How the enhanced liquidity benefit works Through four features, the optional enhanced liquidity benefit (ELB) offers you the versatility you may need to navigate whatever life has in store. The ELB rider annual fee is equivalent of 0.60% of your accumulation value which is withdrawn as a partial surrender on each contract anniversary as long as the rider is included.
More generous versions of two basic annuity features Access more of the funds sooner.
1. Enhanced penalty-free withdrawals After your first contract anniversary, you’ll be able to take out up to 20% of your beginning-of-year accumulation value penalty-free if no withdrawals other than ELB charges and strategy fees were taken in the prior year. 1
2. Return of premium Any time after your third contract year concludes, you may terminate the contract and receive no less than your contract’s net premium paid less any strategy fees. The net premium is equal to the total premium, reduced by all withdrawals on a dollar- for-dollar basis (excluding the rider cost) and any applicable premium tax.
Further flexibility when you may need it most Potentially activate two additional features based on activities of daily living (ADLs). ADL-based benefits do not require underwriting.
3. ADL-based surrender charge waiver
4. ADL-based payout benefit If the annuitant is unable to perform 2 of 6 ADLs after the second contract anniversary and otherwise qualify*, the owner may choose to draw an income over five years that is based on an enhanced accumulation value amount (percentage varies by contract year, see chart). This accumulation value multiplier increases the longer the funds are kept in the annuity, maxing out after six years.
If the annuitant is unable to complete two of the six ADLs after the issue date and otherwise qualify*, up to 100% of the accumulation value is available immediately with no surrender charges or market value adjustment. If 100% of the accumulation value is taken, it will be considered a full surrender and the contract will terminate.
Accumulation value multiplier
Contract years
1
N/A N/A 110% 115% 120%
2 3 4 5
6+ 125% Once elected, all other rights and benefits, including surrender value and death benefit, under the contract are terminated.
1. Known as the enhanced penalty-free partial surrender benefit within the rider under the contract *See page 7 for qualifications.
26351Z
6
REV 8-23
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