using the commissioners annuity reserve valuation method carvm augmented with option valuation techniques in accordance with actuarial guidelines 33 and 35 in many cases dependent on the guarantee and surrender charge structure of the product it may be possible to establish that the statutory reserve is equal to the product 39 s cash value which will already be carried on the insurer 39 s administrative system since it is needed for day to day administration thus the eia lifetime income benefit can be offered more easily on a profitable basis and has a number of operational advantages to the life insurance carrier as well as being attractive from the point of view of the buyer accordingly there is a growing consumer need for an eia that can provide guaranteed lifetime income in addition to the well known accumulation benefits and guarantees that eias typically provide as a direct consequence there is also a growing need among life insurance carriers for a computer based system that can determine reserves for such an eia and price it so that it can be provided on a profitable basis a lifetime income rider lir guarantees a minimum annual income for the owner during his or her lifetime it does this by guaranteeing an annual withdrawal amount that can be taken by the owner even if the annuity value has been exhausted the income amount is equal to a percentage of the highest annuity value on any anniversary once income has commenced although different designs can be constructed and priced using the.