Installment Death Benefit (Compact States)

The Installment Death Benefit Rider is automatically included at issue, offering the participant the option to receive death benefits in installments instead of a lump sum. Payments begin within one year of the Owner’s death and are paid from the Income Base, which may exceed the account value at the time of death. Once elected, the installment option is irrevocable and paid in equal parts from the Income Base. The benefit is not available during the Installment Option Waiting Period.
However, the Installment Death Benefit will never exceed the Maximum Death Benefit as described in this Rider. This benefit includes a 5-year payment period, with a $100 minimum payment, and a maximum increase age of 100. The Maximum Death Benefit is determined by a 125% surrender value factor, 10% growth rate and 250% ultimate factor.