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Variable Annuity
Death benefits
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Nirmala
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New York Life Insurance and Annuity Corporation
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Annual Death Benefit Reset Rider
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 only at the time of application, upon death of owner or annuitant, benefit will be greatest of - 1) Standard Death Benefit, 2) the ADBR reset value or 3) any other death benefit attached to the policy. ABDR reset value is calculated every year from reset anniversary until owner reaches age 85. On the first Policy Anniversary, the ADBR Reset Value is the greater of the Accumulation Value or the Return of Premium Death Benefit. On subsequent Reset Anniversaries, it is the greatest of the current Accumulation Value or the prior ADBR Reset Value, adjusted for premiums paid and any proportional reductions since the last reset. The rider is not available for Inherited Non-Qualified policies. In state CA & FL, change in ownership will not terminate the rider.
Other Info
Cancellation
Once elected can not be cancelled without surrendering policy.
Termination
Benefit will terminate upon earliest of 1) annuitization, 2) surrender, 3) change in ownership or 4) contract termination.
Available When Added
Only at contract issue.
Effect Change Ownership
Change in ownership will result in termination of rider.
Exclude Premium Bonus
Terminated
Single Life
Joint Life
Spousal Continuation Option
Spousal Continuation Option
Exception
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