Care costs: what an income doubler pays

Some annuities pay more income for a time if the client needs long-term care and meets the rider's test. If care is never needed, the client keeps normal income.

1. 1.

   Ask about care: any cover now, any family story. Ask how they weigh the cost against a benefit they may not use.

   On the card: pencil icon, then LTC protection (LTC means long-term care) under Additional Features, then Update Client.

2. 2.

   In Marketplace, open FIAs (index annuities). Open the Riders filter, then choose Long-term care in the Select rider type window and click Apply.

   FIA

   Fixed indexed annuity: interest is credited by a formula tied to an index, within limits such as a cap.

   Income doubler

   A rider feature that can raise the income for a time if the client meets its care test.

   The window also lists Lifetime income with doubler. It is a different rider from Long-term care.

3. 3.

   In the Income rider calculator, open the rider card of the first Indep. Agent row. Check the contract for its waiting period and proof.

   ADL

   Activity of daily living: a basic self-care task, such as bathing or dressing. The rider lists the ones that count.

   Here, income may double for up to 5 years if the insured can't do 2 of 6 daily tasks (ADLs).

   See also:

   • Read the rider: how to open the card
   • Open Income rider calculator in Genius
4. 4.

   Show three outcomes: care needed, care never needed, death. Say it plainly: this is not long-term care insurance.

   Use a slice of the money, not all. A care policy or true care rider is a separate quote.