Construct · 1 fields · 1 citations

guaranteed minimum withdrawal benefit: a standalone construct

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Actuarial science

a variable annuity rider guaranteeing that a set amount can be withdrawn each year until the premium is recovered, whatever the fund does.

In actuarial science, guaranteed minimum withdrawal benefit refers to a variable annuity rider guaranteeing that a set amount can be withdrawn each year until the premium is recovered, whatever the fund does. This meaning comes from Milevsky (2006) in Insurance: Mathematics and Economics.[1]

Unit
Recovery means
Measured by

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Nearby constructs

annuity3 fields · 4 citationsjingle · one word, three constructs premium4 fields · 4 citationsjingle · one word, four constructs variable4 fields · 4 citationsjingle · one word, four constructs

References

Milevsky, M. A., & Salisbury, T. S. (2006). Financial valuation of guaranteed minimum withdrawal benefits. Insurance: Mathematics and Economics, 38(1), 21-38. https://doi.org/10.1016/j.insmatheco.2005.06.012

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