LOMA $281$ Module $2$ Exam English

$11of20$

Mornis Defl owns a variable annulty contract that contains a guaranteed lifetime withdrawal benefit $(GLWB).$ This benefit guarantees

that a specified portion $ofMr.$ Dell's annuity will $be$ invested $in$ a fixed account rather than $in$ subaccounts

that $Mr.$ Dell can receive a minimum annuity payment amount annually based $on$ the annuitization $of$ the contract's benefit base

that $Mr.$ Dell can take annual withdrawals $of$ a specifled percentage $of$ a protected value for life without annuitizing the contract

that the annulty contract's death benefit will $be$ equal $to$ the greater $of$ elther $(a)$ the premiums paid, less any withdrawals $or(b)$

the contract's accumulated value