Guaranteed Living Benefits for Variable Annuities

Overview

Are you confident that you can answer your clients' questions about guaranteed living benefits for variable annuities? This course provides a detailed study of these benefits, and explains the four most common GLBs: the guaranteed minimum accumulation benefit, the guaranteed minimum income benefit, the guaranteed minimum withdrawal benefit, and the guaranteed lifetime withdrawal benefit. The course covers the features of these benefits, how they work, and how they provide a measure of protection for variable annuity owners. Most importantly, the student will become familiar with the needs each GLB is designed to meet as well as the suitability issues that arise in connection with their recommendation.

The course concludes with three case studies that illustrate the suitable application of these unique benefits.

Learning Objectives

Upon completion, students will be able to:

• describe the types of guaranteed living benefits available to contract owners
• explain how insurers use a hypothetical benefit base to determine the amount of each guaranteed living benefit
• identify the concerns and suitability issues associated with the recommendation of a guaranteed living benefit
• describe the process by which a contract owner may access the various guaranteed living benefits

Designed for Life insurance and annuity producers, financial planners and advisors

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