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Beacon
Data Entry
Variable Annuity
Rider resets
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Nirmala
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HD
● Terminated
Highest Daily Lifetime Seven Income Benefit
Modified over 3 years ago
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DTCC ID
—
RIDER TYPE
GLWB
COMPANY
—
INCEPTION
—
Details
BBE
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EEB
Multiplier
Bonus
Vesting
Rollup
Floor
Charge
ABP
Edit Rider Reset
Identity
NAME
*
INTERNAL RESET NAME
RIDER TYPE
*
GLWB
GMAB
GMIB
GMWB
PRODUCT POLICY TYPE
*
Fixed Annuity
Indexed Annuity
RILA
Variable Annuity
RESET TYPE
*
Select reset type
Automatic
Both
Manual
Dates
INCEPTION DATE
*
CLOSED DATE
Reset Details
HAV APPLIES YEARS
NO. OF YEARS
HAV TERM
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Age
Contract Year
Daily
Days
Monthly
Months
Quarterly
Semi-Annually
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
— None —
Notes
DESCRIPTION
If no Lifetime Withdrawals are made before the 10th anniversary of the rider effective date, the Protected Withdrawal Value on the 10th rider anniversary will be the greatest of - 1) policy value; 2) Periodic Value; and 3) the sum of (a) 200% of the policy value on the rider effective date, (b) 200% of any purchase payments made within one year of the rider effective date, and (c) all purchase payments made after one year following the effective date of the rider.
RESET NOTE
Highest Quarterly Auto Step-Up can result in a larger Annual Income amount subsequent to the first Lifetime Withdrawal. The Highest Quarterly Auto Step-Up starts with the rider anniversary immediately following the date of the first Lifetime Withdrawal. The policy value at the end of each quarter of a rider year is determined after adjustments for purchase payments and withdrawals. The highest such quarterly value is then multiplied by a percentage based on the attained age of the annuitant on the rider anniversary.
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