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Variable Annuity
Rider resets
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Nirmala
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LI
● Terminated
Lincoln IRA Income Plus
Modified over 5 years ago
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DTCC ID
—
RIDER TYPE
GLWB
COMPANY
—
INCEPTION
May 01, 2019
Details
BBE
Reset
EEB
Multiplier
Bonus
Vesting
Rollup
Floor
Charge
ABP
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Identity
NAME
*
INTERNAL RESET NAME
RIDER TYPE
*
GLWB
GMAB
GMIB
GMWB
PRODUCT POLICY TYPE
*
Fixed Annuity
Indexed Annuity
RILA
Variable Annuity
RESET TYPE
*
Select reset type
Automatic
Both
Manual
Dates
INCEPTION DATE
*
CLOSED DATE
Reset Details
HAV APPLIES YEARS
NO. OF YEARS
HAV TERM
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Age
Contract Year
Daily
Days
Monthly
Months
Quarterly
Semi-Annually
Years
STEP UP %
STEP UP % BASIS
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Account Value
Accumulation Value
Benefit Base
Earnings
Fixed Account Value
Indexed Account Value
Interest Bonus
Others
Purchase Payments
Variable Account Value
SIMPLE / COMPOUND
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Compound
Simple
NO. OF RESET
RESET TERM
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Age
Contract year
Days
Months
Years
FORMULA
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Notes
DESCRIPTION
On each Benefit Year anniversary, the Protected Income Base will be increased by an Enhancement, if there are no withdrawals in the preceding Benefit Year. / A new 10-year period begins each time there is an Account value lock. The Enhancement and Account value lock will not occur in the same year. If the Account value lock provides a greater increase in the Protected Income Base, the 5% Enhancement will not be received. During the first 10 rider years, the percentage charge for the rider will not change for increases in the Protected Income Base due to the 5% Enhancement. After the 10th rider anniversary, the percentage charge for the rider may increase to the current charge if the Protected Income Base increases as a result of the 5% Enhancement. The owner may opt out of the 5% Enhancement by giving written notice within 30 days of the rider anniversary. The opt-out will only apply to that particular Enhancement. Written notice will be required each time an Enhancement is declined.
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