Step 1) Combine bouillon, sazon (if desired) and hot water; stir to dissolve and set aside.
Step 2) Heat oil in a large deep sided skillet over medium-high heat. Add rice and cook for 2 to 3 minutes or until the rice begins to turn slightly golden in color. Add onion, peppers, corn and garlic; stir to combine and cook for 2 minutes.
Step 3) Add prepared broth and lime juice to rice and bring to a boil. Cover; reduce heat to low and simmer for 18 to 20 minutes or until liquid is almost absorbed. Cover and remove from heat for 3 to 5 minutes. Fluff rice with a fork and stir in cilantro. Garnish with fresh lime peel or lime slices, if desired. (Rice may also be cooked in a rice cooker.)