All guarantees under the Schwab Retirement Income Variable Annuity are subject to the financial health and claims-paying ability of Pacific Life, not Schwab.The Guaranteed Lifetime Withdrawal Benefit (GLWB) is an optional rider available for an additional cost. The protected payment base is not a contract value and is not available for withdrawal like a cash value. Your actual contract value and death benefit will deplete with each withdrawal, though you may continue to withdraw the specified annual protected amount for life, even after the account value has been depleted to zero. Withdrawals in excess of the annual protected payment amount may permanently reduce the protected payment base.
All About Annuities (Infographic Courtesy Of Charles Schwab & Co., Inc. 0912-5784)
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