HP
● Active
High Point Select Enhanced Death Benefit Rider
Nationwide Life and Annuity Insurance Company
DTCC ID
—
COMPANY
Nationwide Life and Annuity Insurance Company
TYPE
Indexed Annuity
INCEPTION
Mar 08, 2021
Identity
Benefit name
High Point Select Enhanced Death Benefit Rider
Internal benefit name
High Point Select Enhanced Death Benefit Rider
Product policy type
Indexed Annuity
Status
● Active
Sequence
2
Inception date
Mar 08, 2021
Closed date
—
DTCC Rider ID
—
Last modified
Aug 30, 2022
Life & Age
Based on life
Owner and Annuitant
Single life
No
Joint life
No
Min age
—
Max age
—
Rider select rule
Optional
Waiting period
—
Waiting term
—
Benefit Base
Maximum benefit base
—
Maximum benefit base %
—
With reduce benefit base
—
Subsequent premium
—
Partial withdrawals
—
Required min distributions
—
Coverage Flags
Exclude premium bonus
No
Spousal continuation option
Yes
Spousal continuation detail
Surviving spouse may elect to continue the contract after the death of the owner. If death benefit is paid out then, surviving spouse will receive greater of the 1) basic death benefit; or 2) High Point EDB value. If continued and the death benefit value under High Point EDB is greater than the contract value, then the contract value is stepped up to the High Point EDB value and no longer subject to CDSC or MVA.
State Availability
Exception flag
No
Available in states
—
Benefit Description
Benefit is greater of 1) basic death benefit or 2) high point enhanced death benefit (EDB) value. High Point EDB value is greater of 1) highest DAV until the contract anniversary following annuitant's 80th birthday or 2) minimum enhanced death benefit value (MEDB). On the rider effective date, the Highest DAV is equal to the purchase payment, plus the purchase payment bonus if purchase payment bonus is elected. MEDB value is earliest of purchase payment compounded at 4% per year up to 200% cap or until contract anniversary after annuitant reaches age 80.
Lifecycle Events
Available when added
Only at contract issue