Guaranteed Minimum Withdrawal Benefit

The Guaranteed Minimum Withdrawal Benefit product is a retirement plan that provides a lifetime guaranteed income regardless of the market conditions. What’s more is that with a GMWB, you are protected against downturns in the market, while still having the ability to benefit from market gains. Also, in the years prior to retirement, before you begin to make any withdrawals, you are guaranteed a 5% bonus return each year.

There are a number of factors that may threaten your financial security, including the possibility of outliving your retirement savings, market downturns, and the erosion of the purchasing power of your money caused by inflation. With a GMWB, you are protected against all of these uncertainties and risks, while still being able to participate in the growth of the market.

This pension-style product is ideal for professionals or self-employed business owners that don’t have a defined-benefit pension plan. If you are looking for a stress-free, safe retirement, with a predictable stream of income, then the GMWB product may be the right one for you.