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Variable Annuity
Rider eebs
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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
—
RIDER TYPE
GLWB
COMPANY
—
INCEPTION
Feb 26, 2013
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Identity
NAME
*
INTERNAL CASE NAME
RIDER TYPE
*
GLWB
GMAB
GMIB
GMWB
PRODUCT POLICY TYPE
*
Fixed Annuity
Indexed Annuity
RILA
Variable Annuity
FORMULA
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Details
INCEPTION DATE
*
CRED MULTI
MULTI TERM
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Age
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Days
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Years
MULTI PERIOD
MAX ENHANCEMENT
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Notes
DESCRIPTION
Under PIV Interest Bonus, provides an additional interest income on the allocation, if interest is earned. In an indexed allocation, interest is credited at the end of the crediting period, and interest is equal to the PIV interest rate for that allocation multiplied by the PIV bonus factor, this increases Benefit Base amount equal to the 150% of strategy credit amount. In the fixed allocation interest is credited at the end of the day and is equal to the daily rate for the fixed allocation and interim allocation multiplied by the PIV in that allocation at the end of the day. To start receiving the bonus, contract must be held for at least 10 contract years. The Income Flex Benefit may be elected on the Contract Anniversary after the Lifetime Withdrawal Start Date if positive interest was credited. Upon notice, you can withdraw up to the Income Flex Benefit Amount instead of receiving an Annual Maximum increase.
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