In five. years, you elect to begin receiving minimum. guaranteed withdrawals, but the cash value is worth. only $80,000 (due to poor subaccount performance). The withdrawal percentage (5%) is applied to your. premium ($100,000) since it is greater than the cash. value at the time of your election. Your minimum. guaranteed withdrawal is $5,000 per year ($100,000 x. 5%).*. Some issuers apply a minimum rate of return to your. premium (minimum income value) apart from your.
The main damage from flooding comes from the impact of rapid moving waters to your home. Flooding pushes the sides of your home, weakening your houseâs structure and at times separating it from your foundation. Additionally, flooding penetrates deep into the earth causing severe damage. Foundation pilings that arenât penetrating load-bearing strata can move, break, and shift due to flooding, causing intense foundational and structural damage. With more intense flooding comes more intense damage to your foundation. Water traveling at 10 miles an hour has the same force as wind traveling at 270 miles an hour. Even worse, debris and toxic chemicals carried by water can further damage the safety of your home.
A series of floods hit Queensland, Australia, beginning in December 2010. The floods forced the evacuation of thousands of people from towns and cities. At least 90 towns and over 200,000 people were affected. Damage initially was estimated at around A$ 1 billion before it was raised to $2.38 billion.