Do Annuities Have Long-Term Care Riders?

Shawn Plummer

CEO, The Annuity Expert

Fixed Indexed Annuities and Variable Annuities

Fixed-indexed annuities (FIAs) and Variable Annuities often come with long-term care riders. These riders allow policyholders to access funds for long-term care expenses under certain conditions. This can be a significant benefit as it provides financial support for healthcare needs in later years.

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MYGAs and Fixed Annuities

Multi-Year Guaranteed Annuities (MYGAs) and Fixed Annuities typically offer long-term care waivers. These waivers can help in accessing annuity benefits without penalties if the annuitant requires long-term care. However, they might not provide direct long-term care benefits like a rider would.


Single Premium Immediate Annuities (SPIAs) generally do not offer long-term care riders or waivers. This means that individuals with SPIAs might need to look for other ways to fund their long-term care needs.

Comparison of Annuity Types and Long-Term Care Benefits

Annuity TypeLong-Term Care RiderLong-Term Care Waiver
Fixed IndexedYesVaries


In conclusion, while Fixed Indexed and Variable Annuities often come with long-term care riders, MYGAs, and Fixed Annuities usually offer long-term care waivers. SPIAs, on the other hand, do not provide either benefit. Understanding these options is crucial for effective retirement and healthcare planning.

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Shawn Plummer

CEO, The Annuity Expert

Shawn Plummer is a licensed financial professional, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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