y $8-$Hour CE Course, $3$rd Edition Certification Exam

Texas Annuity $8-$Hour CE Course, $3$rd Edition Certification Exam

Question #$28$ of $50$

Which of the following statements regarding a guaranteed lifetime withdrawal benefit $($GLWB$)$ rider is CORRECT?

A$)$ Under a GLWB rider, the owner can withdraw up to a specific percentage of the benefit base each year for life, but only as long as the total withdrawals do not exceed the benefit base.

B$)$ Under a GLWB rider, the owner can withdraw up to a specific percentage of the benefit base each year for life, but only as long as the contract value doesn't drop to zero.

C$)$ None of these statements are correct.

D$)$ Under a GLWB rider, the owner can withdraw up to a specific percentage of the benefit base each year for life even if the contract value drops to zero and the total withdrawals exceed the benefit base.

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