The "Guaranteed Minimum Death Benefit" (GMDB) is a feature commonly found in variable annuity contracts, ensuring that beneficiaries receive a predetermined minimum amount upon the death of the annuitant.
The "Guaranteed Minimum Death Benefit" (GMDB) is a feature commonly found in variable annuity contracts, ensuring that beneficiaries receive a predetermined minimum amount upon the death of the annuitant.
This guarantee ensures that, regardless of the annuity's investment performance or any withdrawals made, the death benefit will not fall below a specified level.
In essence, the GMDB acts as a safety net, protecting beneficiaries from potential market downturns that might erode the annuity's value. For annuity holders, the appeal of the GMDB lies in the peace of mind it offers.
The "Guaranteed Minimum Death Benefit" (GMDB) is a feature commonly found in variable annuity contracts, ensuring that beneficiaries receive a predetermined minimum amount upon the death of the annuitant.
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