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Welcome to Shootin' It Straight With Stan. I am your host Stan The Annuity Man, America's annuity agent, licensed in all 50 states. I am so glad you joined me on this topic, which is a good one. And it came from my good friend, John Lenz. I call him the annuity architect.

This is part of the Fixed Indexed Annuity blogs I've done on the product, which will help the consumer understand what's being pitched out there. Today, we're going to talk about Income Riders attached to Indexed Annuities. Why? When? How? What? And does it make sense?

Today's topic is annuity light switch, lifetime income guarantees. I want you to envision a light switch. You just shut it on and off, right? When you need light, you shut it on. When you need it to be dark, you shut it off. There are annuity types out there that allow you to shut things on and off and shut income on and off.

We're talking about retirement withdrawal strategies using Income Riders. We'll talk about how Income Riders work, where they're attached to, what products use Income Riders, what you should know, good and bad, about Income Riders, the limitations, and the benefits.

I am so glad you joined me on this topic: Annuities Are Contractual Commodities. This might make many industry people mad, but they know I'm right. Let me explain what I'm talking about. We all know what commodities are: wheat, corn, oil, etc. So, when I say the word commodity, I'm not saying that they will deliver nine tons of corn to your front door if you don't close out the contract right.

Old age is tough; old age is terrible. I always tell people with long-term care when they can't do two of the six daily functions in life when they qualify for it, which is feed themselves, clothe themselves, and bathe themselves; I mean, life stinks. Am I right? Does life stink when you can't do that?

Today's topic is a very, very good one. It is timely and one you need to pay attention to for sure. Income Riders versus DIAs, Deferred Income Annuities, which one is better? Now, if you go to the bad chicken dinner seminar, expensive steak dinner seminar, or shopping locally for annuities, in most cases, you're only going to be shown Income Riders attached to Indexed Annuities.

We're talking about retirement withdrawal strategies or strategies using Income Riders. So we're going to talk about how Income Riders work, where they're attached to, what products use Income Riders, what you should know, what is good and bad about Income Riders, the limitations, the benefits, what I call the asterisk, the things that not anybody knows.

Hi there. Stan, the Annuity Man, America's annuity agent, here with you again. You have typed into the bar, the bar screen, the Google thing, how are Income Riders taxed? That is an excellent question. I will answer it very briefly, and then we will dig deep, so hang in there with me. The answer is, depending on the type of rider you have attached to your Deferred Annuity.

Man, we're going to have fun today. We're going to make an annuity comparison looking at Income Riders versus Deferred Income Annuities. The acronym is DIA. Let's talk about the difference between the two and the similarities. This falls under the category of, what? Retirement income insurance, lifetime income insurance, income insurance, whatever you want to call it. Car insurance, fire insurance, home insurance, health insurance, dental insurance, and income insurance. That's what these are.

An interesting topic today comes directly from my interactions with people on the phone. This topic is why are income riders currently paying more contractually than Deferred Income Annuities? We're going to go through all of that, and the details of that and why that matters to you when you're looking for future income guarantees after this.

So how much do you need to pay yourself? How much will an annuity for lifetime income pay using our calculators? Good question. So if you're looking for a monthly annuity calculator, what will an annuity pay me for life per month? How do I calculate that?

We're talking about enhanced benefit riders and some examples.

Income riders are attached to some policies. You should understand what they do and what they do not do. What is an income rider? Why do they call it an income rider? Well, it rides on the policy. So, typically the two types of policies that offer income riders that you can attach at the time of application are Fixed Indexed Annuities and variable annuities.

Today, we will talk about the cost of living adjustment riders with income riders and products like Immediate Annuities, Deferred Income Annuities, etc.