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Retirement Benefits Rider - Enhanced Death Benefit
Edit Death Benefit
Death Benefit
Benefit Name
Internal Benefit Name
Inception Date
Closed Date
Rider Select Rule
Default
Mandatory
Optional
Based On Life
Annuitant
Owner
Owner (or Annuitant if owner is a natural entity)
Owner (or Annuitant if owner is a non-natural person)
Owner and Annuitant
Min Age
Max Age
Waiting Period
Waiting Term
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Age
Contract year
Days
Months
Years
Version Begin Date
Maximum Benefit Base
Maximum Benefit Base %
With Reduce Benefit Base
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Dollar for Dollar
Proportionally
DTCC Rider ID
Notes
Version Note
Benefit Description
Upon death of owner, enhanced death benefit base will be equal to the greater of the 1) benefit base as of the date of death plus the Enhanced Death Benefit Partial Term Adjustment Amount; or 2) benefit base floor as of the date of death. The Enhanced Death Benefit Partial Term Adjustment Amount is equals to the Benefit Base Adjustment Participation Rate of 200% multiplied by the Dollar Amount of Interest. The Dollar Amount of Interest for the Fixed Account is the actual interest credited since the most recent anniversary to the date of death. The Dollar Amount of Interest for the Indexed Account is the portion of the index term elapsed as of the date of death multiplied by the dollar amount of interest that would apply in using the date of death as the term end date. The enhanced death benefit is payable in a series of equal payments over the enhanced death benefit payout period of 5 years. The Benefit Base is equal to the initial Benefit Base plus the Benefit Base Annual Net Adjustment Amount, less any adjustments for withdrawals. Initial Benefit Base is set on the rider issue date, including Benefit Base Bonus. Benefit Base can never fall below the Benefit Base Floor available under the rider. Initially the Benefit Base Floor is equal to the initial Premium amount, thereafter reduces by any partial surrenders. The Benefit Base Annual Net Adjustment Amount is equal to the Benefit Base Adjustment Participation Rate of 200% multiplied by the Net Interest Credit Dollar Amount. The Net Interest Credit Dollar Amount is calculated on each contract anniversary, reduced by any applicable strategy charges and rider charges, during the Benefit Base Adjustment Period. Benefit Base Adjustment Period is determined by the age of the covered person on the issue date. Benefit Base Adjustment Period is 20 years for issue ages 40 to 65; and reduces by 1 year for every 1 year increase in issue age, until reaching to the adjustment period of 15 years for issue ages 70 and above.
Other Info
Cancellation
Termination
Rider may not be terminated prior to the 1st contract anniversary.
Available When Added
At the time of electing Retirement Benefits Rider. If elected, no other benefits under the Retirement Benefits Rider is available.
Effect Change Ownership
Exclude Premium Bonus
Terminated
Single Life
Joint Life
Spousal Continuation Option
Spousal Continuation Option
Exception
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