Annual Step-Up Death Benefit

The Annual Step-Up Death Benefit is an optional feature that can be added to an annuity contract for an additional charge. This feature ensures that the death benefit payable upon the death of the annuitant will be no less than the highest annuity value on any contract anniversary prior to the annuitant's 81st birthday. The highest annuity value will be: Increased for any premium payments made after the anniversary on which the highest value occurred. Decreased for any adjusted partial surrenders taken after that anniversary. This feature helps secure a higher death benefit for your beneficiary by locking in the highest annuity value over time, while adjusting for any premiums or withdrawals.