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What is a nursing home rider?SummaryIn this 0:26 Annuities Explained YouTube Short, Jeffrey Scott McLeod, LUTC, covers “What is a nursing home rider?.” What is a nursing home rider? Well, think of the annuity like a horse and the rider rides on the back of it. And there are surrender charges on the annuity, but. If you're in the nursing home for 90 days, they wave those surrender charges and give you 100% liquid liquid access to your saved dollar Insurance education only—not securities advice. Key takeaways
From the NAIC Buyer’s GuideYou usually have to pay a surrender or withdrawal charge if you take some or all of your money out of a deferred annuity during a stated period. Some contracts allow a limited free withdrawal each year (for example, 10% or less of account value). Fees, surrender charges, and any market value adjustment can reduce what you receive. Read the contract for how charges work in your state. The 2022 NAIC Buyer’s Guide for Deferred Annuities explains that an annuity is a contract with an insurance company. With an annuity, the insurer promises to pay income on a regular basis for a period you choose—including the rest of your life. Source: NAIC Buyer’s Guide for Deferred Annuities (2022). The guide does not endorse any company or policy. For your state insurance department, see www.naic.org. Questions about fixed index annuities? Call or text 501-658-9882 · Book a time on the calendar Insurance-only disclaimer Jeffrey Scott McLeod, LUTC, is a licensed insurance producer. Content on this page is educational and discusses insurance products only—not securities, brokerage, or investment advisory services. Texas license 901162. Arkansas / National Producer Number 558629. Product availability, rates, and features vary by state and insurer. Read the NAIC Buyer’s Guide and the insurance contract before you buy. More videos |
Jeffrey Scott McLeod, LUTC — Licensed insurance producer. Texas license 901162. Arkansas / National Producer Number 558629. Insurance products only; not securities or investment advisory services.
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