7N
● Terminated
7% Nationwide Lifetime Income Rider
Modified about 2 years ago · Nationwide Life Insurance Company
DTCC ID
—
RIDER TYPE
GLWB
COMPANY
Nationwide Life Insurance Company
INCEPTION
Jun 11, 2012
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
Jun 11, 2012
Closed date
Sep 14, 2020
Age range
45.0 – 85.0
Benefit description
The rider provides a guaranteed lifetime income with a one-time withdrawal without initiating the lifetime income benefit. It offers a level of certainty for clients who are at or near retirement and need to know the minimum level of income they'll have in retirement. Rider also has an annual step-up feature, that locks in the highest contract value on the rider anniversary if the investment options outperform the 7% simple interest roll-up rate.,The Joint Option is not available for contracts issued as CRT.