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Variable Annuity
Death benefits
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Nirmala
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North American Company for Life and Health
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Guaranteed Minimum Death Benefit
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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
Available during accumulation phase. Upon death of owner or annuitant, benefit will be greater of - 2) standard death benefit or 2) GMDB Amount. Standard Death Benefit is equal to the contract value and also includes any interest credits for a partial contract year or biennial index term based on the date of death. GMDB Amount is equal to 100% of Premiums (including subsequent premiums) plus GMDB Bonus and GMDB Stacking Roll-Up Credits, adjusted for withdrawals. GMDB Bonus is 5% and will apply to the GMDB Amount on all premiums (excluding premium bonus) received in the first five contract years. GMDB Stacking Roll-Up Credit may be added to the GMDB Amount until age 85. On contract anniversary, the current GMDB Amount may be increased by 2.75% of the GMDB Amount plus the dollar amount of any interest credited to the accumulation value during the preceding year. The GMDB Stacking Roll-Up Credit percentage is set at issue, guaranteed never to decrease and compounds annually. The GMDB Amount will never exceed the maximum amount of 210% of premiums (excluding premium bonus).
Other Info
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Effect Change Ownership
Exclude Premium Bonus
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Single Life
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Spousal Continuation Option
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