This guide walks through how to set up an annuity with a GMIB (Guaranteed Minimum Income Benefit) rider in Voyant and how that choice flows through the plan.

1. Adding the Variable Annuity

Step 1 — Open the Add Menu

1. Click the Plus (+) button in the bottom-right corner of AdviserGo.

2. Select Retirement.

3. Choose Variable Annuity.

Step 2 — Enter Basic Annuity Details

For this example, we’ll enter Maverick’s existing qualified annuity.

Enter the following:

• Current Balance: 250,000

• Surrender Period: 10 years

• Death Benefit: 150,000

• Step-Up Period: None

• Ongoing Contributions: None

• Growth Rate: 6% (or select a custom portfolio)

• Fees: 2%

• Beneficiary: Outside the plan

2. Entering GMIB Rider Details

Scroll to the GMIB section and toggle the rider On.

Enter the rider information:

• Benefit Balance: Enter the GMIB benefit base value

• Interest Rate: Enter the guaranteed rate

• Inflation Method: Choose Simple or Compound

• Guaranteed Period: Lifetime

• Step-Up Period: None

This enables lifetime guaranteed withdrawals based on the GMIB formula rather than the annuity’s cash value.

3. Setting Up Annuitization (Optional) 

Scroll to the Annuitization section and toggle it On.

For this example:

• Annuitize at Age: 70

• Payout Type: Lifetime with 20 years certain

• Escalation: None

• Payout: Single Life (Maverick is not married)

• Interest Rate: 4%

This schedules the conversion of the annuity into an income stream beginning at the designated age.

4. Triggering GMIB Withdrawals

Step 1 — Add a Withdrawal Event

1. Go to Planned Withdrawals.

2. Click Add Withdrawal.

Step 2 — Select Withdrawal Type

• Under Type, choose Annual GMIB Withdrawal.

Other available options:

• Fixed Amount

• Inflation-Adjusted Amount

• Percentage withdrawals
  (These are used when drawing from the cash value rather than the GMIB base.)

Step 3 — Configure Timing

1. Mark the withdrawal as Recurring.

2. Select Update Timing.

3. Align the withdrawals with the annuitization event if you are choosing to annuitize. 

4. Set withdrawals to continue until the end of the plan.

Click Done to save.

What You’ll See Under Details

Turn on the Details toggle to view:

• GMIB rider activation

• Annuitization beginning at age 70

• Annuity income payments starting at age 71 and continuing through the end of the plan

5. Viewing the Results

Year View

1. Navigate to Year View.

2. Scroll to Age 71 to see annuitization reflected in the cash flow.
   You will see annuity income displayed along with Social Security and other income sources.

Retirement Tab

In the Retirement tab, you can view annuity-specific details.

Once the annuity is annuitized:

• It is treated as an income stream, not an asset.

Assets Tab

• Before annuitization: The variable annuity appears under Assets.

• After annuitization: The annuity is removed from Assets and instead appears purely as an income stream reflected in cash flow.

Summary

By following these steps, AdviserGo will correctly model:

• The variable annuity

• The GMIB rider

• Guaranteed withdrawals

• The annuitization event

• Transition from asset → income stream

This provides a complete and accurate projection of how the annuity functions throughout the client’s retirement plan.