Bankers Life Introduces Enhanced Death Benefit Rider for Guaranteed Lifetime Income Annuity and Guaranteed Lifetime Income Annuity Plus
MWN-AI** Summary
Bankers Life, a prominent insurance provider focusing on the needs of Americans nearing retirement, has announced the introduction of an Enhanced Death Benefit (EDB) Rider. This new optional rider aims to enhance the financial security of beneficiaries while allowing clients to enjoy guaranteed lifetime income through its Guaranteed Lifetime Income Annuity (GLIA) and GLIA Plus products.
Launched recently and available in 48 states along with Washington, D.C., the EDB Rider addresses a common concern among clients: the desire for a steady income in retirement while ensuring a meaningful legacy for their loved ones. Scott Goldberg, President of Consumer Division at CNO Financial Group, emphasized the importance of this rider for middle-income Americans who worry about their financial future but wish to utilize their income without compromising on their heirs' financial wellbeing.
The EDB Rider can be added during the purchase of single-life GLIA and GLIA Plus products, especially for clients who intend to take Lifetime Income Withdrawals (LIWs) or Required Minimum Distributions. It is designed to provide potentially greater benefits than a traditional GLIA or GLIA Plus policy, ensuring that policyholders can leave a legacy while enjoying predictable income for life. Additionally, it offers flexibility through spousal continuation features if LIWs have not yet been initiated.
Both GLIA and GLIA Plus products emphasize retaining control and access to funds, with maximum premium limits up to $2 million and potential increases in income payments the longer a policyholder defers withdrawals. For more information on these products and the EDB Rider, customers can visit BankersLife.com.
MWN-AI** Analysis
Bankers Life's recent announcement of the Enhanced Death Benefit (EDB) Rider for its Guaranteed Lifetime Income Annuity (GLIA) and Guaranteed Lifetime Income Annuity Plus (GLIA Plus) marks a strategic innovation aimed at middle-income Americans who are either nearing retirement or currently in it. This product not only addresses the growing concern of providing guaranteed lifelong income but also alleviates the common fear of leaving beneficiaries with nothing.
The EDB Rider offers a unique selling proposition by combining lifetime income with a death benefit, thus encouraging clients to utilize their annuities without fear of diminished legacy. This rider is appealing in today's market where many investors prioritize not just their own comfort but also their beneficiaries' financial security. It enhances the core value of GLIAs by ensuring the policyholder's assets can still act as a financial cushion for their loved ones.
Given the current economic landscape, characterized by inflationary pressures and uncertain stock market conditions, products like the GLIA and EDB Rider provide stability. The guarantee of lifelong income can be particularly attractive, especially as retirees face rising healthcare costs and longevity risks.
For potential investors, it’s crucial to examine their own retirement needs and legacy goals. The ability to add the EDB Rider at purchase gives consumers flexibility and control over their financial strategy, which might lead to higher client satisfaction and retention.
In conclusion, the GLIA with the EDB Rider represents a robust option within the annuity market. Financial advisors should consider recommending these products to clients seeking a balanced approach to retirement planning, focusing on both income assurance and legacy preservation. As the market continues to evolve, keeping an eye on consumer preferences will be essential for leveraging such innovative offerings effectively.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
PR Newswire
CARMEL, Ind., March 4, 2026 /PRNewswire/ -- Bankers Life, a national life and health insurance brand that focuses on the insurance needs of Americans who are near or in retirement, today announced the launch of its Enhanced Death Benefit (EDB) Rider, a new optional rider available that complements Lifetime Income Withdrawals (LIWs) with an enhanced death benefit for designated beneficiaries.
The EDB Rider is now available in 48 states and Washington, D.C., and can be added to single-life Guaranteed Lifetime Income Annuity (GLIA) and Guaranteed Lifetime Income Annuity Plus (GLIA Plus) products.
"We consistently hear from clients who want the confidence of guaranteed lifetime income, but hesitate to start taking income because they worry about what they will leave behind for loved ones," said Scott Goldberg, President, Consumer Division at CNO Financial Group. "The Enhanced Death Benefit Rider was built to resolve that concern, providing dependable retirement income while preserving the ability to leave a meaningful legacy. At a time when middle?income Americans are increasingly concerned about their financial future, this rider helps people confidently use their income today without compromising peace of mind about tomorrow."
The EDB Rider is available at the time of annuity purchase for single?life GLIA and GLIA Plus products. Designed for clients taking LIWs or Required Minimum Distributions, the rider may provide a greater benefit than a base GLIA or GLIA Plus policy—helping ensure that their annuity includes a meaningful legacy for beneficiaries. It also includes built?in flexibility for spousal continuation if LIWs have not been taken.
GLIA and GLIA Plus products offer policyholders the option of a predictable, guaranteed income stream for life, while maintaining flexibility, control and access to their funds. Policies include maximum premium limits up to $2 million and income payments that may increase the longer a policyholder waits to begin withdrawals.
To learn more about GLIA and GLIA Plus with the EDB Rider, and other products offered by Bankers Life, visit BankersLife.com.
About Bankers Life
Bankers Life focuses on the insurance and investment needs of middle-income Americans who are near or in retirement. The Bankers Life brand is a part of CNO Financial Group, Inc. (NYSE: CNO), whose companies provide insurance and wealth management solutions that help protect the health and retirement needs of working Americans and retirees. There are approximately 4,600 exclusive agents, including 800 financial representatives working from more than 230 U.S. sales offices. To learn more, visit BankersLife.com.
SOURCE Bankers Life and Casualty Company
FAQ**
How does the Enhanced Death Benefit Rider (EDB) align with CNO Financial Group Inc. CNO's mission to address the fears of middle-income Americans regarding financial security in retirement?
What specific advantages does the EDB Rider offer over traditional death benefits within the GLIA and GLIA Plus products from CNO Financial Group Inc. CNO?
Can you explain the flexibility for spousal continuation included in the EDB Rider and how it fits within CNO Financial Group Inc. CNO’s overall retirement income strategy?
How does the introduction of the EDB Rider impact the competitive landscape for annuities offered by CNO Financial Group Inc. CNO in the context of consumer preferences for guaranteed income options?
**MWN-AI FAQ is based on asking OpenAI questions about CNO Financial Group Inc. (NYSE: CNO).
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