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Variable Annuity
Rider bbes
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Nirmala
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Lifetime Income Rider(Fixed Rate & Fixed Rate Plus Index Credit)
Modified about 1 year ago
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DTCC ID
—
RIDER TYPE
GLWB
COMPANY
—
INCEPTION
Jun 01, 2013
Details
BBE
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EEB
Multiplier
Bonus
Vesting
Rollup
Floor
Charge
ABP
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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
The Income Base is used to determine the Income Payments. The Total Income Base is equal to the Initial Premium Income Base and Renewal Premium Income Base. Initial Premium Income Base is the initial premium received on the date of the issue plus any rider premium enhancements, thereafter it will be credited rider interest at an Initial Premium Income Base Growth Rate during the Income Base Growth Period and index credits if applicable, until income withdrawals begin. Renewal Premium Income Base is equal to the premium received after the date of the issue until the earlier of 1) the end of the Income Base Growth Period; or 2) the start of the Income Period. It will not be credited any rider interest or index credits.
BENEFIT BASE — WITHDRAWAL
The Total Income Base and future income withdrawals will be reduced by the percentage reduction to the Annuity Value due to the withdrawals. The Renewal Premium Income Base will be reduced first, and the excess will reduce the Initial Premium Income Base.
Applicability
Contract Value
Fixed Account Value
Variable Account Value
Indexed Account Value
Accumulation Value
Purchase Payments
Earnings
Rollup Case Applicable
EEB Case Applicable
Floor Case Applicable
Reset Applicable
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