SD
● Active
Standard Death Benefit (Return of Premium)
Nationwide Life Insurance Company
DTCC ID
—
COMPANY
Nationwide Life Insurance Company
TYPE
Variable Annuity
INCEPTION
Feb 07, 2022
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
Feb 07, 2022
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
Mandatory
Waiting period
—
Waiting term
—
Benefit Base
Maximum benefit base
—
Maximum benefit base %
—
With reduce benefit base
—
Subsequent premium
Not Applicable.
Partial withdrawals
Withdrawals will reduce benefit base in same proportion.
Required min distributions
Not Applicable.
Coverage Flags
Exclude premium bonus
No
Spousal continuation option
Yes
Spousal continuation detail
Spousal Protection Feature Available which allows Surviving spouse to continue benefit after death of owner.
State Availability
Exception flag
No
Available in states
—
Benefit Description
Available during accumulation phase and which is also a Return of Premium Death Benefit (ROP). Upon death of Owner or 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 and subsequent payments. 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 ration 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
Certain ownership changes reduces the death benefit amount.