Oracle® Insurance Policy Administration 9.1.0.0.0 E15811-01

# Guaranteed Minimum Income Benefit

This optional feature, available for a fee, ensures that if someone purchases a variable annuity during one of the financial market peaks and ends up requiring retirement payments during one of the market’s troughs, he or she will still receive a predictable minimum level of retirement payments after a certain agreed-upon date. Should the underlying investments perform well, then the periodic payments may be higher than this guaranteed amount. To initiate the guaranteed minimum income benefit, the contract must first be annuitized.

You can add a GMIB segment to a policy by selecting Add Segments from the Secondary menu. Then select the GMIB segment, enter the necessary information and select Calculate.