Key Terms
Partial Withdrawal
Surrender
Available at any time, for partial distribution over the Free Withdrawal amount. Surrender Charges and minimum values will apply.
Termination of the contract in exchange for Cash Surrender Value.
Surrender Charge
Fee charged, when applicable, for full or partial distribution over the Free Withdrawal amount.
Premium Bonus
Guaranteed 10% Premium Bonus on all premiums received in the first contract year.
Wellbeing Benefit Enhanced Income Payment
Increases the amount of income payments by an enhanced income factor, for up to five years. (Only applicable with Lifetime Income Benefit Rider Options 4 and 5.)
Rider Fee
The fee charged for the Lifetime Income Benefit Rider is based on the Income Account Value and deducted from the Contract Value each year as long as the rider is attached to the contract.
Single Life Payout
For the owner and sole annuitant, payouts are based on age at election.
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