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Variable Annuity
Rider bbes
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Nirmala
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5L
● Terminated
5% Lifetime Income Benefit
Modified over 10 years ago
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DTCC ID
—
RIDER TYPE
GLWB
COMPANY
—
INCEPTION
—
Details
BBE
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EEB
Multiplier
Bonus
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Floor
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ABP
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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
— None —
Benefit Base
BENEFIT BASE — GENERAL
The Benefit Base is a value used to calculate the lifetime withdrawal benefits under the rider. Nationwide calls this value the Current Income Benefit Base. On the contract date, the benefit base is set equal to the contract value.
BENEFIT BASE — WITHDRAWAL
At the time of first withdrawal and on each rider anniversary thereafter, the lifetime income percentage is multiplied by the Current Income Benefit Base to determine the benefit amount for that year. The benefit amount is the maximum amount that can be withdrawn from the contract before the next rider anniversary without reducing the Current Income Benefit Base.
Applicability
Contract Value
Fixed Account Value
Variable Account Value
Indexed Account Value
Accumulation Value
Purchase Payments
Earnings
Rollup Case Applicable
EEB Case Applicable
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Reset Applicable
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