Q: What is a Guaranteed Minimum Income Benefit (GMIB)?
A: A GMIB is designed to provide the Investor with a base amount of lifetime income when they retire, regardless of how the annuity has performed. It guarantees that if the owner decides to Annuitize, that the income payments are based on the amount invested, credited with a specified minimum interest rate.
May be offered as a Rider.
A: A GMIB is designed to provide the Investor with a base amount of lifetime income when they retire, regardless of how the annuity has performed. It guarantees that if the owner decides to Annuitize, that the income payments are based on the amount invested, credited with a specified minimum interest rate.
May be offered as a Rider.