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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/bankers-life-introduces-enhanced-death-benefit-rider-for-guaranteed-lifetime-income-annuity-and-guaranteed-lifetime-income-annuity-plus-302703043.html
SOURCE Bankers Life and Casualty Company
