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Variable Annuity
Rider bbes
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Nirmala
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IA
● Terminated
Income Advantage Payments
Modified over 5 years ago
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Fixed Annuity
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RILA
Variable Annuity
FORMULA
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Benefit Base
BENEFIT BASE — GENERAL
On the issue date, the benefit base is equal to the quarterly anniversary value. Issuer will calculate the benefit base's quarterly anniversary value before the benefit election date and before the covered person reaches age 91. On the Issue Date, the Quarterly Anniversary Value is equal to the initial Purchase Payment made and allocated to the Income Advantage Account. At the end of each Business Day, Quarterly Anniversary Value is adjusted as follows. Issuer increases it by the amount of any additional Purchase Payments received and allocated to the Income Advantage Account, and any Base Account Value transferred into the Income Advantage Account reduce it for any withdrawals or transfers taken from the Income Advantage Account and reduces it by the greater of the percentage of Income Advantage Account Value taken, or the dollar amount taken. On each Quarterly Anniversary the Quarterly Anniversary Value is compared to the Income Advantage Account Value using the value determined at the end of the prior Business Day, and increase the Quarterly Anniversary Value to equal this Income Advantage Account Value if it is greater.
BENEFIT BASE — WITHDRAWAL
On and after the Benefit Election Date, Benefit Base only changes if annual maximum Income Advantage Payment is increased, Excess Withdrawal has taken, or Income Advantage Account Value is transferred to the Base Account.
Applicability
Contract Value
Fixed Account Value
Variable Account Value
Indexed Account Value
Accumulation Value
Purchase Payments
Earnings
Rollup Case Applicable
EEB Case Applicable
Floor Case Applicable
Reset Applicable
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