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Variable Annuity
Rider bbes
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Nirmala
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PI
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Protected Income Value
Modified 6 months ago
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DTCC ID
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RIDER TYPE
GLWB
COMPANY
—
INCEPTION
Feb 26, 2013
Details
BBE
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EEB
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Identity
NAME
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INTERNAL CASE NAME
RIDER TYPE
*
GLWB
GMAB
GMIB
GMWB
PRODUCT POLICY TYPE
*
Fixed Annuity
Indexed Annuity
RILA
Variable Annuity
FORMULA
— None —
Benefit Base
BENEFIT BASE — GENERAL
Protected Income Value (PIV) is the benefit base that is used to determine the Guaranteed Lifetime Income Withdrawals under the rider. Initially, the PIV is equal to the 100% of the initial premium paid into the contract, thereby is credited by Premium Bonus and Interest Bonus.
BENEFIT BASE — WITHDRAWAL
After the lifetime withdrawals begin, income payments can be increased following each year the contract earns interest including PIV interest bonus.
Applicability
Contract Value
Fixed Account Value
Variable Account Value
Indexed Account Value
Accumulation Value
Purchase Payments
Earnings
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Reset Applicable
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