GLWB

AcronymDefinition
GLWBGuaranteed Lifetime Withdrawal Benefit (retirement investing)
GLWBGwich'in Land and Water Board (Canada)
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References in periodicals archive ?
Huang and Kwok (2014) study the impact on GLWB value of different policyholders behaviors through stochastic control models, and the authors offer an empirical investigation of the effects of the surrender on the value of the GLWB established in the VA market.
WHAT IF VARIABLE ANNUITY POLICYHOLDERS WITH GUARANTEED LIFELONG WITHDRAWAL BENEFIT WERE RATIONAL?
When a GLWB is combined with an indexed annuity product, the client may be able to maximize the level of income he or she can draw from the product package--with a lower premium payment rate than what might be required when a GLWB is paired with a different type of annuity.
Fixed Indexed Annuities to Dominate 2017 Annuity Marketplace
The guaranteed lifetime withdrawal benefit (GLWB) guarantees that a certain percentage (typically 3 percent to 5 percent, often based on age) of the amount invested can be withdrawn each year for as long as the contract holder lives.
6 guaranteed minimum living benefit riders
* With a GLWB, the participant is guaranteed to receive a specified lifetime stream of income, regardless of the investment performance of the account, while still retaining access to the funds in the account.
Income annuities in employer retirement plans
But whether clients opt for Security Benefit's solution or one from a different provider, there is growing body of evidence to suggest that making a fixed indexed annuity offering a GLWB part of an asset allocation strategy will yield greater retirement income than without the rider.
Reversal of fortunes
A retail version of the GLWB might include minimum annual increases and index credits, while the institutional version has only an annual step-up feature, allowing the participant to see an increase in his guaranteed withdrawal amount if his account value increases above his benefit base.
The Sunny Side
In this case, the company issuing the annuity wanted to make annuity products with GLWB riders more attractive by allowing the non-spouse beneficiary to continue the contract without worrying about making excess withdrawals that could reduce the guaranteed amount that would otherwise be payable over his or her lifetime.
Annuities
Typically, a candidate for an annuity with a GLWB rider would be between 65 and 72, with enough income from other sources to cover most of their expected needs over the next 10 years, Lofton says.
Guaranteed Lifetime Withdrawal Benefits: here today ... gone tomorrow? GLWBs are popular with consumers, but variable annuity carriers are having a difficult time estimating those payouts far into the future in a low interest rate environment
The GLWB rider is automatically added to the product at no additional charge.
Oxford Life, annuity
In the light of the growing importance of this market, in this paper we present a pricing model and define a fair price for a GLWB in a market consistent manner.
Withdrawal strategy for guaranteed lifelong withdrawal benefit option
Although the GLWB guarantees an income stream that may appear similar to annuitization, there are substantial differences between withdrawals and annuitization.
Guaranteed minimum withdrawal benefit
Prudential Annuities, Prudential Financial's domestic annuity business, in January increased its Highest Daily Lifetime Five GLWB to Seven.
Annuity writers adding options
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