Increased Free Surrender Amount for Nursing Home Confinement Rider
After first contract year, this rider will increase the annual free surrender amount from 10% of net premiums to 20%, each consecutive contract year annuitant qualifies for this rider, if the annuitant is confined to a qualified nursing care center for a period of at least 90 days and the confinement is medically necessary. If there are joint annuitants, this rider may be exercised once for either first or second annuitant to become confined to a qualified nursing care center, but not for both. Qualified nursing care centers are defined in the rider attached to the contract.
No longer available for new purchases.
May be cancelled any time after election.
Benefit will terminate upon earliest of ââ¬â 1) exercising the benefit, 2) termination of contract, 3) annuitization or 4) death.
Feature cases
| Case name | Current charge (%) | Max charge (%) | Owner age (min–max) | Annuitant age (min–max) |
|---|---|---|---|---|
| Increased Free Surrender Amount for Nursing Home Confinement Rider | 0 | 75 |