What Is Income Multiplier and How Can It Help Increase Your Annuity Income?
Planning for retirement isn’t just about building income — it’s about preparing for the unexpected.
Health events like a chronic illness or the need for extended nursing care can quickly lead to a big jump in expenses.
That’s where riders like Income Multiplier, available with certain annuities issued by the companies of National Life Group, may help.
Key things to know about Income Multiplier:
- Income can increase when it’s needed most: Receive 2× income for single life or 1.5× for joint life if eligible.
- Applies to guaranteed income: Provides a one-time increase to your guaranteed withdrawal payment.
- Designed for specific health events: May be available if you experience a qualifying chronic illness or require extended nursing care.
- Eligibility requirements apply: Including a 2-year waiting period, sufficient accumulation value, and no excess withdrawals in the current policy year.
- Continues based on eligibility: Increased income continues as long as requirements are met.
What is Income Multiplier?
Income Multiplier is a rider available with certain annuities that provides the potential for guaranteed lifetime income. It can increase your guaranteed income if you experience a qualifying health event.
If eligible, you may receive:
- 2× your income for single life, or
- 1.5× your income for joint life
This increase applies to your guaranteed withdrawal payment, helping provide extra financial support when your needs may be higher.
When can Income Multiplier be used?
Income Multiplier may be available if you experience certain qualifying health conditions, including:
Nursing Care Need
You may qualify if you are:
- Permanently receiving intermediate nursing care, in a facility or at home, for an organic disease for at least 90 consecutive days.
Chronic Illness
You may qualify if you are:
- Unable to perform at least two of six activities of daily living, such as bathing, dressing, or eating, without substantial assistance for at least 90 consecutive days; or
- Experiencing severe cognitive impairment for at least 90 consecutive days.
Qualification must be certified by a U.S.-based health care professional.
What conditions must be met?
To qualify for Income Multiplier, requirements include:
- Your policy has been in force for at least 2 years
- Your accumulation value is greater than zero
- No excess withdrawals have been taken in the current policy year
- You meet one of the qualifying health triggers
How does the income increase work?
If you meet the eligibility requirements, Income Multiplier increases your guaranteed withdrawal payment.
This increase:
- Can be applied when income begins or later
- Continues as long as eligibility requirements are met, subject to contract terms
As with any annuity rider, specific terms and conditions apply, so it’s important to review your policy details.
What should you do next?
If you already own an annuity that provides a guaranteed lifetime income, or are considering one, talk with a financial professional to learn:
- Whether Income Multiplier is available with your annuity
- How it fits into your overall retirement strategy
- What conditions and limitations apply according to your specific policy
Guaranteed Lifetime Withdrawal Benefit, form series 20835(0326)GLWB/ICC26-20835(0326)GLWB, Enhanced Benefit Rider - Single Life, form series 21042(0326)EIBS/ICC26-21042(0326)EIBS, Enhanced Benefit Rider - Joint Life, form series 21043(0326)EIBJ/ICC26-21043(0326)EIBJ, or state variations thereof, are issued by Life Insurance Company of the Southwest. This advertising material is used by multiple states, some with varying form number requirements; therefore, all required variations are provided.
- Permanent inability to perform at least two activities of daily living (bathing, dressing, transferring, toileting, continence, and eating) without substantial assistance for at least 90 consecutive days or permanent severe cognitive impairment for a period of at least 90 consecutive days.
- To qualify, you must be permanently receiving intermediate nursing care (including medical facilities or home health care) for an organic disease for a period of at least 90 consecutive days.
- The policy must have been in force for at least 2 years, the accumulation value must be greater than zero, and there can’t have been excess withdrawals in the current policy year. No withdrawals in excess of the current lifetime income have been taken in the current policy year.
Income Multiplier only available with certain annuities from Life Insurance Company of the Southwest. This feature is not available in all states. If available in your state, the nursing care, terminal illness, and chronic illness waiver riders may provide access to a portion of your accumulation value without penalty, starting in year 2. See your policy for qualifying events.
Indexed annuities do not directly participate in the market, market indexes, or any stock or equity investments. Guaranteed lifetime income may be provided either by annuitizing an annuity, or through purchasing an annuity with an income rider. Guarantees are provided through life insurance and annuity contracts and are dependent upon the claims-paying ability of the issuing company.
All guarantees and benefits of the insurance policy are subject to the claims-paying ability of the issuing insurance company. They are not backed by the broker-dealer and/or insurance agency selling the policy, or any affiliates of those entities other than the issuing company affiliates, and none makes any representations or guarantees regarding the claims-paying ability of the issuer.
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