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Variable Annuity
Rider bbes
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Nirmala
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3B
● Active
360 Benefit
Modified 10 months ago
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DTCC ID
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RIDER TYPE
GLWB
COMPANY
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INCEPTION
Aug 02, 2011
Details
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Identity
NAME
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INTERNAL CASE NAME
RIDER TYPE
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GLWB
GMAB
GMIB
GMWB
PRODUCT POLICY TYPE
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Fixed Annuity
Indexed Annuity
RILA
Variable Annuity
FORMULA
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Benefit Base
BENEFIT BASE — GENERAL
Rider provides two lifetime income withdrawal options to suit the income needs of the owner- 1) Level Income: which gives predictable, dependable income for life. It can be chosen, if owner wants the reassurance of knowing exactly how much income is received every month. Under this option - from the second year of lifetime withdrawals accumulation value is multiplied by the lifetime withdrawal percentages and if the result is greater than the previous contract year's annual maximum, this becomes the new annual maximum. 2) Increasing Income: which provides income for life plus an opportunity for payment increases. This offers a small payment upfront but has the potential to increase each year by the interest rate credited to the chosen allocation option in the contract. Payments with the opportunity to increase are based on changes in fixed or indexed allocations. On each contract anniversary, the previous yearâs income payment will be recalculated to reflect any interest rate in chosen allocations.
BENEFIT BASE — WITHDRAWAL
The owner has the option to withdraw an amount less than the maximum allowed under the rider. The remaining balance is referred to as the Cumulative Withdrawal Amount, which can be withdrawn in full or in part at any time, even after the owner has received the maximum annual income payment in a contract year.
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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