Guaranteed Lifetime Withdrawal Benefit (GLWB)

Guaranteed Lifetime Withdrawal Benefit (GLWB),

Guaranteed Lifetime Withdrawal Benefit (GLWB): What is the Meaning of Guaranteed Lifetime Withdrawal Benefit (GLWB)?

1. Guaranteed Lifetime Withdrawal Benefit (GLWB) refers to The Lifetime Annual Guarantee (GLWB) is a supplement to a variable annual contract that allows regular or occasional retirement payments without penalty during the savings phase. Beneficiaries pay an additional fee to the GLWB driver which is included in the total annual contract amount. The amount that can be withdrawn is one percent of the total pension amount.

   • Guaranteed Lifetime Retirement Benefit (GLWB) is a passenger that can be included in a variable annuity that guarantees an annual income.
   • Under the terms, GLWB may increase if the investment is linked to a variable portion of the pension increase.
   • These clauses are usually optional and incur additional costs and fees, but allow the variable annually to have certain aspects.

2. Meaning of Guaranteed Lifetime Withdrawal Benefit (GLWB): A feature that is sometimes offered in annual contracts, where the insurer allows you to withdraw a certain amount from an account. This benefit can be used for the rest of your life, to live with others (for example, your partner) or for a certain period of time. Refunds are possible even if the account balance is zero. This benefit is also known as guaranteed minimum benefit.

Literal Meanings of Guaranteed Lifetime Withdrawal Benefit (GLWB)

Guaranteed:

Meanings of Guaranteed:

1. For this reason, formally guaranteed guarantees are provided.

Lifetime:

Meanings of Lifetime:

1. The length of a person's life.

Sentences of Lifetime

1. Rewards for lifetime achievements

Synonyms of Lifetime

one's time, life, duration of life, lifespan, days, time on earth, existence, allotted span, one's career, course of life, one's threescore years and ten, this mortal coil

Withdrawal:

Meanings of Withdrawal:

1. The process of removing something.

Sentences of Withdrawal

1. Return of free legal aid.

Synonyms of Withdrawal

removal, taking away

Benefit:

Meanings of Benefit:

1. Payments or gifts from employers, governments or insurance companies.

2. Public performances or other entertainment whose proceeds go to some charitable cause.

Sentences of Benefit

1. Enjoy the benefits of subscription.

2. Social assistance benefits

3. The season of fraternity is marked by dancing and profit discounts for newcomers.

4. The area will benefit from regeneration.

Synonyms of Benefit

benefit payments, gain, sick pay, make money, reap benefits, advantage, satisfaction, sake, welfare, pension, public assistance allowance, interest, state benefit, ease, unemployment benefit, insurance money, well-being, good, enjoyment, convenience, profit, social security payments

source https://howtodiscuss.com/t/guaranteed-lifetime-withdrawal-benefit-glwb/73133/1