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Confinement Waiver of Withdrawal Charges•100% of the account value is available after the first contract year
•Requires 60 consecutive days of confinement
The Annuitant or one of the Joint Annuitants must meet all of the following conditions:
• The Annuitant or Joint Annuitant is confined to a hospital, hospice facility, or convalescent care facility for at least 60 consecutive days.
• The Annuitant or Joint Annuitant‘s confinement begins one year after the contract date.
• The withdrawal request is received by the company no later than 90 days following the date the qualifying confinement has ceased.
• Confinement in a hospital, hospice facility, or convalescent care facility is recommended by a physician who is duly licensed by the state to treat the injury or sickness and is not employed by that facility.
• The withdrawal request is accompanied by written proof of confinement and the physician's recommendation.
Convalescent care means an institution:
• Is licensed by the state as a convalescent nursing facility.
• Is primarily engaged in providing continuous nursing services by, or under
physician or licensed registered nurse (RN).
• Keeps daily records on each patient.
• Administers a planned program of observation and treatment by the physician.
Hospice facility means an institution that provides a formal program of care for terminally ill patients.
• The patient's life expectancy is less than 6 months.
• Care is provided on an inpatient basis and directed by a physician.
• Facility must be licensed, certified, or registered in accordance with state law.
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