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Variable Annuity
Rider resets
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Nirmala
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GL
● Terminated
Guaranteed Lifetime Income Advantage
Modified over 6 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
BBE
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EEB
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Bonus
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ABP
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Identity
NAME
*
INTERNAL RESET NAME
RIDER TYPE
*
GLWB
GMAB
GMIB
GMWB
PRODUCT POLICY TYPE
*
Fixed Annuity
Indexed Annuity
RILA
Variable Annuity
RESET TYPE
*
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Automatic
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Dates
INCEPTION DATE
*
CLOSED DATE
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HAV APPLIES YEARS
NO. OF YEARS
HAV TERM
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Age
Contract Year
Daily
Days
Monthly
Months
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Years
STEP UP %
STEP UP % BASIS
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Account Value
Accumulation Value
Benefit Base
Earnings
Fixed Account Value
Indexed Account Value
Interest Bonus
Others
Purchase Payments
Variable Account Value
SIMPLE / COMPOUND
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Compound
Simple
NO. OF RESET
RESET TERM
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Age
Contract year
Days
Months
Years
FORMULA
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Notes
DESCRIPTION
In case of no withdrawals in a contract year, Issuer will apply the Bonus on the last day of contract year. Bonus is available during the first 10 contract years after the GLIA Rider is purchased. Bonus amount is equal to Bonus Percentage multiplied by the sum of all contributions minus Bonus Percentage multiplied by the sum of all withdrawals. Bonus Percentage is determined by age at the time each Bonus is calculated as - for age 64 or younger - 4%, 65-69 - 4.5%, 70-74 - 5%, 75-79 - 5.5% and for age 80 and above - 6%.
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