This seems too good to be true. I'm copying text below. Does this simply mean that after 10 years I get $1,000 per month. Not sure what 8% has to do with it. Perhaps the income base grows at 8% until age 65?
"Annuities allow you the option to opt for income for life. For example, if you purchased a $100,000 lifetime fixed annuity with a 8% income rider at age 55 and waited until age 65 to begin receiving distributions, you’d receive a guaranteed $1,000 per month for the remainder of your life. This is preferable to some people who don’t have the time or skill to manage a stock portfolio and
Source of insurance-forums.net
"Annuities allow you the option to opt for income for life. For example, if you purchased a $100,000 lifetime fixed annuity with a 8% income rider at age 55 and waited until age 65 to begin receiving distributions, you’d receive a guaranteed $1,000 per month for the remainder of your life. This is preferable to some people who don’t have the time or skill to manage a stock portfolio and
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