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Morris Dell owns a variable annuity contract that contains a guaranteed lifetime withdrawal benefit ( GLWB ) . This benefit guarantees that a specified portion

Morris Dell owns a variable annuity contract that contains a guaranteed lifetime withdrawal benefit (GLWB). This benefit guarantees
that a specified portion of Mr. 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 specified percentage of a protected value for life without annuitizing the contract
that the annuity contract's death benefit will be equal to the greater of either (a) the premiums paid, less any withdrawals or (b) the contract's accumulated value
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