RO
● Active
Return of Premium Death Benefit with Spousal Protection
Nationwide Life Insurance Company
DTCC ID
—
COMPANY
Nationwide Life Insurance Company
TYPE
Variable Annuity
INCEPTION
Jun 01, 2020
Identity
Benefit name
Return of Premium Death Benefit with Spousal Protection
Internal benefit name
Return of Premium Death Benefit with Spousal Protection
Product policy type
Variable Annuity
Status
● Active
Sequence
5
Inception date
Jun 01, 2020
Closed date
—
DTCC Rider ID
—
Last modified
May 07, 2025
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 proportionally to the reduction in the contract value.
Required min distributions
Not Applicable.
Coverage Flags
Exclude premium bonus
No
Spousal continuation option
Yes
Spousal continuation detail
Surviving spouse may elect to continue benefit after death of other spouse.
State Availability
Exception flag
No
Available in states
—
Benefit Description
Available during accumulation phase only. Upon death of annuitant if total of all purchase payments is less than or equal to $3 million, the death benefit will be greatest of - 1) contract value; or 2) total purchase payments adjusted for withdrawals. Upon death of annuitant if total of all purchase payments is greater than $3 million, the death benefit will be (A*F)+B(1-F), where A = greatest 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. Not available with CRT contracts.
Lifecycle Events
Cancellation
Once elected may not be cancelled.
Termination
Once elected may not be terminated.
Available when added
Only at contract issue.
Effect change ownership
Certain ownership changes reduces the death benefit amount.