Income Rider Calculator

The Income Rider Calculator: A Simple Tool for Retirement Planning

Income riders can offer a consistent income stream throughout retirement, helping to reduce the risk of outliving your savings. The Income Rider Calculator assists financial professionals in guiding clients on when to activate the rider, adjust payments, or potentially increase income based on their goals. It can be used to supplement Social Security and help maximize guaranteed income, with an intuitive slider to select when you'd like your lifetime income to begin.

A live tutorial using the Income Rider Calculator:

What Is an Income Rider & Why Add One?

An income rider is an optional feature you can add to an annuity that guarantees income for life. It can offer benefits like growing income over time and protection from market losses, making it a smart option for secure retirement planning.

Click on the blue menu dropdown, select "Calculators," and then choose the "Income rider Calculator.

Next, you'll see the Income Rider Calculator, along with its various settings and features to help you make an informed decision.

You can address the income gap by analyzing either premium or income.

Solving for Premium: This refers to the required amount needed to achieve a desired annual income. It calculates how much you need to invest in an annuity to reach a specific lifetime income.

Solving for Income: To determine lifetime income, you can input the initial premium amount you plan to invest in an annuity.

On the left, in the white column with the settings button, you can either leave the settings as they are or adjust them to better fit your client's needs. Here, you'll find the "Level of Detail" option.

You can choose to view all annuity income rider options, or click the dropdown to select the top annuity by rider or by carrier.

Next, use the following Annuity Filters to refine your search:

• Quickly filter by a specific carrier or annuity product name.
• AM Best Rating
• Looking for an Income Rider with a Premium Bonus
• Looking for an Annuity Product with an Income Base Bonus

In addition, you can further refine your search.

What do the reports mean? https://annuities-genius.helpscoutdocs.com/article/50-income-rider-calc

If you sort by Hypothetical Values, you will see both Guaranteed and Hypothetical Values. - Please note that hypothetical values feature is only available on the Prime+ or Genius plan.

The Annuities Genius Income Rider Calculator also integrates smoothly with our platform, serving as a comprehensive client-facing point-of-sale tool.

To get more help using the action menu:

Open the action menu to access options like Illustrating or grabbing a brochure, finding more Annuity details.

Income riders are typically most effective when you don’t require income for several years. They are usually offered with deferred annuities, allowing you to grow your assets over time or benefit from the insurance company’s guaranteed base increase. However, if you’re looking to begin your lifetime income right away, immediate annuities or other options might be a better choice.

Why income riders in annuities are often confused with living benefit riders in life insurance

Many agents coming from life insurance are familiar with living benefit riders, which allow access to the death benefit due to illness.

An income rider on an annuity is different. It’s designed to provide guaranteed retirement income, typically later in life, and is not tied to health events.

Think of it this way:

• Life insurance living benefits help if something goes wrong.
• Annuity income riders help if you live a long time.

Disclaimer: The content provided on this blog is for informational and educational purposes only. It is not intended, nor should it be construed, as a recommendation, endorsement, or advice for any specific product, service, or course of action. The information should not be relied upon as a substitute for professional advice or judgment.