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Nirmala
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Penn Mutual Life Insurance Company
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Purchasing Power Protector Benefit - Enhanced Death Benefit
Edit Death Benefit
Death Benefit
Benefit Name
Internal Benefit Name
Inception Date
Closed Date
Rider Select Rule
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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
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DTCC Rider ID
Notes
Version Note
Benefit Description
Available during accumulation phase. Upon death of annuitant, on contract date, benefit base is equal to initial purchase payment made. Prior to first withdrawal, benefit base is greater of - 1) total purchase payments made, or 2) highest contract value calculated on any contract anniversary, until annuitant's age 80. On first withdrawal, benefit base is greater of - 1) contract value, or 2) highest contract value calculated on any contract anniversary, until annuitant's age 80. Death benefit is paid only if benefit base is greater than basic death benefit. Benefit base can never be more than $1,000,000. Issuer will step-up benefit base equal to contract value on each contract anniversary starting from contract anniversary following first withdrawal until age 80. If withdrawals are not excess withdrawals Issuer will reduce benefit base by dollar amount; if withdrawals are excess withdrawal, benefit base will be reduced by dollar amount for portion of withdrawal not defined as an excess withdrawal and in same proportion by excess withdrawal.
Other Info
Cancellation
Benefit may automatically terminate under certain conditions.
Termination
Benefit will automatically terminate upon termination of Purchasing Power Protector Benefit.
Available When Added
No longer available for new purchases.
Effect Change Ownership
Exclude Premium Bonus
Terminated
Single Life
Joint Life
Spousal Continuation Option
Spousal Continuation Option
Exception
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