FAQs - InjAnnuity Inc.
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  • FAQs
    • Why InjAnnuity?
    • What can this website do for me?
    • What do Insurance Companies prefer that I don't get to know about?
    • What are the different types of Deferred Annuities supported by this Website? >
      • What is a "Fixed" Deferred Annuity?
      • What is a Fixed Indexed / Equity Indexed Annuity?
      • What is a Variable Annuity?
    • What Kind of Options can I exercise? >
      • What are Guaranteed Lifetime Benefits (GLIBs)? >
        • What is a Guaranteed Minimum Income Benefit (GMIB)?
        • What is a Guaranteed Minimum Accumulation Benefit (GMAB)?
        • What is a Guaranteed Minimum Withdrawal Benefit (GMWB)?
        • What is a Guaranteed Life Withdrawal Benefit (GLWB)?
        • What is the difference between an Annuitization and a GLWB or GMWB?
      • What is a contract's Surrender Value?
      • What are Free Withdrawals (also called Charge-Free Withdrawals)?
      • What is Annuitization?
      • What is a Rider?
    • Is a DA a good buy?
    • More Q&A >
      • Why is it called "Deferred"?
      • What is an "Account Value" (or "Accumulation Fund")?
      • What is a "Shadow Fund"?
      • What are "Surrender Charges"?
      • PV-Discounts
    • Longevity
    • Variable Tutorial
    • YouTube Playlist
  • Related Sites
    • DARMA™
    • Integrated Actuarial Systems, Inc
    • Corporate Risk Compliance, Inc.
What is a Guaranteed Life Withdrawal Benefit (GLWB)?
Q: What is a Guaranteed Life Withdrawal Benefit (GLWB)?
A: This kind of Benefit provides an income stream by allowing minimum Withdrawals from the Accumulation Value, without having to Annuitize. The Withdrawal amount is usually computed as a factor times the accumulation value. Alternatively, it can be based on the accumulation in a separate GLWB shadow Fund. The factor (usually 2-8%) is based on the gender and age of the Policyholder at time of election.

The key difference from regular Withdrawals is that when the accumulation value falls to zero due to these Withdrawals, the payments will continue anyway, until the death of the Policyholder. In addition, before the accumulation value is depleted, the Policyholder has access to the funds, which continue to earn interest. If the Policyholder dies, the then accumulation value will be paid to their beneficiary.

May be offered as a Rider.

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  • Home
  • FAQs
    • Why InjAnnuity?
    • What can this website do for me?
    • What do Insurance Companies prefer that I don't get to know about?
    • What are the different types of Deferred Annuities supported by this Website? >
      • What is a "Fixed" Deferred Annuity?
      • What is a Fixed Indexed / Equity Indexed Annuity?
      • What is a Variable Annuity?
    • What Kind of Options can I exercise? >
      • What are Guaranteed Lifetime Benefits (GLIBs)? >
        • What is a Guaranteed Minimum Income Benefit (GMIB)?
        • What is a Guaranteed Minimum Accumulation Benefit (GMAB)?
        • What is a Guaranteed Minimum Withdrawal Benefit (GMWB)?
        • What is a Guaranteed Life Withdrawal Benefit (GLWB)?
        • What is the difference between an Annuitization and a GLWB or GMWB?
      • What is a contract's Surrender Value?
      • What are Free Withdrawals (also called Charge-Free Withdrawals)?
      • What is Annuitization?
      • What is a Rider?
    • Is a DA a good buy?
    • More Q&A >
      • Why is it called "Deferred"?
      • What is an "Account Value" (or "Accumulation Fund")?
      • What is a "Shadow Fund"?
      • What are "Surrender Charges"?
      • PV-Discounts
    • Longevity
    • Variable Tutorial
    • YouTube Playlist
  • Related Sites
    • DARMA™
    • Integrated Actuarial Systems, Inc
    • Corporate Risk Compliance, Inc.