Home / Guaranteed Minimum Income Benefit

What is a Guaranteed Minimum Income Benefit?

Variable annuities come with a host of optional features that you can select for an additional annual fee. One common and very popular type of variable annuity feature is the guaranteed minimum income benefit, also known as a GMIB. The GMIB is exactly what the name implies — a guaranteed minimum level of annuity payments by the insurance company, regardless of the performance of your annuity.

Continue


ANNUITY FYI’S TOP GMIB RIDERS

Company Product Name
metLife_logo GMIB Max: Guaranteed Minimum Income Benefit Rider
axa-life-insurance GMIB: Guaranteed Minimum Income Benefit Rider (Accumulator Series)
axa-life-insurance GIB: Guaranteed Income Benefit Rider (Retirement Cornerstone Series)
Click Here for Complete List…

FROM OUR BLOG

The Advantages of Waiting to Purchase Your Annuity

There are many advantages in including an annuity as part of your retirement portfolio, the most attractive being guaranteed income …

Experts Agree: Now is the Time to Assess Portfolio Allocations

The stock market is off to a strong start in 2018, which is exactly why some financial advisors are suggesting …

Annuity Vs. Drawdown: The Debate Continues

One of the most challenging questions often asked by people approaching retirement has to do with the best way to …

ADVISOR INSIGHT

“A Guaranteed Minimum Income Benefit (GMIB) is an optional rider which can be added to a fixed indexed or variable annuity for a cost, usually about 1.00% per year paid in the form of reduced performance. With a GMIB added to your annuity, you have the ability to annuitize your GMIB value later in life should the underlying performance of the policy not be enough to provide for your retirement income needs. In short it guarantees lifetime income in case your selected funds underperform or even lose all value. It’s an income benefit that you absolutely cannot outlive as it’s guaranteed for life.”

Thomas Burgess Hamlin

Thomas Burgess Hamlin, Financial Advisor

Annuity FYI Expert

ARTICLES & GUIDES

Criteria for Evaluating GMIB Annuities

Criteria for Evaluating GMIB Annuities

When evaluating the numerous guaranteed minimum income benefit GMIB annuity products on the market…

Product
TESTIMONIAL
5/5 Stars

Thank you for the time you spent talking with me. I do respect and admire your knowledge and expertise.

Share Button

Annuityfyi.com - Prefooter

× Popup Banner

FIA GUIDE

5 keys to making the right decision

  • *All fields required

Not Today
× Popup Banner

Discover How to Control Your Financial Future

FREE Download and Newsletter

FIA Guide: 5 Keys to Making the Right Decision

  • Required

Not Today
× Popup Banner

Avoid Costly Mistakes When Picking Your Annuity

FREE Download and Newsletter

FIA Guide: 5 Keys to Making the Right Decision

  • Required

Not Today
Share On Facebook
Share On Twitter
Share On Google Plus
Share On Linkedin
Share On Pinterest