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Variable Annuity
Rider eebs
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Nirmala
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Lifetime Income Benefit Rider with Indexing Income
Modified almost 3 years ago
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DTCC ID
—
RIDER TYPE
GLWB
COMPANY
—
INCEPTION
Feb 01, 2007
Details
BBE
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EEB
Multiplier
Bonus
Vesting
Rollup
Floor
Charge
ABP
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Identity
NAME
*
INTERNAL CASE NAME
RIDER TYPE
*
GLWB
GMAB
GMIB
GMWB
PRODUCT POLICY TYPE
*
Fixed Annuity
Indexed Annuity
RILA
Variable Annuity
FORMULA
— None —
Details
INCEPTION DATE
*
CRED MULTI
MULTI TERM
Select term
Age
Contract year
Days
Months
Years
MULTI PERIOD
MAX ENHANCEMENT
Applicability
Fixed Accounts
Index Accounts
Sub Accounts
Exceptions
State Availability
Exception
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Alaska (AK)
American Samoa (AS)
Arizona (AZ)
Arkansas (AR)
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Wyoming (WY)
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Not available in states
Notes
DESCRIPTION
In the Indexing income option, IAV is based on the rate of return on the contract from the previous anniversary. The Contract Value rate of return is then multiplied by the IAV Multiplier to determine the IAV Credit for the year. Every anniversary, the IAV Credit is applied to the IAV. If there are no interest credits for the year, the IAV will not increase. Initial multiplier here is 400% guaranteed for the first year.
INTERNAL NOTES
MULTI NOTES
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