Can Excess Withdrawals Terminate ...
Can Excess Withdrawals Terminate a GLWB?

Retire For Less With The Annuity Expert by Shawn Plummer

Episode notes

If you purchased an annuity with a lifetime income rider, you have created a powerful safety net that guarantees you a paycheck for life. But what happens if an emergency pops up and you need to withdraw more than your allowed annual amount? Can taking extra cash actually terminate your benefits?

In this video, Shawn Plummer from The Annuity Expert answers exactly what happens when you take excess withdrawals from a GLWB (Guaranteed Lifetime Withdrawal Benefit). Shawn explains how pulling even a few thousand extra dollars can trigger a recalculation that permanently lowers your future income payments. Worse yet, if your account value has been depleted over the years and you pull out a massive lump sum, you could terminate the rider entirely and lose your guaranteed income for life!

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