Income Rider (ICC18-SSLIANGLWB, SSLIANGLWB18-XX)
Built for guaranteed income, the Summit Bonus Index SM Annuity offers annual income, called Guaranteed Lifetime Withdrawal Benefit payments, through the selection of the optional Income Rider at purchase. Income payments under this rider are available as soon as the first year, for anyone age 55 or older. When you elect to receive payments under the Income Rider, you have the option to select a single life payout for you or a joint life payout for you and your spouse.
WHAT ARE THE BENEFITS?
The optional Income Rider provides a number of benefits to policyholders: • The Income Account Value is immediately credited the 15% premium bonus for a higher starting point for growth. • The Income Account Value compounds annually by a 7.25% roll-up rate, which is guaranteed for 10 years. • You can never outlive the Guaranteed Lifetime Withdraw Benefit once income benefits begin. • Once income benefits begin, you can still receive income even if the accumulation value of your policy is ZERO. Withdrawals in addition to your income payments may reduce or eliminate your Lifetime Annual Income. If you purchase this Rider and pass away, your spouse can continue to benefit from this Rider. Your surviving spouse may choose to either: (a) S urrender the Base Policy and receive the current Accumulation Value in a lump sum or any other payout option available in the Base Policy; or (b) continue receiving Guaranteed Lifetime Withdrawal Benefits while they are alive in the same amount until the Income Account Value and the Accumulation Value are reduced to zero. 5 SPOUSAL CONTINUATION
5 See contract for full details. Annuity and optional rider are not available in all states. Contact an agent or visit www.sslco.com for listings.
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SSLSBIBR-OT 080123
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