IP
● Terminated
Income Protection Benefit
Modified almost 6 years ago
DTCC ID
—
RIDER TYPE
GMIB
COMPANY
—
INCEPTION
—
Identity
Name
Income Protection Benefit
Internal name
Income Protection Benefit
Company
—
Rider type
GMIB
DTCC Rider ID
—
Product policy type
—
Status
● Terminated
Inception date
—
Closed date
Jan 14, 2008
Benefit description
Benefit protects from poor investment performance during accumulation phase. Benefit guarantee that variable income payments under income plan 1 will never be less than 85% of initial variable amount income value. Under income Plan 2, benefit guarantee that variable income payments will never be less than 85% of initial variable amount income value prior to later of - 1) death, or 2) end of guaranteed payment period.