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Variable Annuity
Rider bbes
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Nirmala
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GM
● Terminated
Guaranteed Minimum Withdrawal Benefit
Modified over 10 years ago
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RIDER TYPE
GLWB
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INCEPTION
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NAME
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INTERNAL CASE NAME
RIDER TYPE
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GLWB
GMAB
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GMWB
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Fixed Annuity
Indexed Annuity
RILA
Variable Annuity
FORMULA
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Benefit Base
BENEFIT BASE — GENERAL
At contract issue, benefit amount is equal to percentage of initial purchase payment including any credit enhancement. If rider purchased on a contract anniversary, benefit amount is equal to a percentage of contract value on the valuation date, thereafter, reduce for withdrawals.
BENEFIT BASE — WITHDRAWAL
If owner take more than annual withdrawal amount in a contract year, Issuer will recalculate the remaining benefit amount, and annual withdrawal amount may be lower in the future. Withdrawals under this rider reduce contract value by the amount of the withdrawal, including any applicable withdrawal charges or premium taxes and any forfeited credit enhancements; provided, however, that a withdrawal of the annual withdrawal amount is not subject to a withdrawal charge. Any withdrawal up to the annual withdrawal amount in a contract year reduces the free withdrawal amount otherwise available in that contract year, and withdrawals, including withdrawals of the annual withdrawal amount, may result in forfeiture of credit enhancements.
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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