"Lifetime withdrawal" refers to the process of taking out or using up something over the course of a person's entire life. It means that the withdrawal or consumption is expected to continue for as long as the individual lives. Full definition
A variable annuity purchased with an optional guaranteed lifetime withdrawal benefit provides a guaranteed stream of income for life. (brighthousefinancial.com)
If you want to keep control over the money you invest in an annuity, consider a variable annuity with a guaranteed lifetime withdrawal benefit rider. (investor.vanguard.com)
However, the smartest algorithms are optimized to balance the dual objectives of maximizing lifetime withdrawals and keeping the withdrawal amount within a consistent range year after year. (cnbc.com)