Guaranteed withdrawal benefit riders and lifetime income riders are features offered with some variable annuity contracts - and they can be quite appealing because they do just that; they guarantee lifetime income. (thebalance.com)
Product development last year was muted as low interest rates made it difficult for companies to tweak lifetime guarantee withdrawals, step up benefits and the adjust fees charged by insurers. (insurancenewsnet.com)
The Guaranteed Annual Withdrawal Amount (GAWA) is determined by multiplying any contribution (s) by the applicable Guaranteed Withdrawal Rate plus any transfer (s) multiplied by the applicable Guaranteed Transfer Withdrawal Rate, plus any GAWA Increase.1 (us.axa.com)