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Variable Annuity
Rider bbes
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Nirmala
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GW
● Terminated
Guaranteed Withdrawal Benefit for Life
Modified 11 months ago
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DTCC ID
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RIDER TYPE
GLWB
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INCEPTION
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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
Upon conversion of Guaranteed minimum income benefit (GMIB) to GWBL at age 85, GWBL benefit base is equal to either account value or GMIB benefit base. Benefit base is not reduced by withdrawals except those withdrawals that cause total withdrawals in a contract year to exceed withdrawal amount.
BENEFIT BASE — WITHDRAWAL
The withdrawal amount may be withdrawn at any time during the contract year that begins on the conversion effective date, or any subsequent contract year. Withdrawal amount is calculated based on Single Life or Joint Life.
Applicability
Contract Value
Fixed Account Value
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