What is Lifetime Income?

Life insurance with the Lifetime Income Benefit Rider (LIBR) provides death benefit protection for your heirs as well as the potential for guaranteed income for life. Exercise your Lifetime Income Benefit Rider during retirement and receive income for the rest of your life - guaranteed.¹

Your goal

You want a strategy that will not only protect your loved ones in the event of your premature death, but will also give you options to protect your retirement goals.

Exercising LIBR

If you decide to use your life insurance to supplement retirement income, you can exercise your Lifetime Income Benefit Rider, if certain conditions are met.¹

Payment Options

Once qualifications are met and rider is exercised, LIBR will guarantee you income for the rest of your life. You may choose between a Level Payout Option or an Increasing Payout Option.

Summing up, what exactly is lifetime income and the Lifetime Income Benefit Rider (LIBR)? Simply, a financial tool that is not an annuity and yet guarantees a stream of income during your retirement, for as long as you live¹, ensuring you will enjoy your golden years without worrying about how you will pay for the things you need and want during retirement.

1 The Lifetime Income Benefit Rider provides a benefit for the life of the insured, if certain conditions are met. These conditions include, but are not limited to, the insured’s attained age being between 60 and 85, and that the policy has been in-force at least 10 years (15 years for select policies). Insufficient policy values, outstanding policy loans and other considerations may also restrict exercising the rider. Exercising the rider and receiving an income benefit will reduce the policy’s cash value and death benefit and may terminate other riders or reduce their benefits. Guarantees are dependent upon the claims-paying ability of the issuing company.