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Variable Annuity
Rider bbes
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Nirmala
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7% Nationwide Lifetime Income Rider
Modified 12 months ago · Nationwide Life Insurance Company
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DTCC ID
—
RIDER TYPE
GLWB
COMPANY
Nationwide Life Insurance Company
INCEPTION
Mar 13, 2017
Details
BBE
Reset
EEB
Multiplier
Bonus
Vesting
Rollup
Floor
Charge
ABP
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Identity
NAME
*
INTERNAL CASE NAME
RIDER TYPE
*
GLWB
GMAB
GMIB
GMWB
PRODUCT POLICY TYPE
*
Fixed Annuity
Indexed Annuity
RILA
Variable Annuity
FORMULA
— None —
Benefit Base
BENEFIT BASE — GENERAL
The Benefit Base is a value used to calculate the lifetime withdrawal benefits under the rider. On the contract date, the benefit base is set equal to the contract value. Income Benefit Base from contract issue until the first Lifetime Withdrawal will reflect any additional purchase payments, Purchase Payment Credits, reset opportunities and a Non-Lifetime Withdrawal.
BENEFIT BASE — WITHDRAWAL
If Non-Lifetime withdrawal is taken after the 10th contract anniversary, the Income Benefit Base will be equal to the greater of 1) Adjusted Current Income Benefit Base; 2) Roll up value, equal to the sum of a) Adjusted Roll-up Income Benefit Base with Roll up, b) Subsequent Purchase Payments with Roll up, c) Subsequent Purchase Payments with No Roll up (equal to the some of ca} any purchase payments after 10th contract anniversary and before the non-lifetime withdrawal, plus, cb} any purchase payments after non-lifetime withdrawal); or 3) the highest contract value, on any contract anniversary after the 10th contract anniversary, plus purchase payments submitted after that contract anniversary. If Non-Lifetime withdrawal is taken on or before the 10th contract anniversary, the benefit base will be equal to the greater of - 1) Adjusted Current Income Benefit Base; 2) highest contract value; or 3) roll up value, equal to the sum of a) Adjusted Roll-up Income Benefit Base with Roll up, b) Subsequent Purchase Payments with Roll up (equal to the sum of any purchase payments before and after non-lifetime withdrawals, c) Subsequent Purchase Payments with No Roll up, on any contract anniversary after the 10th contract anniversary, plus purchase payments submitted after that contract anniversary.
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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