Beacon Data Entry
Variable Annuity Income Protection Benefit
IP
● Terminated

Income Protection Benefit

Modified almost 6 years ago
DTCC ID
RIDER TYPE GMIB
COMPANY
INCEPTION
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 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.