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Quotes of the day:
Early morning hath gold in its mouth.
A Guaranteed Lifetime Withdrawal Benefit (GLWB) is a rider to a variable annuity contract that allows for withdrawals, either regular or occasional, to be made from an annuity during the accumulation phase without penalty. The annuitant pays for the GLWB rider with additional fees that are added to the total value of the annuity contract. The amount of money that is allowed to be withdrawn is a percentage of the total value of the annuity.
Guaranteed Lifetime Withdrawal Benefit - Guaranteed Lifetime Withdrawal Benefit Rider Explained
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