An annuity statement may show several values with different purposes. If a rider lists an income benefit base, ask whether it is only a payment-calculation figure rather than cash available for withdrawal. Do not treat every growing number as an account balance that can be withdrawn.
The NAIC guide distinguishes cash surrender value from optional living-benefit payments. This worksheet uses that distinction to organize questions about a contract's labels; the insurer must explain the actual rider calculation and cash-access terms.
Label each value by its use
| Value or payment | What to locate | Question to ask |
|---|---|---|
| Accumulation value | Contract definition | How does this value change? |
| Surrender value | Current insurer quotation | What cash is available after applicable adjustments? |
| Income benefit base | Rider definition | Is this a calculation-only figure? |
| Withdrawal percentage | Applicable rider schedule | Which age, date or election controls it? |
| Income payment | Written election illustration | What conditions must continue to be satisfied? |
| Death benefit | Applicable provision | Is it based on the same value or a different measure? |
A rider's roll-up, credit or bonus does not automatically represent an investment return on withdrawable cash. Ask which value receives it, how it affects a payment and whether charges or withdrawals alter the result.
Compare three actual scenarios
Request illustrations for continuing without income, starting the rider's permitted withdrawals and surrendering the contract. Keep the amount, date and assumptions explicit. Compare what can be paid now with what may be paid later under conditions.
Ask how an excess withdrawal affects the income base and future payment. Also ask what happens if accumulation value reaches zero and which rider conditions govern any continued payments. Do not infer continued benefits from an income-base figure alone.
Complete the value map
Write the statement label, contract definition and purpose beside every value. Resolve an unexplained mismatch with the insurer before using the number in a retirement-income plan.
This worksheet does not select a rider or promise a payment. A tax professional should assess the actual distribution, and the insurer should confirm the contractual result of any proposed election.
Related reading
Start with the retirement planning overview. Continue with annuity bonus and vesting questions or browse the learning topics.
Browse federal benefits, retirement and insurance topics or read how we prepare and check our guides.
Sources
- NAIC: Buyer guide for deferred annuities (2022), checked November 4, 2026
- Investor.gov: Annuities, checked November 4, 2026
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