Beacon Data Entry
Highest Anniversary Value Death Benefit
⌘K
HA
● Active

Highest Anniversary Value Death Benefit

Nationwide Life Insurance Company
Edit
DTCC ID —
COMPANY Nationwide Life Insurance Company
TYPE Variable Annuity
INCEPTION Feb 07, 2022
Identity
Benefit name
Highest Anniversary Value Death Benefit
Internal benefit name
Highest Anniversary Value Death Benefit
Company
Nationwide Life Insurance Company
Product policy type
Variable Annuity
Status
● Active
Sequence
2
Inception date
Feb 07, 2022
Closed date
—
DTCC Rider ID
—
Last modified
May 06, 2025
Life & Age
Based on life
Owner (or Annuitant if owner is a non-natural person)
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 reduces the 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 owner. Feature is not available with contracts issued as CRT.
State Availability
Exception flag
No
Available in states
—
Benefit Description

Available during accumulation phase. Upon death of annuitant, 1) If total purchase payments made to the contract is less than or equal to $3 mn, benefit will be greatest of - a) contract value, b) total purchase payments adjusted for withdrawals, or c) highest contract value on any contract anniversary prior to annuitant's 81st birthday adjusted for withdrawals and subsequent payments. 2) If total purchase payments made to the contract are greater than $3 mn, benefit will be determined by A*F+B*(1-F); where A = greatest of - a) contract value, b) total purchase payments adjusted for withdrawals, or c) highest contract value on any contract anniversary prior to annuitant's 80th birthday adjusted for withdrawals and subsequent payments; B = Contract Value; and F = the ratio of $3 million to the total of all purchase payments made to the contract. Benefit Option also includes the a Long-Term Care/Nursing Home and Terminal Illness Waiver.

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
Change in ownership will forfeit the elected Death Benefit and replace the death benefit value equals to the Contract Value on death of annuitant.