GMDB definition

GMDB prior to the first Contract Anniversary is equal to the Contributions made for a Participant minus any of his withdrawals or loans. On each Contract Anniversary prior to, or concurrent with, the Participant's date of death, the GMDB is reset, based on the age of the Participant on his last birthday, as follows:
View Source
GMDB means Guaranteed Minimum Death Benefit, a feature determined under a Contract Form listed in Schedule A.
View Source
GMDB. Annual ratchet GMDB (including the "0th" anniversary defined as the initial deposit) frozen at the contract anniversary preceding attainment of age 81, where the annual ratchet GMDB is reduced dollar-for-dollar for partial withdrawals up to the free-out amount (10% per year) and proportionally for any partial withdrawals exceeding the 10% free out amount. GMDB benefits are fully defined in the prospectus and related materials. GMDB TYPE 5 (MAV ON "CURRENT" CONTRACT FORMS) GMDB Type 5 coverage applies to "Current" contract forms (as described in Schedule A) sold through the A.G. Edwards distribution syst▇▇ ▇▇ ▇▇ ▇▇▇er June 1, 2003. GMDB: Annual ratchet GMDB (including the "0th" anniversary defined in the initial deposit) frozen at the contract anniversary preceding attainment of age 81, reduced proportionally for any partial withdrawals. GMDB benefits are fully defined in the prospectus and related materials. GMDB TYPE 6 (MODIFIED MAV ON "2003 GENERATION" CONTRACT FORMS) GMDB Type 6 coverage applies to "2003 Generation" contract forms (as described in Schedule A). GMDB benefits are as described below. GMDB: For attained ages up to 71, annual ratchet GMDB (including the "0th" anniversary defined in the initial deposit) frozen at the contract anniversary preceding attainment of age 71, where the annual ratchet GMDB is reduced dollar-for-dollar for partial withdrawals up to the free-out amount (10% per year) and proportionally for any partial withdrawals exceeding the 10% free-out amount. At attainment of age 71, the annual ratchet GMDB shall be frozen ("Frozen MAV GMDB"). For attained ages over 71, the greater of the "Frozen MAV GMDB" and The lesser of:
View Source

Examples of GMDB in a sentence

  • The indemnity cession shall be the share of the MNAR (defined in Article IV) that is generated, prior to the termination of the Reinsurer's liability (defined in Article II), by the Guaranteed Minimum Death Benefit ("GMDB") and Earnings Preservation Benefit ("EPB") provisions of the Reinsured Contracts, as specified in Schedule A.

  • The Cedent may propose for special acceptance hereunder Reinsured Contract liabilities that are not automatically ceded hereunder for Spousal Continuances for GMDB as discussed under Article V, Paragraph I, and contracts with certain issue dates as set forth in Schedule A, Paragraph B.

  • The total Reinsurance Premium for the business ceded hereunder is the sum of the GMDB Reinsurance Premium, the EPB Reinsurance Premium and the GMIB Reinsurance Premium, each of which is defined separately in this article.

  • The total GMDB Reinsurance Premium for the business ceded hereunder is the sum of the GMDB Reinsurance Premium and the EPB Reinsurance Premium, each of which is defined separately in this article.

  • The GMDB Reinsurance Premium is expressed in terms of basis points and is defined in Exhibit II.

  • This value shall be applied to the GMDB Cession Premium rates per premium class on a 1/12th basis.

  • The Cedent shall calculate, for each premium class, the Reinsurer's Percentage of the greater of the average aggregate GMDB value and the average aggregate account value for the reporting month.

  • Notwithstanding termination of reinsurance as provided herein, the REINSURER shall continue to be liable to the CEDING COMPANY for all unpaid GMDB CLAIMS reported prior to the date this Agreement is terminated, and the CEDING COMPANY shall continue to be liable to the REINSURER for all unpaid MONTHLY REINSURANCE PREMIUMS earned by the REINSURER under this Agreement until the date the Agreement is terminated.

  • This value shall be applied to the GMDB Reinsurance Premium rates per premium class on a 1/12th basis.

  • GUARANTEED MINIMUM DEATH BENEFITS (GMDB) ---------------------------------------- o Annual Step-Up Benefit for issue ages 0-79: Greater Maximum Anniversary Value to attained age 80; GMDB frozen thereafter.


More Definitions of GMDB

GMDB means Gulf Marine do Brazil, a Brazilian corporation.
View Source
GMDB. Annual ratchet GMDB (including the "0th" anniversary defined as the initial deposit) frozen at the contract anniversary preceding attainment of age 81, where the annual ratchet GMDB is reduced dollar-for-dollar for partial withdrawals up to the free-out amount (10% per year) and proportionally for any partial withdrawals exceeding the 10% free out amount. EPB: For issue ages 0-69, account value plus 40% of fund growth (fund growth limited to 200% of net purchase payments). For issue ages 70-75, account value plus 25% of fund growth (fund growth limited to 200% of net purchase payments). GMDB and EPB benefits are fully defined in the prospectus and related materials. GMDB TYPE 3 (EPB/APB ON "2003 GENERATION" CONTRACT FORMS) GMDB Type 3 coverage applies to "2003 Generation" contract forms (as described in Schedule A) in which contractholders have elected an optional Earnings Protection Benefit rider. GMDB and EPB benefits are as described below. GMDB: The lesser of
View Source
GMDB. Annual ratchet GMDB (including the “0th” anniversary defined in the initial deposit) frozen at the contract anniversary preceding attainment of age 81, reduced proportionally for any partial withdrawals. GMDB benefits are fully defined in the prospectus and related materials. GMDB Type 6 coverage applies to “2003 Generation” contract forms (as described in Schedule A). GMDB benefits are as described below. GMDB: For attained ages up to 71, annual ratchet GMDB (including the “0th” anniversary defined in the initial deposit) frozen at the contract anniversary preceding attainment of age 71, where the annual ratchet GMDB is reduced dollar-for-dollar for partial withdrawals up to the free-out amount (10% per year) and proportionally for any partial withdrawals exceeding the 10% free-out amount. At attainment of age 71, the annual ratchet GMDB shall be frozen (“Frozen MAV GMDB”). For attained ages over 71, the greater of the “Frozen MAV GMDB” and The lesser of:
View Source
GMDB. Annual ratchet GMDB (including the “0th” anniversary defined as the initial deposit) frozen at the contract anniversary preceding attainment of age 81, reduced proportionally for any partial withdrawals.
View Source
GMDB. Annual ratchet GMDB (including the “0th” anniversary defined as the initial deposit) frozen at the contract anniversary preceding attainment of age 81, where the annual ratchet GMDB is reduced dollar-for-dollar for partial withdrawals up to the free-out amount (10% per year) and proportionally for any partial withdrawals exceeding the 10% free out amount. GMDB benefits are fully defined in the prospectus and related materials.
View Source
GMDB. Annual ratchet GMDB (including the "0th" anniversary defined as the initial deposit) frozen at the contract anniversary preceding attainment of age 81, reduced proportionally for any partial withdrawals. EPB: For issue ages 0-69, account value plus 40% of fund growth (fund growth limited to 200% of net purchase payments). For issue ages 70-75, account value plus 25% of fund growth (fund growth limited to 200% of net purchase payments). GMDB and EPB benefits are fully defined in the prospectus and related materials. GMDB TYPE 2 (EPB/MAV ON "2003 GENERATION" CONTRACT FORMS) GMDB Type 2 coverage applies to "2003 Generation" contract forms (as described in Schedule A) in which contractholders have elected an optional Enhanced Death Benefit rider. The Enhanced Death Benefit Rider provides GMDB and EPB benefits are as described below.
View Source

Related to GMDB

  • NBOME means the National Board of Osteopathic Medical Examiners, an organization that prepares and administers qualifying examinations for osteopathic physicians.

  • MECOD refers to the Multiple Exchange Carriers Ordering and Design Guidelines for Access Services - Industry Support Interface, a document developed by the Ordering/Provisioning Committee of the OBF, which functions under the auspices of the CLC of ATIS. The MECOD document, published by ATIS as ATIS/OBF- MECAB- Issue 3, February 1993, establishes methods for processing orders for access service which is to be provided to an IXC by two or more telecommunications providers.

  • EDSP means the Exchange Delivery Settlement Price and has the meaning attributed to it in Rule PPPP.5.

  • MECAB refers to the Multiple Exchange Carrier Access Billing document prepared by the Billing Committee of the Ordering and Billing Forum “OBF”, which functions under the auspices of the Carrier Liaison Committee “CLC of the Alliance for Telecommunications Industry Solutions “ATIS”. The MECAB document, published by ATIS as ATIS/OBF- MECAB- Issue 6, February 1998, contains the recommended guidelines for the billing of access services provided to an IXC by two or more LECs, or by one LEC in two or more states within a single LATA.

  • obsrvd_agnt_cd ;"count erparty_identifier";"entty_rl";"cntrct_id";"instrmnt_id";" reporting_reference_date" Alpha-numeric Semicolon-separated string of all column names. Field names are put in double quotation marks. 1 reporting_agent_identifier Variable characters (60) 60 identifier domain 2 obsrvd_agnt_cd Variable characters (60) 60 identifier domain 3 counterparty_identifier Variable characters (60) 60 identifier domain 4 entty_rl Variable characters (25) 25 counterparty-instrument role type 5 cntrct_id Variable characters (60) 60 identifier domain 6 instrmnt_id Variable characters (60) 60 identifier domain 7 reporting_reference_date Date reporting reference date