SECURITY BENEFIT | 9
Other Benefits and Charges
Terminal Illness and Nursing Home Waivers — Surrender Charges, Bonus Recapture, and any MVA (if applicable) are waived if you are confined to a nursing home or hospital for longer than 90 days, or if you are diagnosed with a terminal illness. A request to waive these charges must be made after the third Contract Anniversary, on forms provided by Security Benefit, and must be accompanied by a physician’s statement (not available in all states and state variations apply; review the SOU for details). Death Benefit — For the TopRidge Bonus Annuity contract, if the Annuitant dies before receiving annuity payments (annuitization), the beneficiaries will receive 100% of the account value, less any applicable premium tax and partial rider charge. If the Owner (or the Annuitant, if the Owner is not a natural person) or a Joint Owner who is the spouse of the Annuitant dies, the death benefit is the greater of: (i) the Guaranteed Minimum Cash Surrender Value, or (ii) the Account Value, less a partial rider charge. If an Owner or Joint Owner who is not the spouse of the Annuitant dies, the death benefit is equal to the Cash Surrender Value. In California, if the contract is issued to persons 60 or older, the amount payable is the greater of: (i) the Guaranteed Minimum Cash Surrender Value, or (ii) the Account Value, less a partial rider charge, regardless of who died. Review the SOU or talk with your financial professional for more information about the annuity’s death benefit. The TopRidge Bonus Annuity offers flexible options to help you along the way. In addition the Cumulative Free Withdrawal Rider, the TopRidge Bonus Annuity offers other options including Terminal Illness and Nursing Home Waivers, and a Death Benefit. Review the SOU for more details.
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