Life · Chapter 9 · Charges & Living Benefits
Guaranteed Minimum Accumulation Benefit (GMAB)
Definition
Guarantees the premiums paid will reach a minimum accumulation value after a set waiting period (net premiums typically × a factor of 1–3). Annuitization is NOT required to trigger it.
Easy to confuse with
These are what this term gets tested against — if you can't tell them apart cold, drill the contrast.
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