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Variable Annuity
Rider bbes
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Nirmala
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LM
● Terminated
Lincoln Max 6 Select Advantage
Modified over 1 year ago
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DTCC ID
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RIDER TYPE
GLWB
COMPANY
—
INCEPTION
May 22, 2017
Details
BBE
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EEB
Multiplier
Bonus
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Rollup
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ABP
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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
*
Fixed Annuity
Indexed Annuity
RILA
Variable Annuity
FORMULA
— None —
Benefit Base
BENEFIT BASE — GENERAL
The Benefit Year is the 12-month period starting with the effective date of the rider and starting with each anniversary of the rider effective date after that. Protected Income base is used to calculate protected annual income amount. Protected Income base is equal to the initial purchase payment increased by any subsequent purchase payments, Account value lock and 6% enhancements less any withdrawals. The Enhancement Base is equal to the initial Purchase Payment, increased by subsequent Purchase Payments and Account value lock, and decreased by Excess Withdrawals.
BENEFIT BASE — WITHDRAWAL
The Protected Annual Income amount is determined by multiplying the Protected Income Base by the applicable rate, based on owner's age and whether the single or joint life option has been elected, and whether or not owner's Contract Value has been reduced to zero. The ProtectedAnnual Income rate will be based on your age as of the date the first withdrawal on or after age 59 (based on the age of the younger of owner or spouse for the joint life option). Thereafter the Protected Annual Income rate will only increase upon an Account value lock, and will decrease once the Contract Value is reduced to zero. Excess withdrawals exceeds the PAI amount at the time of 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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