Examples of Guaranteed Minimum Withdrawal Benefit (GMWB)

Example 1: In the Saving Phase

• Policyholder initial investment: $80,000
• Guaranteed Withdrawal Balance at time of insolvency: $100,000
• No withdrawals have been made by the policyholder in the last twelve months

Guaranteed Withdrawal Balance at Date of Insolvency	Explanation	Adjusted Guaranteed Withdrawal Balance
$100,000	Since the amount is higher than $60,000, the 85% protection is applied to the Guaranteed Withdrawal Balance. ($100,000 x 85% = $85,000)	$85,000

Example 2: In the Payout Phase

• Policyholder initial investment: $80,000
• Guaranteed Withdrawal Balance at time of insolvency: $100,000
• Guaranteed Income Benefit: $5,000/year
• A withdrawal has been made by the policyholder in the last twelve months

Guaranteed Income Benefit at Date of Insolvency	Explanation	Adjusted Guaranteed Income Benefit
$417 / month ($5,000 / year)	Since the amount is below $2,000/month, the Guaranteed Income Benefit is fully protected.	$417 / month ($5,000 / year)

If the liquidator, appointed to manage the company failure, achieves a greater return on the policy than the Assuris protection, your benefits will be adjusted to the greater of either:

• The Assuris protection or;
• The amount recovered by the liquidator.