What does GMIB stand for?

Guaranteed Minimum Income Benefit (Insurance)

This definition appears very rarely and is found in the following Acronym Finder categories:

Business, finance, etc.

Other Resources:

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Samples in periodicals archive:

Improving equity markets helped Cigna in the second quarter with its discontinued guaranteed minimum income benefits and variable annuity death benefits businesses.

Earnings Preview: Cigna to report 3Q earnings

The annuity and rider generated a guaranteed minimum income benefit of 5.

New environment, new solutions: the market meltdown has financial ...

The products, with names like guaranteed minimum income benefit (GMIB) and guaranteed minimum withdrawal benefit (GMWB), fall into two categories.

THE DOWNSIDE OF MARKET-PROOF ANNUITIES

Annuity insurance margins improved from the first quarter after a significant release of guaranteed minimum income benefit (GMIB) and guaranteed minimum death benefit (GMDB) reserves as exposure diminished and as a result of improved fund performance.

The Phoenix Companies, Inc. Reports Second Quarter 2009 Results:

The company incurred a $44 million loss, or 47 cents per share, from two parts of that business: variable annuity death benefits and guaranteed minimum income benefits.

Cigna reports 53 percent drop in 3Q profit

Ohio National Financial Services in November 2006 strengthened its ONcore VA rider lineup with two new Guaranteed Minimum Income Benefit Plus riders and an Annual Reset Death Benefit Rider.

New options in annuities

has added a new variable annuity to its Accumulator Series by adding a guaranteed withdrawal benefit for life to the product line's traditional guaranteed minimum income benefit, The withdrawal benefit begins at 4% to 7% of the benefit base, and the base grows in the 10-year period before withdrawals at no less than 5% a year.

New twists on living benefits

The negative outlook reflects the decline in income in 2008, which was driven by the impact from the declining equity markets that resulted in charges in the company's run-off reinsurance products, guaranteed minimum income benefit (GMIB) and guaranteed minimum death benefit (GMDB).

A.M. Best Assigns Ratings to CIGNA Corporation's Senior Unsecured ...