North American BenefitSolutions 10 Fixed Index Annuity – Built-In Benefits for Retirement and Care

Most fixed indexed annuities offer income riders as optional add-on features — the buyer elects the rider at purchase, pays an annual fee (typically 0.75% to 1.25% of the income base or account value), and that fee reduces the account value each year regardless of whether income has been activated. The BenefitSolutions 10 income rider is integrated into the contract design as a built-in feature rather than an optional election, which eliminates the rider cost that in standard FIA designs creates a small but real reduction in account value during accumulation years where the index credits zero. Understanding how guaranteed lifetime withdrawal benefits work across different contract structures helps clarify the practical difference: in a standard FIA with an optional GLWB rider, the income base typically grows at a guaranteed roll-up rate while the account value grows via index credits minus the rider fee. In BenefitSolutions 10, the income base structure with its contractual step-ups on the 5th and 10th anniversaries operates as a defined feature of the product rather than a fee-bearing rider. The broader comparison of the best FIAs with lifetime income riders — covering how different carrier products structure income base growth, payout percentages, and rider fees — provides the competitive context for evaluating whether BenefitSolutions 10’s built-in approach produces better projected lifetime income than a standard FIA with an optional rider at a specific premium and deferral period. The answer depends on the specific payout percentages, step-up mechanics, and the rider fee that would otherwise apply — which is why side-by-side illustration comparison is essential before any product selection.

The LTC income multiplier in BenefitSolutions 10 is triggered when the policyholder qualifies as unable to perform a defined number of activities of daily living (ADLs) under the rider’s provisions. Activities of daily living typically include bathing, dressing, eating, toileting, transferring (getting in and out of bed or a chair), and continence — the same qualification criteria used in most standalone long-term care insurance policies. When the qualifying event is documented and approved under the rider, the Lifetime Payment Amount doubles for up to five years. This means a policyholder who was already receiving, say, $2,500 per month in guaranteed income could see that income temporarily increase to $5,000 per month during a qualifying care period — providing meaningful additional resources when care costs are at their highest. The five-year maximum multiplier period aligns with the duration of a typical long-term care need for many individuals, though care needs extending beyond five years would revert to the base Lifetime Payment Amount rather than the multiplied amount. This is the most important limitation to understand: BenefitSolutions 10 is not designed to replace comprehensive annuity-with-long-term-care coverage or a standalone LTC policy for high-care-cost scenarios, but it does provide a substantial income buffer for the majority of care events. For buyers who want to understand whether the BenefitSolutions multiplier is sufficient for their specific situation or whether standalone LTC insurance should be purchased alongside it, comparing the multiplied income amount against realistic long-term care cost projections for their geographic market is the most practical evaluation framework. Our resource on how income riders work provides the baseline understanding of income rider mechanics that makes the multiplier’s function clear in the context of the broader contract design.

The anniversary step-up mechanism in BenefitSolutions 10 provides contractual increases to the benefit base at the 5th and 10th contract anniversaries if income has not yet been activated. These step-ups operate independently of the index crediting performance — meaning that even in a market environment where the index produces flat or below-cap credits during those periods, the income base receives the contractual step-up at the defined anniversary. This is a meaningful distinction from standard roll-up rate designs, where income base growth is tied to a fixed roll-up percentage that may or may not be competitive with the step-up mechanism depending on the deferral period. For a buyer who purchases BenefitSolutions 10 at age 58 and plans to activate income at age 68, the 5th anniversary step-up at age 63 and the 10th anniversary step-up at age 68 both influence the income base before income begins. The 10th anniversary step-up coincides with the income start date — meaning the full benefit of both contractual step-ups is captured before the first income payment. Comparing this outcome against alternative FIA income rider designs that use standard roll-up rates requires a side-by-side illustration using the same premium, the same deferral period, and the same income start age — with the resulting projected Lifetime Payment Amount from each contract providing the direct comparison. Understanding the full range of index annuity crediting methods and how they interact with the income base calculation in different contract designs provides the analytical foundation for making this comparison accurately rather than relying on single-metric comparisons.

Yes — joint lifetime income options in BenefitSolutions 10 continue payments until the second spouse passes away, providing survivor income continuity that is one of the most critical planning elements for married couples. The joint lifetime income structure addresses one of the most significant risks in couple retirement planning: the income reduction that occurs when one spouse dies. Social Security survivor benefits replace only the larger of the two Social Security benefits — the smaller benefit disappears. Pension survivor elections frequently reduce income by 25% to 50% for the surviving spouse. Without a guaranteed annuity income source structured for joint lifetime, the surviving spouse may face a meaningful income shortfall at exactly the moment when financial complexity is highest. Understanding how Social Security and annuity income coordinate as a combined guaranteed income floor — with the joint annuity income filling the gap between what Social Security provides and what essential expenses require — is the framework for sizing the BenefitSolutions 10 premium and income activation date for a couple. The LTC income multiplier adds an additional dimension to joint planning: if either spouse qualifies for long-term care assistance under the rider provisions, the income doubles for up to five years — providing care funding without requiring either spouse to liquidate investment assets or draw from the other partner’s retirement accounts at a period of maximum financial stress. This combination of joint lifetime income continuity and embedded LTC multiplier makes BenefitSolutions 10 particularly relevant for couples where healthcare cost uncertainty is a primary planning concern alongside income sustainability.

If the policyholder dies before income is activated under the BenefitSolutions 10 rider, the standard FIA death benefit provisions apply: the remaining account value is paid to the named beneficiary, typically bypassing probate and delivering funds to heirs directly. This is the standard FIA account-value death benefit — the accumulated cash value of the contract at the time of death. If the income rider has been activated at the time of death and the account value has been reduced to zero by ongoing income withdrawals, the rider provisions determine what, if anything, is paid to beneficiaries. BenefitSolutions 10 includes provisions for remaining guaranteed payments to be extended to beneficiaries over a defined period if the rider is active at death — creating a structured legacy pathway that ensures some value flows to heirs even after income has been drawn from the contract for a period of years. This design ensures the retirement income plan extends to loved ones rather than terminating abruptly if the policyholder dies shortly after activating income. The interaction between the income rider, the account value, and the death benefit across different scenarios — including death before income activation, death early in the income period, and death after extended income distributions — is covered in full in the BenefitSolutions 10 contract illustration, which we provide as part of the quote and comparison process. Understanding how GLWB structures handle the relationship between income continuation and death benefit across the full income period is essential due diligence before selecting any FIA income rider structure as the primary retirement income vehicle.