Beacon Data Entry
Variable Annuity Highest Daily Lifetime 7 Plus
HD
● Terminated

Highest Daily Lifetime 7 Plus

Modified over 3 years ago
DTCC ID
RIDER TYPE GLWB
COMPANY
INCEPTION
Name
Highest Daily Lifetime 7 Plus
Internal name
Highest Daily Lifetime 7 Plus
Company
Rider type
GLWB
DTCC Rider ID
Product policy type
Status
● Terminated
Inception date
Closed date
Aug 24, 2009
Age range
45

The rider provides a guaranteed annual lifetime withdrawal benefit equal to a percentage of the initial benefit base. Lifetime Withdrawals can begin at any time and the company allows a one-time Non-Lifetime Withdrawal prior to taking Lifetime Withdrawals under the benefit.,Rider also provide one-time Non-Lifetime Withdrawal, it is an optional feature of benefit that can be elected at first withdrawal. Amount of Non-Lifetime Withdrawal cannot be more than amount that would cause annuity to be taken below minimum surrender value. Non-Lifetime Withdrawal will not establish initial annual benefit payment and Periodic Value described above will continue to be calculated. Non-Lifetime Withdrawal will proportionally reduce benefit base and annual benefit payments guaranteed on 10th, 20th or 25th anniversaries of rider issue date. The rider provides a death benefit in addition to the base contract death benefit.