Did you buy an annuity with a lifetime income or long-term care rider, and now you want to change it? Are you permanently locked into that decision, or can you swap it out for something better?

In this video, Shawn Plummer from The Annuity Expert gives a candid, off-the-cuff explanation of what you can (and absolutely cannot) do with your annuity riders after the contract is issued. The honest answer? It is a giant "maybe."

Shawn breaks down the critical difference between "inbuilt" riders (which are permanently baked into your contract and cannot be removed) and "optional" riders (which you can usually cancel at any time). However, if you are looking to swap one income rider for another version midway through your contract, you are likely out of luck! Shawn also reveals a rare exception in the industry—like specific Lincoln products— ...