RO
● Active
Return of Premium Death Benefit
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
Internal benefit name
Return of Premium Death Benefit
Product policy type
Variable Annuity
Status
● Active
Sequence
2
Inception date
Jun 01, 2020
Closed date
—
DTCC Rider ID
—
Last modified
May 06, 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
Not Applicable.
Partial withdrawals
Withdrawal including advisory fee withdrawals reduces the death benefit value proportionally to the reduction to 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 annuitant, provided it's been specified to elect the spousal continuation feature at the time of contract issue.
State Availability
Exception flag
No
Available in states
—
Benefit Description
Available during accumulation phase. Upon death of annuitant, if 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 if 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. Excess advisory fee may negatively impact the benefit base.
Lifecycle Events
Cancellation
May not be cancelled.
Termination
May not be terminated.
Available when added
At the contract issue.
Effect change ownership
Change in ownership may result in termination of contract.