Activities of Daily Living (cont.): . 3) Transferring: the ability to move in and out of a chair, bed, or wheelchair with or without equipment such as canes, quad canes, walkers, crutches or grab bars or other support devices including mechanical or motorized devices; . 4) Continence: the ability to voluntarily control bowel and bladder function, or, in the event of incontinence, the ability to maintain a reasonable level of personal hygiene including caring for a catheter or colostomy bag; . 5) Eating: the ability to feed oneself by getting food into one’s body from a receptacle (such as a plate or cup or table) or by a feeding tube or intravenously; and . 6) Bathing: the ability to wash oneself, with or without the help of adaptive devices, by sponge bath; or in the tub or shower, including the task of getting in and out of the tub or shower. Severe Cognitive Impairment: A diagnosis by a physician who is a certified neurologist of Alzheimer’s disease and similar forms of irreversible dementia supported by medical evidence of a loss or deterioration in intellectual capacity that includes short-or long-term memory, orientation to people, places, or time, abstract or deductive reasoning, and judgment as it pertains to safety. Termination: The rider will end at the earlier of written request from your client or termination of the policy. Reinstatement: The rider may be reinstated upon reinstatement of the policy. Available After Issue: No.
Lifetime Income Design: Provides a guaranteed lifetime income for the owner.
Issue Ages: 20–65 [(61-65 coming soon)]. Cost: No cost for the rider until it is activated.
Conditions Required to Activate Rider: The insured must be between ages 50 and 85 and must not currently be receiving any benefits from any of the policy’s other riders. The policy must have a cash surrender value of at least $5,000 and death benefit option A. It must have been at least 10 years since the policy was issued or the specified amount was increased. Upon Activating Rider: Specified amount is reduced by the greater of the difference between the specified amount and the account value minus the activation charge, multiplied by the applicable IRC Section 7702 corridor factor shown on the policy schedule or zero. All other existing riders attached to the policy are terminated. A partial withdrawal is taken from the account value to repay any existing loans. The owner elects the disbursement option from one of the following: • Level • Increasing by 3% each year. • Potentially increasing by x% each year where every subsequent year the disbursements will be compared to the corresponding disbursements from the prior year. Requirements to Continue Payments: Death benefit option must remain Option A. No additional partial withdrawals, other than the payment of the income benefits may be taken. No premium payments will be accepted, and no specified amount changes will be allowed. Rated Policies: Rider is available. Termination: Disbursements will cease when this rider terminates. The rider will terminate at the earliest of death of the insured, policy termination or lapse or owner requests termination of this rider. Reinstatement: The rider may be reinstated upon reinstatement of the policy. Available After Issue: Yes.
For financial professional use only. Not for use with clients.
IUL-AG-0723
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