The "Guaranteed Lifetime Withdrawal Benefit" (GLWB) is a rider or feature often added to annuity contracts, designed to provide policyholders with a guaranteed stream of income for life.
The "Guaranteed Lifetime Withdrawal Benefit" (GLWB) is a rider or feature often added to annuity contracts, designed to provide policyholders with a guaranteed stream of income for life.
With a GLWB, the annuitant can make periodic withdrawals from their annuity account, up to a specified limit, without depleting the principal amount.
Even if the account value drops to zero due to market fluctuations or consistent withdrawals, the guaranteed income continues for the lifetime of the policyholder.
One of the primary attractions of the GLWB is the balance it strikes between income security and investment flexibility.
The "Guaranteed Lifetime Withdrawal Benefit" (GLWB) is a rider or feature often added to annuity contracts, designed to provide policyholders with a guaranteed stream of income for life.
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