GO
● Terminated
Greater of One-Year or 5% Enhanced Death Benefit with Long-Term Care/Nursing Home Waiver and Spousal Protection
Nationwide Life Insurance Company
DTCC ID
—
COMPANY
Nationwide Life Insurance Company
TYPE
Variable Annuity
INCEPTION
—
Identity
Benefit name
Greater of One-Year or 5% Enhanced Death Benefit with Long-Term Care/Nursing Home Waiver and Spousal Protection
Internal benefit name
Greater of One-Year or 5% Enhanced Death Benefit with Long-Term Care/Nursing Home Waiver and Spousal Protection
Product policy type
Variable Annuity
Status
● Terminated
Sequence
4
Inception date
—
Closed date
May 01, 2013
DTCC Rider ID
—
Last modified
Sep 20, 2019
Life & Age
Based on life
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
Subsequent purchase payment will increase benefit base by dollar-for-dollar amount.
Partial withdrawals
Withdrawals will reduce benefit base in same proportion.
Required min distributions
—
Coverage Flags
Exclude premium bonus
No
Spousal continuation option
Yes
Spousal continuation detail
Surviving spouse may elect to continue benefit after death of owner.
State Availability
Exception flag
No
Available in states
—
Benefit Description
Available during accumulation phase. Upon death of annuitant, benefit will be greatest of - 1) contract value, 2) total purchase payments adjusted for withdrawals, 3) highest contract value on any contract anniversary prior to annuitant's 86th birthday adjusted for withdrawals and subsequent payments, or 4) 5% interest anniversary value. 5% Interest Anniversary Value is equal to purchase payments adjusted for withdrawals, accumulated at 5% compound interest until last contract anniversary prior to annuitant's 86th birthday. Total accumulated amount may not exceed 200% of net purchase payments and amounts surrendered. Benefit also provides Long-Term Care/Nursing Home Waiver and Spousal Protection.
Lifecycle Events
Cancellation
Once elected may not be cancelled.
Termination
Once elected may not be terminated.
Available when added
Only at contract issue.