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Variable Annuity
Rider bbes
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Nirmala
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GP
● Terminated
Guaranteed Partial Withdrawal Benefit
Modified about 2 years ago
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DTCC ID
—
RIDER TYPE
GLWB
COMPANY
—
INCEPTION
May 01, 2003
Details
BBE
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EEB
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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
GPWB value is total Purchase Payments adjusted for partial withdrawals and Partial Annuitizations.
BENEFIT BASE — WITHDRAWAL
If GPWB is exercised: 1) The GMIB will terminate. 2) Additional Purchase Payments are not permitted to the Contract and the automatic investment plan (AIP) will no longer be available. 3) Partial Annuitizations will no longer be available. 4) The partial withdrawal privilege will no longer be available. 5) The systematic withdrawal and minimum distribution programs will no longer be available. 6) Contract Value will fluctuate as a result of market performance, and it will decrease on a dollar for dollar basis with each GPWB Payment and any Excess Withdrawals. 7) The GMDB and GPWB values will no longer increase. 8) Each GPWB Payment will reduce the GMDB value on a dollar for dollar basis and any Excess Withdrawals will reduce the GMDB value proportionately by the percentage of Contract Value withdrawn. 9) GPWB Payments will not reduce the Withdrawal Charge Basis, but any Excess Withdrawals will reduce the Withdrawal Charge Basis.
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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