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Nirmala
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Penn Mutual Life Insurance Company
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Growth & Income Protector Benefit - Death Benefit Enhancement
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
Select
Age
Contract year
Days
Months
Years
Version Begin Date
Maximum Benefit Base
Maximum Benefit Base %
With Reduce Benefit Base
Select
Dollar for Dollar
Proportionally
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 plus any purchase payment enhancement. Prior to first withdrawal, benefit base is greater of - 1) contract value increased by purchase payment made, accumulated at the rate of 3% annually, or 2) highest contract value calculated on any contract anniversary; until earliest of - a) 10th contract anniversary, b) annuitant's age 80, or c) first withdrawal. On first withdrawal, benefit base is greatest of - 1) contract value, 2) contract value increased by purchase payment made, accumulated at the rate of 3% annually, or 3) highest contract value calculated on any contract anniversary; until earliest of - a) 10th contract anniversary, b) annuitant's age 80, or c) first withdrawal. Owner may elect to step-up benefit base equal to contract value on any contract anniversary after 5th contract anniversary or most recent step-up date. 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
May be cancelled on any 5th anniversary.
Termination
Benefit automatically terminates upon earliest of - 1) annuitization, 2) surrender, 3) contract value reduces to zero, or 4) death.
Available When Added
Only at contract issue.
Effect Change Ownership
Exclude Premium Bonus
Terminated
Single Life
Joint Life
Spousal Continuation Option
Spousal Continuation Option
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