The contract owner may receive guaranteed lifetime income withdrawals without annuitizing, which may begin any time after the second contract year and age 50. Withdrawal amounts are based on all premium, plus a 10% first-year Benefit-Base bonus on premiums paid, less withdrawals, increased each contract anniversary by 4%, plus the weighted average of index and interest credit for up to 10 years. Income withdrawals may be stopped and restarted, and will continue even if the accumulation value is depleted. This rider has an annual charge.
The Rider must be elected at issue.
Annual fee of 0.95% of accumulation value, deducted on each contract anniversary proportionately from each crediting account.
The income-withdrawal amount equals the Benefit Base multiplied by the Income Withdrawal Percentage. The Benefit Base includes all premium, plus a 10% first-year Benefit-Base bonus on premiums paid, less withdrawals, increased each contract anniversary by 4%, plus the weighted average of index and interest credit for up to 10 years or the start of income withdrawals, if earlier. The Benefit Base is only used to calculate the income withdrawal amount; it is not available upon surrender, death or annuitization. Contact your EquiTrust agent for the current Income Withdrawal Percentages.
Rider may be terminated upon the owner’s request. Once the Rider is terminated, it cannot be restarted.
In the event of a full surrender, charges will apply to any penalty-free amounts taken during the same contract year. Withdrawals before age 59½ may result in a 10% IRS penalty tax. Withdrawals do not participate in index growth. Withdrawals prior to starting income withdrawals will reduce the Benefit Base proportionately. Annuitization prior to the Income Date not offered in TX.