EstateShield 9 Lifetime Income Benefit Rider Offers Lifelong Income at No Fee
Lifetime Income Benefit Rider (LIBR) The LIBR is automatically included with the contract. This provides security through a stream of income payments to the owner. Income payments are guaranteed for life, subject to the withdrawal provisions of the rider. It also allows for continued access to contract values, and the flexibility to start and stop income payments. In addition, an Enhanced Death Benefit, which may provide a greater benefit than the base contract, is included with the LIBR. Income Payments To help build retirement assets into an income stream that cannot be outlived, the EstateShield 9 has two built-in benefits designed to deliver continued benefit growth.
Benefits Account Value (BAV) Bonus: Starting year one, a BAV Bonus is applied to every dollar paid in the first 12 months. This is an immediate increase to your BAV, which is used to calculate lifetime income payments and benefits. BAV Multiplier: Each year after, any interest credited to the contract value is increased by the BAV Multiplier. Lifetime income withdrawals can begin after 10 years, or can be left
to continue to grow for as long as you want. Potential for Income Payment Increases
When lifetime income payments begin, payouts can continue to increase with the BAV Multiplier. The annual income payment amount will be increased by an amount equal to the current annual income payment multiplied by the BAV growth rate.
LIBR Payout Factors Lifetime income payments can begin on the day after the tenth contract anniversary date, or later. The amount of income available will depend on multiple factors, such as the amount of time the BAV grows, age at the time payments begin and the frequency of the payment option chosen. The table below lists the lifetime income payout factors, by age, for both single and joint lifetime income payments.
Payout Factors by Age
Age
Single
Joint
50-59
4.50%
4.00%
60-69
5.00%
4.50%
70-79
5.50%
5.00%
80+
6.00%
5.50%
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