The gives the owner of a variable annuity the ability to withdraw a maximum percentage of the annuity value until the initial investment amount has been recouped.

D. Guaranteed minimum withdrawal benefit

Explanation:

In the case of the guaranteed minimum withdrawal benefit, the benefit is available for fixed annuity and for a variable annuity.

When the market is down, the policyholder can withdraw the maximum percentage of the annuity value unless the amount of initial investment recouped.  

Withdrawal amount should be between of five percent to ten percent of the initial investment held.

answer; /// i do believe that the correct answer is ; ///claude garamond;

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explanation: