Annuities were first introduced during the Roman Times to provide a pension type payment to the dutiful Roman Soldiers and their families. Those payments were called "annuas," which is the origin of the word "annuity." To this day, annuities are the ONLY product on the planet that provides a lifetime income stream that you can't outlive. It's a monopoly that is exclusive to the annuity category.
Income Riders are attached benefits to deferred annuity policies that provide a guaranteed lifetime income at a future date of your choice. Income Rider values are a separate calculation from the accumulation value of the policy, and can only be used to calculate your first lifetime income payment.
Income Riders can be used in non-qualified (non-IRA) accounts, IRA accounts, and Roth accounts. The contractual guarantees are the same regardless of the account type used. The only difference is the taxation of the income stream.
Annuities are commodities, and attached Income Rider benefits are as well. You need to shop all carriers with the best annuity calculators to find the highest contractual guarantee for your specific situation. There's not a "best" income rider, but there is a "best" or highest number for your goals.
Income Riders typically come with an annual fee for the life of the policy, but that fee comes out of the accumulation value, not the Income Rider value.
Contact Stan The Annuity Man to get your personal annuity quotes using Stan's proprietary annuity calculators. You can receive Income Rider quotes in addition to every other annuity type quote available. You can also receive his 6 Annuity Owner's Manuals for free and under no obligation.