More VA Owners Are Tapping Their GLWBs For Retirement Income
October 31, 2017 by Cyril Tuohy
More people who own variable annuities with a guaranteed lifetime withdrawal benefit (GLWB) rider are choosing to use that benefit for its intended purpose – providing an income stream in retirement – a new study has found.
Nearly a quarter of those who own VAs with the GLWB rider elected to withdraw income at the end of the first half of 2017. That’s an increase of 2 percentage points over the last 18 months, the Ruark Consulting study found.