SunWise Elite Plus | Guaranteed Minimum Withdrawal Benefit (GMWB)

Guaranteed income protection for retired investors

DavidStory of David

At 66, David is about to retire. He invests $200,000 in SunWise Elite Plus and chooses the GMWB Lifetime Option.

David is guaranteed to receive an annual income of $10,000 for his lifetime. If his investments perform well his income may increase because automatic market resets every three years lock in investment gains.

The chart is a worst-case scenario for David. It assumes that markets decline sharply during his retirement. But even under these circumstances, when his portfolio is reduced to zero after 14 years, David is guaranteed to receive $10,000 for life.

The GMWB rider is designed to provide investors with guaranteed income for life beginning at age 65.* It eliminates the risk of investors outliving their retirement savings.

SunWise Elite Plus offers a guarantee in the form of regular withdrawals (LWA) of up to 5% of LWA Threshold Amount, regardless of the investment performance of the portfolio.

For those investors withdrawing income prior to age 65, SunWise Elite Plus offers a GWB Withdrawal Period Option in the form of regular withdrawals (GWA) of up to 5% of the initial deposit per calendar year until the Remaining GWB is reduced to zero; when the contract is terminated; on the contract maturity date; or upon the death of the last surviving annuitant.*

Guaranteed Income for Life*

Guaranteed Income for Life**

* Illustration assumes a 70% equity/30% fixed asset income mix (Equity is one-third each S&P/TSX Composite Index, S&P 500 Index, and MSCI World Index; income is DEX Universe Bond Total Return) and a bear markets declining on average 2% per year. Annual withdrawals are assumed to be 5% of the LWA Threshold Amount. Subject to legislative minimums and maximums and certain conditions.


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