Edit i4LIFE Advantage Guaranteed Income Benefit (Version 3)

Identity

COMPANY *

RIDER TYPE *

NAME *

INTERNAL NAME

DTCC RIDER ID *

PRODUCT POLICY TYPE *

Rules & Limits

RIDER SELECT RULE

BASED ON LIFE

MIN AGE

MAX AGE

ELIGIBLE PP

ELIGIBLE PP TERM

MAX BENEFIT BASE

MAX BENEFIT BASE %

WITH REDUCE BENEFIT BASE

FORMULA

Dates

INCEPTION DATE *

CLOSED DATE

State Availability

Exception

Not available in states

Status Flags

Terminated

Exclude Premium Bonus

Single Life

Joint Life

Spousal Continuation Option

Formula Case Available

Notes & Descriptions

BENEFIT DESCRIPTION

Benefit is only available in conjunction with i4LIFE Advantage. Benefit guarantees minimum level of future income regardless of investment performance of underlying investment options. After Access Period, remaining contract value will applied to continue regular income payments for life of annuitant and contract value will be reduced to zero. Guaranteed Income Benefit initially equals to 75% of regular income payment. Initial regular income payment is determined on periodic income commencement date by dividing contract value or purchase payment if elected at contract issue, by 1000 and multiplying by an annuity factor. Annuity factor is based upon - 1) age and sex of annuitant, 2) Access Period elected, 3) frequency of regular income payments, 4) AIR elected and 5) Individual Annuity Mortality table specified in contract. If benefit is elected, certain restrictions will apply - 1) 4% AIR will be used to calculate regular income payments, 2) minimum Access Period required is longer of 15 years or difference between age and age 85 and 3) maximum Access Period available is to age 115 for NQ, to age 100 for QP contracts.

RIDER CANCELLATION

RIDER TERMINATION

AVAILABLE WHEN ADDED

SUBSEQUENT PREMIUM

WITHDRAWAL NOTES

PARTIAL WITHDRAWALS

REQUIRED MIN DISTRIBUTIONS

SPOUSAL CONTINUATION OPTION

EFFECT CHANGE OWNERSHIP

OTHER INFO

VERSION NOTES

INTERNAL NOTES

SCRAP BOOK

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