Exhibit 4 (b)
GUARANTEED MINIMUM WITHDRAWAL BENEFIT RIDER
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THIS RIDER IS PART OF THE CONTRACT TO WHICH IT IS ATTACHED. IT IS SUBJECT TO THE
TERMS, CONDITIONS, AND PROVISIONS CONTAINED IN THE CONTRACT. THE PROVISIONS OF
THIS RIDER WILL SUPERSEDE ANY CONFLICTING PROVISIONS OF THE CONTRACT.
DEFINITIONS BENEFIT
BASE. The amount upon which the guaranteed
minimum withdrawal benefit is calculated. If this rider's
effective date is on the date of issue, the Benefit Base
is equal to the initial contribution paid. If this
rider's effective date is after the date of issue, the
Benefit Base is equal to the Contract Value on the
effective date.
CONTRACT. When this rider is attached to a Certificate
issued under a Group Contract, "Contract" herein means
the Certificate. Otherwise, "Contract" may refer to
either an individually issued Contract or Policy.
YOU, YOUR. The Owner of the Contract.
WITHDRAWAL LIMIT. An amount equal to a percentage
(as shown on the Information page) of the Benefit Base.
Any change in the Benefit Base will result in a change in
the Withdrawal Limit.
EFFECTIVE DATE This rider is effective on the date of purchase.
BENEFIT This rider allows You to withdraw an amount up to the
Withdrawal Limit each Contract year regardless of Your
Contract Value. On each Contract anniversary, if the
Contract Value is greater than the Benefit Base, the
Benefit Base will immediately be increased to equal the
Contract Value as of that date resulting in an increased
Withdrawal Limit.
If any additional contributions are added to the
Contract, the Benefit Base will be recalculated to be
the greater of the Benefit Base immediately prior to the
contribution payment, or the Benefit Base immediately
prior to the contribution payment, less all prior
withdrawals, plus the contribution payment.
Withdrawals in excess of the Withdrawal Limit in a given
Contract year will result in a recalculation of the
Benefit Base as follows:
o If the withdrawal exceeds the sum of the
Withdrawal Limit and any accumulated unused
guaranteed withdrawal benefits, the Benefit Base
will be recalculated to equal the lesser of the
Benefit Base prior to the withdrawal or the
Contract Value immediately after the withdrawal.
o If the withdrawal exceeds the Withdrawal Limit
but is less than or equal to the sum of the
Withdrawal Limit and any accumulated unused
guaranteed withdrawal benefits and prior
withdrawals have not exceeded the Withdrawal
Limit and any accumulated unused guaranteed
withdrawal benefits, the Benefit Base will be
recalculated to equal the greater of a) the
lesser of the Benefit Base prior to the
withdrawal or the Contract Value immediately
after the withdrawal, and b) the initial
Contract Benefit Base.
o If the withdrawal exceeds the Withdrawal Limit
but is less than or equal to the sum of the
Withdrawal Limit and any accumulated unused
guaranteed withdrawal benefits, and prior
withdrawals have exceeded the Withdrawal Limit
and any accumulated unused guaranteed withdrawal
benefits, the Benefit Base will be recalculated
to equal the lesser of the Benefit Base prior to
the withdrawal or the Contract Value immediately
after the withdrawal.
This provision applies to all withdrawals, including
withdrawals of accumulated unused guaranteed withdrawal
benefits, and may result in a reduction of future
guaranteed withdrawal benefit amounts.
COST OF RIDER Any fee for this rider is shown in the amount
and frequency stated on the Information page. That fee is
based on Your subaccount value and deducted from any
subaccounts on a pro-rata basis.
TERMINATION OF RIDER This rider terminates upon the earliest of: Contract
termination, annuitization, receipt of due proof of death
of the first Owner to die (unless the spouse of the first
Owner to die elects to continue the Contract and the
spousal charge for this rider was in effect prior to the
death of the first Owner to die) or the death of the
annuitant, if a nonnatural person is the Contract Owner.
NONPARTICIPATING Dividends are not payable.
[OM FINANCIAL LIFE INSURANCE COMPANY]
Xxxxx X. Xxxxxx Xx.
President]
DOLLAR COST AVERAGING FIXED INTEREST OPTION RIDER
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THIS RIDER IS PART OF THE CONTRACT TO WHICH IT IS ATTACHED. IT IS SUBJECT TO THE
TERMS, CONDITIONS, AND PROVISIONS CONTAINED IN THE CONTRACT. THE PROVISIONS OF
THIS RIDER WILL SUPERSEDE ANY CONFLICTING PROVISIONS OF THE CONTRACT. THERE IS
NO FEE FOR THIS RIDER.
DEFINITIONS CONTRACT. When this rider is attached to a
Certificate issued under a Group Contract,
"Contract" herein means the Certificate.
Otherwise, "Contract" may refer to either an
individually issued Contract or Policy.
YOU, YOUR. The Owner of the Contract.
EFFECTIVE DATE This rider is effective on the Contract's date
of issue.
BENEFIT This rider provides dollar cost averaging fixed
interest options to Your Contract, and any
contribution allocated will receive fixed
interest credits.
CONTRACT VALUE For any contribution allocated to a
dollar cost averaging option, the contract
value equals:
o any contributions allocated to this
option; less
o any transfers to any subaccounts,
including any charges; plus
o any interest credited on this option's
contract value.
INTEREST CREDITING This option's contract value will be credited
with an interest rate described herein. Interest
is credited daily and applied to this option's
contract value from the date of issue at a rate
which is never less than the guaranteed minimum
interest rate shown on the Information page. The
Information page shows the effective annual
interest rate being credited to the applicable
portion of the initial contribution and the
period of time for which that rate is
guaranteed. Any additional contributions
received in a given year will be credited with
the then current interest rate and will be
guaranteed for a period chosen by You and
available for this purpose.
TERMINATION OF RIDER This rider terminates on Contract termination.
NONPARTICIPATING Dividends are not payable.
Signed for the Company.
[OM FINANCIAL LIFE INSURANCE COMPANY]
/s/ Xxxxx X. Xxxxxx Xx.
President]
GUARANTEED MINIMUM DEATH BENEFIT RIDER
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THIS RIDER IS PART OF THE CONTRACT TO WHICH IT IS ATTACHED. IT IS SUBJECT TO THE
TERMS, CONDITIONS, AND PROVISIONS CONTAINED IN THE CONTRACT. THE PROVISIONS OF
THIS RIDER WILL SUPERSEDE ANY CONFLICTING PROVISIONS OF THE CONTRACT.
DEFINITIONS CONTRACT. When this rider is attached to a Certificate
issued under a Group Contract, "Contract" herein means
the Certificate. Otherwise, "Contract" may refer to
either an individually issued Contract or Policy.
YOU, YOUR. The Owner of the Contract.
EFFECTIVE DATE This rider is effective on the Contract's date of issue.
BENEFIT Upon death of the first Owner to die, the death benefit
payable will be the greater of the Contract Value or the
contributions paid less adjustment for withdrawals. The
amount of any adjustment for withdrawals is equal to the
amount withdrawn divided by the Contract Value at the
time of withdrawal.
COST OF RIDER Any fee for this rider is shown in the amount
and frequency stated on the Information page. That fee
is based on your subaccount value and deducted from any
subaccounts on a pro-rata basis.
TERMINATION OF RIDER This rider terminates upon on the earlier of:
Contract termination; annuitization; and receipt of due
proof of death of the first Owner to die except under
spousal continuation. (See below)
SPOUSAL CONTINUATION Upon your death, if Your spouse elects to continue the
Contract, and is within the then current issue age range
for the product, the benefits provided under this rider
will renew. On the date we receive due proof of death of
the first Owner to die, the Contract value will be
increased to equal the death benefit payable as defined
in this rider. That Contract value will serve as the
initial contribution for the continued death benefit
calculation. Upon the death of the surviving Owner, the
death benefit payable will be the greater of the
Contract Value at the time we receive due proof of death
and the Contract value as of the date we received due
proof of death of the first Owner to die, less
adjustment for any withdrawals taken after the death of
the first Owner to die.
NONPARTICIPATING Dividends are not payable.
Signed for the Company.
[OM FINANCIAL LIFE INSURANCE COMPANY]
Xxxxx X. Xxxxxx Xx.
President]
GUARANTEED MINIMUM DEATH BENEFIT RIDER
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THIS RIDER IS PART OF THE CONTRACT TO WHICH IT IS ATTACHED. IT IS SUBJECT TO THE
TERMS, CONDITIONS, AND PROVISIONS CONTAINED IN THE CONTRACT. THE PROVISIONS OF
THIS RIDER WILL SUPERSEDE ANY CONFLICTING PROVISIONS OF THE CONTRACT.
DEFINITIONS ACCUMULATION RATE. The rate that the guaranteed minimum
death benefit (GMDB) accumulates as shown on the
Information page.
CONTRACT. When this rider is attached to a Certificate
issued under a Group Contract, "Contract" herein means
the Certificate. Otherwise, "Contract" may refer to
either an individually issued Contract or Policy.
YOU, YOUR. The Owner of the Contract.
WITHDRAWAL LIMIT. A percentage of the GMDB as shown on
the Information page.
EFFECTIVE DATE This rider is effective on the Contract's date of issue.
BENEFIT This rider establishes a GMDB which increases over time.
The initial GMDB equals the initial contribution and
accumulates overtime at the accumulation rate. Upon
death of the first Owner to die, the death benefit
payable will be the greater of the Contract Value or the
GMDB.
The GMDB equals any contributions paid, less adjustments
for any withdrawals, plus interest credited at the
accumulation rate.
Additional contributions increase the GMDB by an amount
equal to the additional contribution.
Withdrawals within a Contract year that are less than
the withdrawal limit will reduce the GMDB by an amount
equal to the withdrawal amount. Withdrawals (or any
portion of a withdrawal) within a Contract year that
exceed the withdrawal limit will reduce the GMDB by a
percentage equal to (a) the amount of the withdrawal in
excess of the withdrawal limit, divided by (b) the
Contract Value immediately preceding the withdrawal.
COST OF RIDER Any fee for this rider is shown in the amount
and frequency stated on the Information page. That fee
is based on Your subaccount value and deducted from any
subaccounts.
TERMINATION OF RIDER This rider terminates upon on the earlier of:
Contract termination; annuitization; and receipt of due
proof of death of the first Owner to die except under
spousal continuation. (See below)
SPOUSAL CONTINUATION Upon your death, if Your spouse elects to continue the
Contract, and is within the then current issue age range
for the product, the benefits provided under this rider
will renew. On the date we receive due proof of death of
the first Owner to die, the Contract value will be
increased to equal the death benefit payable as defined
in this rider. That Contract value will serve as the
initial GMDB for the continued death benefit
calculation. Upon the death of the surviving Owner, the
death benefit payable will be the greater of the
Contract Value or the GMDB at the time we receive due
proof of death.
NONPARTICIPATING Dividends are not payable.
Signed for the Company.
[OM FINANCIAL LIFE INSURANCE COMPANY]
Xxxxx X. Xxxxxx Xx.
President]
