Annuities Can Be Enhanced by a Potpourri of Riders

When you’ve selected an annuity based on your financial needs and risk tolerance, you need to review the entire menu of rider provisions available. For most consumers, these riders provide benefits that annuity purchaser never knew existed. You just don’t know what you don’t know. An annuity rider is generally viewed as an amendment to the annuity contract and most riders have an associated cost to them. Weighing the cost of the rider against the benefits it provides is known as the value proposition. A commuted payout rider can generate liquidity from a single premium or deferred annuity during the payout period. This is a great liquidity feature for policy owners who want the option to access a lump sum of money in the future.

Refund riders are another option for policy owners who are concerned about dying before their principal has been paid out. There are two refund options: installment and cash. So if the annuitant dies, the policy beneficiaries can receive the difference between what the annuitant received and the original deposit. Installment refunds will be amortized and the cash refund will be paid in a lump sum to the policy beneficiaries. Watch the interview with popular platform speaker, best-selling author and PBS host Tom Hegna, who shares several additional annuity rider options.

http://rightonthemoneyshow.com/annuities-can-be-enhanced-by-a-potpourri-of-riders-tom-hegna/  With these riders, you can customize your annuity benefits for your financial situation.