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Variable Annuity
Rider bbes
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Nirmala
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GW
● Terminated
Guaranteed Withdrawal Benefit
Modified over 14 years ago
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DTCC ID
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RIDER TYPE
GLWB
COMPANY
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INCEPTION
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Details
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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 GWB value is equal to total purchase payments less GWB adjusted partial withdrawals. The maximum amount available for GWB withdrawals each contract year is the lesser of: (1) 10% of total purchase payments (the partial withdrawal privilege amount); or (2) remaining GWB value.
BENEFIT BASE — WITHDRAWAL
Owner can continue to take GWB withdrawals until owner withdrawn all of the GWB value. This means that under the GWB, if no remaining contract value, contract will continue until owner withdrawn all the purchase payments less GWB adjusted partial withdrawals.
Applicability
Contract Value
Fixed Account Value
Variable Account Value
Indexed Account Value
Accumulation Value
Purchase Payments
Earnings
Rollup Case Applicable
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Reset Applicable
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