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Variable Annuity
Rider resets
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Nirmala
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● Terminated
Highest Daily Lifetime 6 Plus With Lifetime Income Accelerator
Modified 9 months ago
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DTCC ID
—
RIDER TYPE
GLWB
COMPANY
—
INCEPTION
Aug 07, 2009
Details
BBE
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Identity
NAME
*
INTERNAL RESET NAME
RIDER TYPE
*
GLWB
GMAB
GMIB
GMWB
PRODUCT POLICY TYPE
*
Fixed Annuity
Indexed Annuity
RILA
Variable Annuity
RESET TYPE
*
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Automatic
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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
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Notes
DESCRIPTION
If no Lifetime Withdrawals are made before the 10th or 20th anniversary of the rider effective date, the Protected Withdrawal Value on the 10th or 20th rider anniversary will be the greater of - 1) Periodic Value; and 2) the sum of (a), (b), and (c) proportionally reduced for any Non-Lifetime Withdrawals: (a) 200% (on the 10th anniversary) and 400% (on the 20th anniversary) of the unadjusted account value on the rider effective date, (b) 200% (on the 10th anniversary) and 400% (on the 20th anniversary) 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 Daily Auto Step-Up feature can result in a larger Annual Income amount subsequent to the first Lifetime Withdrawal. The Highest Daily Auto Step-Up starts with the rider anniversary immediately following the date of the first Lifetime Withdrawal. The unadjusted account value on each Valuation Day of a rider year is determined after adjustments for purchase payments and withdrawals. The highest such daily value is then multiplied by a percentage based on the attained age of the annuitant on the rider anniversary.
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