What Is Gmib Variable Annuities?

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   David RacichPRO

   Fountain Hills, Arizona

   The acronym GMIB stands for guaranteed minimum income benefit. Not all variable annuities have GMIB option, but for those that do it can be like pouring a footing for the foundation of your variable annuity purchase if you need to annuitize it for lifetime income. Remember variable annuities are securities and you could lose money in the cash account, so buyer beware. 
    

   Answered on May 29, 2013

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