Variable annuities’ investment performance mirrors equity markets. To mitigate downside risks, contract owners use guaranteed living benefits (GLBs). This course details four common GLBs: guaranteed minimum accumulation, income, withdrawal, and lifetime withdrawal benefits. It covers their features, functions, and protections, and addresses the needs they meet and suitability issues.

• 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

Life and health insurance producers and finance professionals