For a FIA that has the income double for LTC for several years...
If the annuity is joint-life (for two lives), does this feature apply twice or only once?
So if the husband needs LTC and the income doubles for several years, can the wife also use the feature herself afterwards (let's say when the husband is gone)? Or since the husband used it the feature is now gone.
Also, is the feature for x number of years in total, or once it's "turned on", then it's been used whether it was used for the entire allotted time or just a few months? For example, if the income can double for 4 years but was only used for 1 year, are there 3 years remaining for this feature or it has been used and that's it?
Probably depends on the annuity I would assume.
If the annuity is joint-life (for two lives), does this feature apply twice or only once?
So if the husband needs LTC and the income doubles for several years, can the wife also use the feature herself afterwards (let's say when the husband is gone)? Or since the husband used it the feature is now gone.
Also, is the feature for x number of years in total, or once it's "turned on", then it's been used whether it was used for the entire allotted time or just a few months? For example, if the income can double for 4 years but was only used for 1 year, are there 3 years remaining for this feature or it has been used and that's it?
Probably depends on the annuity I would assume.
