Guaranteed Minimum Withdrawal Benefit

Guaranteed Minimum Withdrawal Benefit

by Richard C. Wilson & Family Offices Group Association Team

Family Office Definition: Guaranteed Minimum Withdrawal Benefit

Guaranteed Minimum Withdrawal Benefit definition:  The guaranteed minimum withdrawal benefit is an optional rider for variable annuity contracts. Generally, elective withdrawals (outside of regular annuity distribution payments) result in penalty fees. This rider allows a maximum percentage to be liquidated without penalties each year, while the annuity account remains intact.  The withdrawal is intended to protect the account holder in years of investment losses to recoup the initial investment.

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