By Linda Raineault
Have you heard the sales pitch?
There are annuities available that contain provisions known as “nursing home income doublers” that can help you pay for the cost of a nursing home stay.
These provisions are found in annuity contracts that guarantee the purchaser an income stream for life by way of an income rider that is attached to the base contract.
The sales pitch sounds fantastic!
Many contracts are sold based on a premium bonus feature and guaranteed high annual interest rates that sound fabulous in today’s low interest rate environment.
Additionally, the owner can elect to start taking the guaranteed income stream for life at any time after the contract is purchased. Continue reading