7N
● Terminated
7% Nationwide Lifetime Income Rider
Modified over 4 years ago · Nationwide Life Insurance Company
DTCC ID
—
RIDER TYPE
GLWB
COMPANY
Nationwide Life Insurance Company
INCEPTION
Nov 01, 2010
Identity
Name
7% Nationwide Lifetime Income Rider
Internal name
7% Nationwide Lifetime Income Rider
Rider type
GLWB
DTCC Rider ID
—
Product policy type
—
Status
● Terminated
Inception date
Nov 01, 2010
Closed date
May 01, 2013
Age range
50.0 – 85.0
Benefit description
The rider provides a guaranteed lifetime income.,The Joint Option for the 7% Nationwide Lifetime Income Rider is only available for election if and when the 7% Nationwide Lifetime Income Rider is elected. If, after beginning the lifetime income withdrawals, the contract value falls to zero, the contract owner has three options as follows: (1) continue withdrawals of no more than the LIB until the death of the contract owner; (2) elect the Age Based Lump Sum Settlement Option; or(3) elect the Underwritten Lump Sum Settlement Option.