How to use the Deferral Snapshot in the Income Rider Calculator

The deferral snapshot is a feature within the Income Rider calculator that enables agents to view projected income benefits at various deferral periods. This snapshot can be accessed through the action menu (three vertical dots) located to the left of each carrier/product in the Income Rider calculator. It assists in comparing potential income benefits based on different deferral durations.

The deferral period refers to the length of time a client chooses to wait before commencing income payments. Generally, the longer the deferral period, the higher the income benefits due to the accumulation of interest and other factors. 

The Benefit Base is the amount used to calculate the income payments. It is typically the initial premium plus any bonuses or interest accrued over the deferral period. This base amount is crucial as it directly impacts the income benefits the client will receive.

The Withdrawal Percentage is the percentage of the Benefit Base that the client can withdraw annually as income. This percentage is determined by the terms of the annuity contract and can vary based on factors such as the client's age and the length of the deferral period.

The Guaranteed Annual Income is the fixed amount of income that the client will receive each year once they start taking withdrawals. This amount is guaranteed by the annuity provider and is calculated based on the Benefit Base and the Withdrawal Percentage.

The Income/Premium Ratio is a measure of the efficiency of the annuity. It is calculated by dividing the Guaranteed Annual Income by the initial premium paid by the client.