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What is a Guaranteed Lifetime Withdrawal Benefit?

A Guaranteed Lifetime Withdrawal Benefit is exactly what it sounds like - it provides the owner of the contract with the right to withdraw a guaranteed amount for the life of the annuitant.

Transamerica's GLWB - Five for Life™

We all dream of enjoying a comfortable retirement. However, with Canadians living longer than ever before and the cost of living increasing each year, meeting the financial challenges of retirement can seem like a daunting task.

Moreover, a significant market downturn near or during the early years of retirement can significantly reduce your retirement portfolio and the income it produces.

Transamerica's Five for Life™ has been designed to help you meet your income needs throughout your retirement by providing you with guaranteed annual income for life, starting as early as the year you turn 65, regardless of how the markets perform.*

Whether you are still saving for your retirement, are 65 years old and ready to start withdrawing an income today or looking for an innovative option for your RRIF, Five for Life may be right for you.

Features and benefits of Five for Life

> Guaranteed to provide a steady and predictable income for life, starting as early as the year the annuitant turns 65.*
> The potential to increase income through annual bonuses.
> The potential to lock in market gains through automatic resets.
> The option to increase your withdrawal rate if income is deferred to later years.
> 100% death benefit guarantee and 75% maturity guarantee.**
> Estate planning and potential creditor protection benefits available only from a segregated funds contract.
> Offers a choice of investment options managed by some of Canada's leading money managers.
> Ideal for investors nearing retirement who are focused on saving.
> Also ideal for those in retirement who are drawing income from their savings.

*Exceeding the withdrawal limits may have a negative impact on future payments. **Less proportionate reductions for withdrawals.