IncomeShield with Lifetime Income Benefit Rider Income for now and for life
What is the Lifetime Income Benefit Rider (LIBR)? The LIBR helps secure a lifelong income source, for contract owners 40-80 at issue. The amount of income to be received is measured by the Income Account Value (IAV). The IAV is credited over time and grows until the earlier of income payments beginning or the end of the Accumulation Period. Depending on the option chosen, a Rider Fee may be incurred and will be based on the IAV and be deducted from the Contract Value each year the rider is attached to the contract. For Option 1, income payments may begin 30 days after contract issue. For Options 2, 3, 4 and 5, income payments may begin any time after the first contract anniversary. On all LIBR options, the minimum payout election age is 50. These payments are available without a Surrender Charge or having to Annuitize the contract. As you explore guaranteed lifetime income solutions for you (and spouse), consider how your income timeline and priorities align with the rider features. Electing to add an LIBR is optional; opting not to will result in higher interest crediting rates on the IncomeShield 10 fixed index annuity.
IncomeShield 10
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