My current thought is to ignore any income riders based on the following thinking (which I welcome being challenged on)!
When I have recently evaluated up for renewal policies from 10+ years ago that had guaranteed life income riders, I did a side by side spreadsheet of about a dozen SPIA's. Instead of taking the income rider option, it was fairly easy to find a SPIA with a much better payout rate and options. This was even though the original annuity was during much higher interest rates. (and started with a 7.5% S&P pt-to-pt annual cap which declined to 3%).
The SPIA which was life/
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When I have recently evaluated up for renewal policies from 10+ years ago that had guaranteed life income riders, I did a side by side spreadsheet of about a dozen SPIA's. Instead of taking the income rider option, it was fairly easy to find a SPIA with a much better payout rate and options. This was even though the original annuity was during much higher interest rates. (and started with a 7.5% S&P pt-to-pt annual cap which declined to 3%).
The SPIA which was life/
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