HP
● Active
High Point Enhanced Death Benefit Rider
Nationwide Life and Annuity Insurance Company
DTCC ID
—
COMPANY
Nationwide Life and Annuity Insurance Company
TYPE
Indexed Annuity
INCEPTION
Jun 08, 2015
Identity
Benefit name
High Point Enhanced Death Benefit Rider
Internal benefit name
High Point Enhanced Death Benefit Rider
Product policy type
Indexed Annuity
Status
● Active
Sequence
2
Inception date
Jun 08, 2015
Closed date
—
DTCC Rider ID
—
Last modified
Feb 11, 2021
Life & Age
Based on life
Owner and 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
—
Partial withdrawals
Withdrawal reduces accumulated purchase payment and 200% crediting limit proportionally.
Required min distributions
—
Coverage Flags
Exclude premium bonus
No
Spousal continuation option
Yes
Spousal continuation detail
Surviving spouse may elect to continue the contract after the death of the owner, however High Point EDB will be terminated. If the death benefit value under High Point EDB is greater than the contract value, then the contract value is stepped up to the High Point EDB value and no longer subject to CDSC or MVA.
State Availability
Exception flag
No
Available in states
—
Benefit Description
Benefit is greater of basic death benefit or high point enhanced death benefit (EDB) value. High Point EDB value is greater of 1) highest daily BAV prior to anniversary following annuitant's 80th birthday or 2) minimum enhanced death benefit value (MEDB). MEDB value is earliest of purchase payment compounded at 4% per year up to 200% cap or until contract anniversary after annuitant reaches age 80.
Lifecycle Events
Available when added
Only at contract issue