What if the unexpected happens? With the MNL Income Planning Annuity, you can rest confidently knowing what your guaranteed payout will be. While life doesn’t always offer the same kind of guarantees, the GLWB helps protect you for some of the unpredictable “what ifs” in life. LPA multiplier If an unpredictable event leaves the covered person unable to perform at least two of the six “Activities of Daily Living” (ADLs) as defined in the contract, the lifetime payment amount can double for up to five years of payments or until the accumulation value equals zero, as long as the covered person continues to meet the requirements on each annual payment date. Confirmation that the client continues to meet the requirements will be required on an annual basis. For the rider, the term “covered person” is the owner, or for non-natural owners the annuitant. Activities of daily living (ADLs) For full ADL definitions, please refer to the contract. To qualify for the LPA multiplier benefit, the covered person must have been able to perform all six activities of daily living on the GLWB rider issue date. The six ADLs include: 1. Bathing - Washing yourself by sponge bath in a tub or shower, including getting in or out. 2. Continence - Bowel and bladder control or, when unable to maintain control, the ability to perform associated personal hygiene. 3. Dressing - Includes putting on and taking off clothing and any necessary braces, fasteners or artificial limbs. 4. Eating - Being able to feed yourself or manage a feeding tube or intravenous feeding. 5. Toileting - Getting to and from the toilet, getting on and off it and performing associated personal hygiene. 6. Transferring - Moving into or out of a bed, chair or wheelchair. To take advantage of the benefit, additional conditions have to be met: • The multiplier benefit waiting period of 2 years has been met; and • The covered person is unable to perform the required number of ADLs for at least the multiplier benefit ADL period of 90 consecutive days; and • The covered person must notify us of the election to take the LPA multiplier benefit on or after the lifetime payment election date; and • We will need to receive written proof, acceptable to us, from a physician (Licensed Health Care Practitioner in CA) who has determined that the covered person is unable to perform two of six ADLs; and • The covered person remains unable to perform the required number of ADLs on the date each annual payment is due, up to the multiplier benefit limit; and • The total number of contract years in which the multiplier benefit may be elected may not exceed the multiplier benefit limit.
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