lifetime payments, helping you know how one part of your retirement income can continue no matter how long you live.
Two values with two different jobs
The contract may show both an account value and an income value. The account value shows the money available under the contract's access rules. The income value is used to calculate the lifetime payment. Seeing them separately makes the benefit easier to understand.
- When can lifetime income begin?
- What payment could begin at different ages?
- Can the income cover one life or two?
- Can the payment continue beyond age 100?
- What value remains available for other needs?
The takeaway
A lifetime-income feature can help make a long life feel like something to celebrate. The important question is what the payment could look like for your age, your timing, and your goals.