SD
● Active
Standard death benefit (Return of Premium)
Nationwide Life Insurance Company
DTCC ID
—
COMPANY
Nationwide Life Insurance Company
TYPE
Variable Annuity
INCEPTION
Jun 11, 2012
Identity
Benefit name
Standard death benefit (Return of Premium)
Internal benefit name
Standard death benefit (Return of Premium)
Product policy type
Variable Annuity
Status
● Active
Sequence
1
Inception date
Jun 11, 2012
Closed date
—
DTCC Rider ID
—
Last modified
May 05, 2026
Life & Age
Based on life
Annuitant
Single life
No
Joint life
No
Min age
—
Max age
—
Rider select rule
Mandatory
Waiting period
—
Waiting term
—
Benefit Base
Maximum benefit base
—
Maximum benefit base %
—
With reduce benefit base
—
Subsequent premium
None.
Partial withdrawals
Withdrawals will reduce benefit base in same proportion.
Required min distributions
None.
Coverage Flags
Exclude premium bonus
No
Spousal continuation option
Yes
Spousal continuation detail
This contract comes up with Spousal Protection feature, with which surviving spouse has an option to continue the contract even after the death of other spouse. However upon election of such feature the contract value (if lower) will be adjusted to the death benefit value.
State Availability
Exception flag
No
Available in states
—
Benefit Description
Available during accumulation phase and is also known as a Return of Premium Death Benefit (ROP). Upon death of annuitant prior to annuitization date and the total of all purchase payments is less than or equal to $3 million, the death benefit will be greater of - 1) contract value; or 2) total purchase payments adjusted for withdrawals. Upon death of annuitant prior to annuitization date and the total of all purchase payments is greater than $3 million, the death benefit will be (A*F)+B(1-F), where A = greater of 1) contract value; or 2) total purchase payments adjusted for withdrawals. B = contract value and F = the ratio of $3 million to the total purchase payments made to the contract.
Lifecycle Events
Cancellation
May not be cancelled.
Termination
May not be terminated.
Effect change ownership
None.