Home Articles Want guaranteed income for life? Consider an Income Rider

Want guaranteed income for life? Consider an Income Rider

Another guaranteed part of this policy is the principle, including the credited interest earned every year.

In practice, this means that if both spouses pass away before they have been paid back the $300,000 they put in, plus any interest, their beneficiaries are guaranteed to get the rest of the money.

In the second column, the estimated cash value of the policy for every year was shown. In the fourth column, the guaranteed cash value is shown. The numbers in column 4 look much lower since they are the guaranteed amount, and based on the premise that the market would do poorly the entire life of the policy. It is more likely that your beneficiaries would get an amount closer to the numbers in the second column, but the fourth column shows the minimum amount they would receive.

If we look at the chart, we can see that at age 81, the couple would have received their full $300,000 back in yearly income payments. That means that starting at age 81, their heirs are guaranteed nothing.

But, if both spouses passed away early, say age 72, and only got 2 years of income payments, their heirs would receive, at a minimum, $257,133.


Listen To Finishing Well on Truth

Newest Live Episodes of Finishing Well are on The Truth Network

Finishing Wellhttps://www.cardinalguide.com/finishing-well/
Retirement planning involves a lot more than just managing your money. This show is the complete guide to planning for and living in retirement, helping families finish well. Host Hans Scheil will discuss a new topic every week ranging from Social Security and Medicare to IRAs and taxes. Follow along each week by downloading the corresponding chapters below for free! New episodes air: Finishing Well Schedule on Truth Network
- Advertisment -

Recent Posts

A Godly Perspective on End-of-Life Decisions (Part 1 of 2)

Dr. Kathryn Butler, an experienced trauma surgeon, helps families navigate end-of-life decisions according to Biblical principles. (Part 1 of 2) Get Dr. Butler's book "Between...

The Pulpit: Its Powers and Pitfalls (Part 1 of 2)

Hazard signs are posted for our protection, warning of potential dangers and encouraging us to proceed with caution. The pulpit has its own unique pitfalls—and pastors need to be on the alert! Learn more as Alistair Begg sounds the alarm on Truth For Lif

Heaven on Earth: Face to Face

Ever let your mind wander about how things will be heaven? The Apostle Paul said, after the Rapture, we’ll be with the Lord forever,...

Vision Week Radio Special – Part B

This collection of topical teachings from Skip Heitzig includes anniversary celebrations, messages about the vision of the church, special teachings from conferences and countries around the world, and more.

Happiness is in You, Part 04

Hungering and Thirsting for Righteousness

When The Answer Is Delayed Part 2

God gave Abraham promises that would not cometo pass for hundreds of years.Next time you feel like God is a bit slow toanswer your prayers, remember thatHis scale of time is bigger than yours.He has a larger agenda.&nb

Why Do Good Things Happen to Bad People?

Sermon Overview Scripture Passage: Romans 8:28-39 The Bible says there is no good person, not one. (See Romans 3:10.) Every good thing we have is due...

Why Doesn’t God Do Something? I – Part 2 of 2

“O Lord, how long shall I cry, and thou wilt not hear! even cry out unto thee of violence, and thou wilt not save!” (Habakkuk 1:2).

For Puppies?

For Puppies? Steve talks to Michael Woolworth,
%d bloggers like this: