Compare an immediate annuity with an income rider

A single-premium immediate annuity (SPIA) turns one lump sum into income that normally starts within 12 months.

1. 1.

   Open a new chat. In ChatGPT Work, type @ and pick Annuities Genius first. Paste this.

   Copy

   Using Annuities Genius: my client is a single man in Georgia, born 1959-04-15 (67). He is retired, has $200,000 in a Traditional IRA and wants income for life starting now.

   Use the name "Client GA". Compare an immediate income annuity with cash refund against an income rider annuity that starts income now. Show both as monthly income. Which one pays more? What does each leave his beneficiaries if he dies at the end of year 5 or year 10? For the rider annuity, run an illustration to get it. Mark every figure you worked out yourself. Tell me which one you would show him first and why. I decide.

   Date every figure. If you cannot reach Annuities Genius, say so and give no figure.

   Also compare access to cash. A SPIA usually cannot be cashed out after income starts. Show the rider contract value, surrender charge and excess-withdrawal effect.

   Select the text and copy it.

   Compare access to cash. Excess withdrawals from a rider contract can reduce or end its income guarantee.

2. 2.

   Read both incomes. Check your AI compared the same figure: monthly or yearly.

   Both should be monthly, as the prompt asked. Both should also start now, not later.

3. 3.

   Compare what each option pays beneficiaries at years 5 and 10.

   Cash refund figures are your AI's own arithmetic. Rider figures come from the illustration. Ask for both kinds of illustration numbers: what the contract promises, and a what-if.