June 15, 2020
Offer Your Clients Certainty in Times of Uncertainty
The Lifetime Income Benefit Rider (LIBR) has the potential to provide a guaranteed source of income for life.
Americans are facing many concerns right now, and financial uncertainty is one of them. Help your clients ease their worries by activating the Lifetime Income Benefit Rider (LIBR) on their qualifying life insurance policy from the insurance companies of National Life Group.
How the Lifetime Income Benefit Rider Works
LIBR allows your client to turn their insurance policy’s cash value into a guaranteed stream of tax-free income that is calculated when the rider is exercised¹. There is no additional charge to add the rider to the policy, but there is a monthly charge from the accumulated value during the income payment period.
Some important things to remember about LIBR:
- Policyholders must be at least age 60 but no older than 85 to activate.
- The policy must have been in force for at least 10 years or at least 10 years have passed since the last face amount increase, whichever is later.
- Any outstanding policy loans must be repaid in full.
Need more resources on how to talk to your clients about how the LIBR fits together the key pieces of life’s big puzzle?
