A rider on a variable annuity that allows minimum withdrawals from the invested amount without having to annuitize the investment. The amount that can be withdrawn is based on a percentage of the total amount invested in the annuity. |||In most cases, if you were to access the funds in the annuity you would have to either annuitize it, which creates regular distributions, or face fee penalties. The GLWB allows access to the invested capital, regardless of the performance of the investment, and continues to maintain and invest in the annuity. The percent of the allowable withdrawal will depend on the contract, but can be increased in most cases if the date at which the annuity payments begin is delayed.