Compare Lifetime Withdrawal Benefit (LWB) Annuity Riders

Ohio National’s GLWB Plus Riders offer a highly competitive 4.25% - 7%² annual withdrawal for life. Withdrawals are based on 8% annual simple interest growth on the rider base for each of the 1st 10 contract years with no withdrawal, or the highest contract anniversary value.

We give this LWB rider our Top Pick for three reasons. First, it offers the highest lifetime withdrawals we have found at this cost and with companies of similar financial strength ratings. Second, if you step-up to a higher anniversary value, the 8% annual growth opportunity restarts for another 10 years (most LWB riders only grow for 10 years) and will then be based on the new, higher stepped-up amount. As a result, your withdrawal base could be significantly higher than with other riders with higher rates, but guaranteed for only 10 years.⁴ And finally, the rider utilizes an asset allocation strategy called Managed Volatility Portfolios designed to protect against market swings and produce more consistent returns over time.

Ohio National's GLWB Riders offer a standard 4%-6.5%² annual withdrawal for life. Withdrawals are based on 8% annual simple interest growth on the rider base for each of the 1st 10 contract years with no withdrawal, or the highest contract anniversary value.

But what sets this rider apart from many other LWBs is that if you step-up to a higher anniversary value, the 8% annual growth opportunity restarts for another 10 years (most LWB riders only grow for 10 years) and will then be based on the new, higher stepped-up amount. As a result, your withdrawal base could be significantly higher than with other riders with higher rates but guaranteed for only 10 years.⁴ Contact an Annuity FYI Expert for examples.

Transamerica's LWB rider offers a fairly standard 3.5-6%² annual withdrawal for life, and withdrawals can be based on the greater of a fairly standard 5% annual compounded growth for the 1st 10 contract years¹or automatic monthly step-ups for life.

There are two unique features of this LWB rider that we like. First, the automatic step-ups can occur monthly and are for life (most riders step up up annually). Second, for an additional rider fee, the withdrawal percentage doubles if annuitant or spouse is in a hospital or nursing facility for more than 180 days (restrictions apply -- see the prospectus or contact an Annuity FYI Expert).

This LWB rider offers a fairly standard 4-7%² annual withdrawal for life.

There are two unique features of this rider. First, withdrawals are based on the greater of 5-7% annual growth for the 1st 10 contract years¹or the highest contract quarterly or annual anniversary value -- you can choose the growth % and whether you want annual or quarterly step-ups (fees vary based on which options you choose). Second, if you step up to a higher anniversary value, the annual growth opportunity restarts for another 10 years.

This LWB rider offers a fairly standard 2.5-6%² annual withdrawal for life, and withdrawals can be based on the greater of a fairly standard 5% daily compounded growth and automatic step-ups.

We like that the automatic step-ups can occur daily if daily gains exceed 5% annualized (most riders step up annually).

This LWB rider offers a fairly standard 3.75-5%² annual withdrawal for life, and withdrawals can be based on a the greater of a fairly standard 5-6%² annual growth for the 1st 10 contract years¹prior to age 95 or the highest contract anniversary value.

We like that the step-ups are offered through an advanced age of 95.

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This rider offers a choice between a fairly standard 4 or 5% annual withdrawal for life starting at age 59 1/2. Withdrawals can be based on the highest contract anniversary value.

While there is no guaranteed compounding, we like that this rider is offered at a very low cost.