Ten years before the target date of the selected fund, the guaranteed minimum withdrawal benefit for life is automatically activated for an annual fee of 1% of the account value.
What does GMWB stand for?
GMWB stands for Guaranteed Minimum Withdrawal Benefit
This definition appears frequently and is found in the following Acronym Finder categories:
- Business, finance, etc.
- Globally Minded Works, Inc (Guatemala social enterprise)
- Good Morning Washington (TV Program)
- Gordon-Mills-Welch (geometric sequence)
- Gram Molecular Weight
- Grand Mexican Warlock (band)
- Greater Manchester Waste Limited (UK)
- Ground-Based Midcourse, World (Wide)
- Gloucester Muslim Welfare Association (UK)
- Gospel Music Workshop of America, Inc.
- Gag Me with a Spoon
- Green Money Weed Connection (cartoon rap group)
- Greater Manchester Waste Disposal Authority (UK)
- Greater Manchester Workforce Development Confederation (UK)
- Green Mountain Water Environment Association (Vermont)
- Greatest Man Who Ever Lived
- Gender Mainstreaming Working Group (Tanzania)
- Genetyka Molekularna W Hodowli (Polish: Molecular Genetics In Breeding)
- Gospel Music Workshop of Italy
- Global Meteoric Water Line
- Greater Manchester Weekly Newspapers (UK)
Samples in periodicals archive:
It is important to understand that Income Plus For Life is an optional guaranteed minimum withdrawal benefit (GMWB) available with Venture Variable Annuity contracts and cannot be elected without purchasing the annuity contract.
Kannenberg sought help from Jarvis, who showed him a Prudential annuity with a guaranteed minimum withdrawal benefit.
The products, with names like guaranteed minimum income benefit (GMIB) and guaranteed minimum withdrawal benefit (GMWB), fall into two categories.
One of the most common guarantees is a guaranteed minimum withdrawal benefit.
Features on the Ovation II GLWB rider include: * Six percent compound benefit base enhancement, one of the highest in the industry among guaranteed minimum withdrawal benefits available on B Class, non-group, open contracts as of 3/31/2012, according to Morningstar Annuity Research Center.
The scope of the survey covered four types of GLBs that are generally offered in the VA marketplace: Guaranteed Minimum Income Benefits (GMIB), Guaranteed Minimum Withdrawal Benefits (GMWB), Guaranteed Lifetime Withdrawal Benefits (GLWB), and Guaranteed Minimum Accumulation Benefits (GMAB).
CoreIncome Advantage, a guaranteed minimum withdrawal benefit for life, provides predictable retirement income regardless of market ups and downs.