Last updated: April 12, 2026 | By Jason Caudill, MBA | Reviewed by the MyAnnuityStore Editorial Team
Best Fixed Index Annuities with an Income Rider (2026)
If you want guaranteed lifetime income that cannot run out, a fixed index annuity with an income rider delivers two benefits in one contract: principal protected from market losses, and a contractual payment stream that continues even if your account value drops to zero.
The tradeoff is the rider fee, typically 1.0% to 1.5% per year deducted from your index credits. For buyers who want guaranteed income, that fee is worth it. For buyers focused on pure accumulation, see our best FIA for accumulation list instead.
The products below are ranked by income rider terms, including guaranteed roll-up rates, payout percentages at various ages, and overall contract value. Each pick comes from a carrier rated A or higher by AM Best.
What to evaluate in an income rider:
- Roll-up rate: How fast your income base grows before you turn on income (typically 5% to 8%)
- Payout percentage: Percentage of income base paid annually at each age (e.g., 5% at age 65, 6% at age 70)
- Simple vs compound roll-up: Compound roll-up grows faster over time
- Rider fee: Annual charge deducted from index credits (1.0% to 1.5%)
- Joint vs single life: Joint-life payouts are smaller but continue for both spouses
Top 5 Best FIAs with Income Rider (2026)
1. Allianz Benefit Control — Best Overall Income Rider
The Allianz Benefit Control is a flagship income-rider FIA from the largest FIA writer in the United States. It offers some of the highest payout percentages at traditional retirement ages (65 to 75) and a strong roll-up rate on the income base.
Why it wins for income-focused buyers: Allianz has paid guaranteed lifetime income to more FIA policyholders than any other carrier. The Benefit Control rider is well-tested, the payout percentages are industry-leading, and the flexibility to start and stop withdrawals is unmatched.
Key features:
- Guaranteed roll-up rate on income base (compound)
- Strong payout percentages at ages 65 through 80
- Flexibility to stop and restart income
- Joint-life option available
- AM Best rating: A+ (Superior)
2. Allianz 222 — Best for Bonus + Income Combo
The Allianz 222 pairs a meaningful premium bonus with a competitive income rider. The bonus gets credited to your income base immediately, which means higher lifetime income once you turn the rider on.
Why it wins for income-focused buyers: The bonus boosts your income base before the roll-up even starts compounding. For buyers with a 10-year accumulation window before income turns on, the math works out to noticeably higher lifetime payments than a non-bonus contract.
Key features:
- Premium bonus credited to income base
- Compound roll-up rate on income base
- Deferral incentives that increase payout percentages
- AM Best rating: A+ (Superior)
3. American Equity IncomeShield 10 — Best Guaranteed Payout Rate
The American Equity IncomeShield 10 is specifically engineered around lifetime income, with a guaranteed payout factor that is competitive with any FIA on the market. Contractually fixed payout percentages mean less interpretation needed when planning income.
Why it wins for income-focused buyers: American Equity’s income calculation is transparent and contractually locked. You know exactly what you will get at each age, which simplifies retirement planning compared to carriers with adjustable payout rates.
Key features:
- 10-year surrender, purpose-built for income
- Guaranteed payout rates at each age
- Simple, transparent income calculation
- AM Best rating: A- (Excellent)
4. Global Atlantic ForeIncome II — Best for Higher Roll-Up Rates
The Global Atlantic ForeIncome II is built around an aggressive roll-up rate on the income base, letting your guaranteed income grow faster during your deferral years. Global Atlantic is backed by KKR, which provides strong investment management depth.
Why it wins for income-focused buyers: If you plan to defer income for 8 to 12 years, ForeIncome II’s higher roll-up rate compounds into larger lifetime income. Best suited for buyers 55 to 62 planning income at 65 to 70.
Key features:
- High guaranteed roll-up rate on income base
- Multiple index crediting options
- Joint life payout available
- AM Best rating: A (Excellent)
5. Athene Agility 10 — Best for Athene-Apollo Backing
The Athene Agility 10 combines Athene’s aggressive FIA pricing with a rider-included income structure. Backed by Apollo Global Management’s institutional investment expertise, Athene offers competitive terms even in declining rate environments.
Why it wins for income-focused buyers: Athene’s ability to manage spread through Apollo-affiliated investments means they can offer competitive income terms without skimping on underlying index exposure. The Agility 10 is well-regarded for its combination of growth and guaranteed income.
Key features:
- Built-in income benefit (no separate rider fee in some versions)
- Apollo-backed investment management
- Multiple crediting strategies
- AM Best rating: A (Excellent)
Quick Comparison Table
| Product | Surrender | AM Best | Best For |
|---|---|---|---|
| Allianz Benefit Control | 10 yr | A+ | Overall best income rider |
| Allianz 222 | 10 yr | A+ | Bonus-boosted income |
| American Equity IncomeShield 10 | 10 yr | A- | Guaranteed payout rates |
| Global Atlantic ForeIncome II | 10 yr | A | High roll-up rate |
| Athene Agility 10 | 10 yr | A | Apollo-backed, built-in income |
How Income Riders Actually Work
There are two separate values inside every FIA with an income rider. Understanding the difference is essential.
Account Value: The actual cash balance in your contract. This is what you can surrender for, what you pass to beneficiaries, and what grows through index credits.
Income Base (a.k.a. benefit base, income account): A separate tracking value used only to calculate your lifetime income. It grows at the guaranteed roll-up rate (often 6% to 8% compound) during deferral. It is not cash; you cannot take it out as a lump sum.
When you turn on income, the carrier multiplies your income base by a payout percentage based on your age. For example:
- Deposit: $200,000
- Income base after 10 years at 7% roll-up: $393,430
- Payout percentage at age 65: 5.5%
- Annual lifetime income: $393,430 x 5.5% = $21,639 per year
That $21,639 is guaranteed for your entire life, even if your actual account value drops to zero from withdrawals. Your principal is protected from market losses during deferral, and your income is guaranteed for life after activation.
Is the Rider Fee Worth It?
Rider fees typically run 1.0% to 1.5% per year, deducted from your account value. Over 10 years, that is 10% to 15% of cumulative value lost to fees.
If you actually turn on lifetime income and live into your 80s, the rider usually pays for itself several times over. A buyer depositing $200,000, deferring 10 years, and taking income for 20 years typically receives $400,000+ in lifetime payments on a $200,000 deposit, net of all fees.
If you never turn on income and simply surrender the contract at the end, you paid 10%+ of your value for a feature you did not use. In that case, a non-rider FIA from our accumulation list would have been a better fit.
What to Look For (and Avoid)
Look for:
- Compound (not simple) roll-up on the income base
- Roll-up rates of 6% or higher
- Joint-life payout option if you are married
- Flexibility to stop, restart, or increase income
Avoid:
- Rider fees above 1.5% annually
- “Bonus” roll-up rates that only apply for the first few years, then drop
- Contracts where the income base cannot be accessed as cash under any circumstances (some do allow partial commutation)
- Income rates that adjust downward based on interest rate movements
Related Resources
- FIA Income Riders: How They Work, Costs, and Comparisons
- Fixed Index Annuity Complete Guide
- Top 10 Best Fixed Index Annuity Companies
- Best FIA for Retirees Over 65
- Best FIA for Accumulation (Ages 50-64)
- Current FIA Rates
Frequently Asked Questions
What is the best fixed index annuity with an income rider?
The Allianz Benefit Control is our top pick for overall income rider quality. It offers one of the highest payout percentages across common retirement ages, a strong compound roll-up rate, and excellent flexibility to stop and restart income.
How much does an FIA income rider cost?
Most income riders cost 1.0% to 1.5% per year, deducted from your account value. Some products (like certain Athene contracts) build the income benefit into the base contract without a separate rider fee.
Is an income rider worth the cost?
If you actually turn on lifetime income and receive payments for 15+ years, the rider typically pays for itself several times over. If you never turn on income and just surrender the contract, you paid for a feature you did not use; an accumulation-focused FIA would have been a better fit.
What is the difference between account value and income base?
The account value is your actual cash balance: what you can surrender or pass to beneficiaries. The income base is a separate tracking number used only to calculate your guaranteed lifetime income. The income base is usually larger than the account value because it grows at the guaranteed roll-up rate (6% to 8% compound) during deferral.
Can I take income from an FIA without an income rider?
Yes, but not with the same guarantees. Without a rider, you can take withdrawals (typically up to 10% per year penalty-free) from your account value, but once it hits zero, income stops. A rider guarantees income continues for life even if the account value drops to zero.
Sources & Citations
- AM Best: Financial Strength Ratings
- LIMRA Secure Retirement Institute
- NAIC Consumer Resources
- Annuity.org: Fixed Index Annuities Explained
Disclosures: Educational information only. Income rider terms vary by contract and state. Rates, payout percentages, and roll-up rates are subject to change; always verify current contract terms before purchase. Guarantees are subject to the claims-paying ability of the issuing insurer.
