Common use of Ratchet to Benefit Base during the Withdrawal Phase Clause in Contracts

Ratchet to Benefit Base during the Withdrawal Phase. On each Ratchet Date, the Benefit Base automatically adjusts to the greater of: • the current Benefit Base; and • the current Covered Fund Value. Great-West will not automatically increase Installments to reflect a Ratchet. If the maximum XXX amount is increased by Ratchet, Great-West will increase Installments only if directed to do so by the Owner.

Ratchet to Benefit Base during the Withdrawal Phase. On each Ratchet Date, the Benefit Base automatically adjusts to the greater of: • the current Benefit Base; and • the current Covered Fund Value. Great-West of New York will not automatically increase Installments to reflect a Ratchet. If the maximum XXX amount is increased by Ratchet, Great-West of New York will increase Installments only if directed to do so by the Owner.

Ratchet to Benefit Base during the Withdrawal Phase. On each Ratchet Date, the Benefit Base automatically adjusts to the greater of: • the current Benefit Base; and • the current Covered Fund Value. Great-West GWL&A of NY will not automatically increase Installments to reflect a Ratchet. If the maximum XXX amount is increased by Ratchet, Great-West GWL&A of NY will increase Installments only if directed to do so by the OwnerGLWB Participant.

Ratchet to Benefit Base during the Withdrawal Phase. On each Ratchet Date, the Benefit Base automatically adjusts to the greater of: • the current Benefit Base; and • the current Covered Fund Value. Great-West will not automatically increase Installments to reflect a Ratchet. If the maximum XXX amount is increased by Ratchet, Great-West will increase Installments only if directed to do so by the OwnerGLWB Participant.