Know What You’re Getting – and Giving Up – With an Annuity Income Rider

For many retirees and soon-to-be retirees, if there’s one nagging worry that tops all others, it’s that they might run out of money someday.

Their fear is not unfounded. Americans are living longer. The number of employers offering pensions is dwindling. And there’s a growing concern that Social Security benefits may have to be curtailed if the government can’t get the federal deficit under control.

• SEE MORE How to Pick an Indexed Annuity

Most people understand that they may have to rely heavily on their savings to make ends meet. And they’re looking to set up reliable income sources they can depend on for a retirement that could last decades. Which is why, in recent years, annuities