Market value adjustment
If the withdrawal amount exceeds the penalty- free withdrawal benefit, the entire amount will be subject to any applicable surrender charge and market value adjustment. This rider replaces the accumulated-interest penalty- free withdrawal benefit included in the base contract. Enhanced Benefit Rider: This rider lets you withdraw up to 100% of the accumulation value for one of the following situations: Terminal illness diagnosis, defined as a medical condition that results in an expected life span of 12 months or less Qualifed nursing care facility confinement, including a hospital or hospice, intermediate or skilled nursing facilities This rider is subject to a one-year benefit ineligibility period and will terminate upon a change of ownership, except for spousal continuation following the death of an owner.
Market value adjustments (MVA) apply to full or partial surrenders in excess of the free partial surrender amount during the guarantee period. This may increase or decrease the cash surrender value or a withdrawal amount, depending on whether the MVA index rate increases or decreases after the effective date.
Optional riders
5% Free Withdrawal Rider: In any year during your contract, this rider waives surrender charges and market value adjustments for your first withdrawal up to whichever is greater:
5% of the accumulation value as of your last contract anniversary
1
The required minimum distribution in your contracts 2
6
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