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Variable Annuity
Rider bbes
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Nirmala
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LM
● Terminated
Lincoln Market Select Advantage
Modified almost 2 years ago
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DTCC ID
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RIDER TYPE
GLWB
COMPANY
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INCEPTION
Feb 08, 2016
Details
BBE
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Identity
NAME
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INTERNAL CASE NAME
RIDER TYPE
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GLWB
GMAB
GMIB
GMWB
PRODUCT POLICY TYPE
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Fixed Annuity
Indexed Annuity
RILA
Variable Annuity
FORMULA
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Benefit Base
BENEFIT BASE — GENERAL
The Protected Income Base is equal to the initial Purchase Payment, increased by subsequent Purchase Payments and Account Value Lock, and decreased by Excess Withdrawals. Protected Income Base will automatically step up to the Contract Value on each Benefit Year anniversary if Owner and annuitant are under age 86.
BENEFIT BASE — WITHDRAWAL
Withdrawals can be made up to the Protected Annual Income amount as long as that amount is greater than zero. Protected Annual Income withdrawals are available when Owner and annuitant are age 55 or older. In a declining market, Excess Withdrawals may significantly reduce the Protected Income Base as well as Protected Annual Income amount. This is because the reduction in the benefit may be more than the dollar amount withdrawn from the Contract Value. If the Protected Income Base is reduced to zero due to an Excess Withdrawal, the rider will terminate. If the Contract Value is reduced to zero due to an Excess Withdrawal, the rider and contract will terminate. If a withdrawal, other than an RMD is made during the Benefit Year, then all amounts withdrawn in excess of the Protected Annual Income amount, including amounts attributable to RMDs, will be treated as Excess Withdrawals.
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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