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Variable Annuity
Rider bbes
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Nirmala
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LW
● Terminated
Lincoln Wealth Pass
Modified about 1 year ago
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DTCC ID
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RIDER TYPE
GLWB
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INCEPTION
Sep 16, 2019
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NAME
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Fixed Annuity
Indexed Annuity
RILA
Variable Annuity
FORMULA
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Benefit Base
BENEFIT BASE — GENERAL
Protected Amount, you will be able to make annual withdrawals equal to the greater of (a) or (b), where: a) is an amount less than or equal to the Protected Annual Income; or b) is an amount from a qualified or nonqualified contract that is the result of systematic installments withdrawn via an automatic withdrawal service of the amount needed to satisfy the required minimum distribution (RMD) or life expectancy payment rules for the Contract Value of the contract to which this rider is attached.
BENEFIT BASE — WITHDRAWAL
Withdrawals equal to or less than the Protected Annual Income amount will reduce the Protected Amount on a dollar for dollar basis. All withdrawals will decrease the Contract Value. If you withdraw less than the Protected Annual Income amount during a Benefit Year, you are not entitled to carry over the unused Protected Annual Income amount to another Benefit Year. Certain withdrawals will reduce the Protected Amount on a dollar for dollar basis: 1) withdrawals less than or equal to the Protected Annual Income amount; 2) withdrawals, using Lincolnâs automatic withdrawal service, equal to RMD life expectancy payouts calculated by us for qualified contracts; or 3) withdrawals, using Lincolnâs automatic withdrawal service, equal to RMD life expectancy payouts calculated by us for nonqualified contracts. All other withdrawals are Excess Withdrawals that reduce the Protected Amount by the same proportion that the withdrawals reduce the Contract Value. This rider will terminate when the Protected Amount is reduced to zero.
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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