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Variable Annuity
Rider bbes
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Nirmala
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GL
● Terminated
Guaranteed Lifetime Withdrawal Benefit
Modified over 5 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
Multiplier
Bonus
Vesting
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ABP
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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
Benefit base is established at the beginning of the withdrawal phase. Initial benefit base equals the greatest of the following, determined at the beginning of the withdrawal phase - 1) policy value; 2) premium accumulation value; or 3) maximum anniversary policy value. The benefit base is adjusted downward due to an excess withdrawal and upward due to step-up or additional premium payments. Maximum anniversary policy value is the highest policy value on any policy anniversary during the 10-year period after the later of the rider activation date or the most recent reset date.
BENEFIT BASE — WITHDRAWAL
One withdrawal is permitted per rider year during the accumulation phase without initiating the withdrawal phase. The withdrawal must be at least $100 and conform to other terms. Second request for a withdrawal in a rider year will automatically transition the rider to the withdrawal phase.
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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