Document:

Exhibit 4.(iv)

 

EAGLE LIFE INSURANCE COMPANY

5000 Westown Parkway, West Des Moines, Iowa 50266

 

TERMINAL ILLNESS RIDER

WAIVER OF
SURRENDER CHARGES FOR TERMINAL ILLNESS

 

This Rider is part of the
Base Contract.  Rider(s), Base Contract
and attached application make up the entire Contract.  Base Contract No.: XXXXXXXX

 

DEFINITIONS

When We use these words,
we mean:

 

	
  Rider: 

  	
  This Rider

  
	
   

  	
   

  
	
  Base
  Contract:

  	
  The Contract to which
  this Rider is attached.

  
	
   

  	
   

  
	
  Notice:

  	
  Written proof of
  Annuitant’s Terminal Illness, a Qualified Physician signs, We receive and
  accept.  Notice must be supported by
  clinical, radiological, or laboratory evidence of the condition.  We may require another exam by a Qualified
  Physician of our choice at our expense.

  
	
   

  	
   

  
	
  Qualified
  Physician:

  	
  Any person, who is
  licensed as an MD or DO to practice medicine in the United States and who is
  not the Annuitant, Owner or any member of either family.

  
	
   

  	
   

  
	
  Terminal
  Illness:

  	
  Any disease or medical
  condition which a Qualified Physician expects will result in death within one
  year.

  

 

Other definitions as used
in the Base Contract, apply to this Rider.

 

RIDER BENEFIT

After the first Contract Year, You may take one
additional Penalty-free Withdrawal of up to 100% of the Contract Value under
the following circumstances:

 

1.                                       A Qualified Physician provides Notice s/he
has diagnosed the Annuitant as having a Terminal Illness;

 

2.                                       The diagnosis and Notice occur after the
first Contract Year ends; and

 

3.                                       All other Limitations under the Base
Contract apply.

 

1

 

TERMINATION

Rider terminates on
earliest of the date:

 

1.                                       The Base Contract matures;

 

2.                                       The Base Contract terminates;

 

3.                                       You take Your additional Withdrawal under
this Rider; or

 

4.                                       The Annuitant dies.*

 

* If the Annuitant is the
Owner, the beneficiary under the Base Contract is the Annuitant’s spouse, the
spouse opts to become the new Owner, and You have not taken Your additional
Withdrawal under this Rider, then this Rider will remain in effect under the
Ownership of the surviving spouse.

 

GENERAL

Unless stated otherwise,
all provisions and limitations of the Base Contract apply to this Rider.

 

EAGLE LIFE
INSURANCE COMPANY

WEST DES
MOINES, IOWA

 

 

	
  /s/ Debra J.
  Richardson

  	
   

  	
  /s/ David J.
  Noble

  
	
  Debra J.
  Richardson

  	
   

  	
  David J. Noble

  
	
       Secretary

  	
   

  	
      President

  

 

2Exhibit 4.(v)

 

EAGLE LIFE INSURANCE COMPANY

5000 Westown Parkway

West Des Moines, Iowa 50266

(888) 221-1234

 

LIFETIME INCOME BENEFIT RIDER

 

We attach this Rider
automatically to Your Indexed Annuity only if
Owner and Annuitant are the same person, unless Owner is not a natural
person.  Rider(s), Base Contract, and
attached Application make up the entire Contract.  Base Contract No. (SPECIMEN)

 

RIDER SPECIFICATIONS

 

	
  Income
  Account Value (IAV):

  	
   

  	
  [$106,000]

  
	
  IAV
  Rate:

  	
   

  	
  [3%-10%]

  
	
  IAV
  Period:

  	
   

  	
  [5-10] Contract Years

  
	
  Rider
  Fee:

  	
   

  	
  [0%-1.00%]

  

 

DEFINITIONS

 

	
  When We use
  these words, We mean:

  	
   

  	
   

  
	
  Rider:

  	
   

  	
  This Rider

  
	
  Base
  Contract:

  	
   

  	
  The Contract to which this Rider is attached.

  
	
  You/Your:

  	
   

  	
  Owner/Annuitant

  
	
  We/Our/Us:

  	
   

  	
  American Equity Investment Life Insurance Company

  

 

INCOME ACCOUNT VALUE (IAV): 
IAV is set
at issue and equals Total Initial Premium. 
Before LIB payments begin We add any Additional Premiums paid to Your
IAV when We receive them.  Your IAV grows
at IAV Rate until the earliest of the end of the IAV Period or the date LIB
payments begin.  See Page 2 for
affect of Withdrawals on IAV.

 

After
LIB payments begin, IAV Rate is no longer credited to Your IAV.  Additional premiums may still be paid and
added to Contract Value and IAV. 
Contract Value will continue to function as described under Your Base
Contract.

 

IAV Rate:  The annual
effective interest rate shown above.  IAV
Rate is set at issue and cannot be changed. 
Your IAV grows at this rate annually.

 

IAV Period: 
The period
of Contract Years shown above during which Your IAV grows at IAV Rate.  When IAV Period ends, Your IAV is no longer
credited with IAV Rate but you may still elect an LIB.

 

Restart:  You may
Restart Your IAV Period only once on any
Contract Anniversary between the 5th and 10th Contract Anniversaries by Notifying Us.  IAV for the new IAV Period is the greater of
Your current IAV and Contract Value under the Base Contract on the Contract
Anniversary when the new IAV Period begins.

 

Rider Fee:  The percentage We use to determine the Rider Charge.  Rider Fee remains level unless You Restart a
new IAV Period, at which point We reserve the right to change the Rider Fee.

 

Rider Charge:  The amount  We deduct from the Values of Your Base Contract on each Contract
Anniversary for as long as this Rider is active and Your Contract Value is
greater than zero.  The Rider Charge
equals the Rider Fee multiplied by Your Contract Value on each Contract
Anniversary.

 

Step-Up:  On the day
before LIB payments begin, if Contract Value is greater than IAV, We increase
IAV to equal  Contract Value.

 

1

 

After
LIB payments begin, if Contract Value on any Contract Anniversary exceeds IAV,
We increase IAV to equal Contract Value and apply applicable Guaranteed Income
Percentage shown on Page 2.  If
resulting LIB payment amount is greater than current LIB payment amount, LIB
payment will increase to new amount.

 

LIFETIME INCOME BENEFIT (LIB):  At any time after the later of the first Contract Year
or Your 50th birthday, by Notifying Us, You may elect to
receive LIB payments.  The guaranteed
annual LIB amount equals Your IAV on the day payments begin, multiplied by the
Guaranteed Income Percentage of IAV applicable to Your Age at election as shown
below:

 

Benefit
Payout Percentage

 

	
  Payee’s

  Minimum

  Age at election of LIB

  	
   

  	
  Single
  Life

  Payout

  Percentage

  	
   

  	
  Joint Life

  Payout

  Percentage

  
	
  [50-59]

  	
   

  	
  [4%]

  	
   

  	
  [3.5%]

  
	
  [60-69]

  	
   

  	
  [5%]

  	
   

  	
  [4.5%]

  
	
  [70-79]

  	
   

  	
  [6%]

  	
   

  	
  [5.5%]

  
	
  [80+]

  	
   

  	
  [7%]

  	
   

  	
  [6.5%]

  

 

You
may choose to receive your guaranteed annual LIB amount in equal monthly, quarterly, semi-annual
or annual payments, guaranteed for the rest of Your life.

 

If
You select Joint Life Payout, Joint Payees must be Spouses, and we base LIB
payment amount on Age of younger Joint Payee. 
This benefit guarantees LIB payments until death of the last surviving
Joint Payee.

 

Once
LIB payments begin the Benefit Payout Percentage is locked in for Payee’s
life.  The Guaranteed Annual LIB may
increase due to Step-Up.  Guaranteed
Annual LIB payments will never decrease unless Excess Withdrawals (EWs) occur,
as described below.

 

You
may start and stop LIB payments at any time. 
If restarted, We resume LIB payments based on original Guaranteed Income
Percentage applied to Your current IAV.

 

If
Contract Value under Base Contract becomes zero due solely to subtraction of
LIB payments, LIB payments will continue for the rest of Your life.  The Base Contract will no longer accept
Additional Premiums and IAV will not continue to grow at IAV Rate.

 

WITHDRAWALS:
Affect on
Contract Value, IAV, and future LIB payments.

 

1.                                      Withdrawals — Any Withdrawals taken under Base
Contract before LIB payments begin reduce the IAV under this Rider on a
pro-rata basis.  That is, if a Withdrawal
reduces the Contract Value under the Base Contract by 10%, the IAV under this
Rider also reduces by 10%

 

2.                                      LIB payments taken under this Rider reduce IAV and
Contract Value on a dollar for dollar basis.

 

3.                                      If Withdrawals,
in combination with LIB payment, exceed, in any one Contract Year, the 10%
Penalty-free Withdrawal amount allowed under Your Base Contract, then
applicable Surrender Charges and MVA apply to the amount in excess of the
Penalty-free amount allowed.

 

2

 

4.                                      Excess Withdrawals (EWs) - Withdrawals taken under Base Contract after
LIB payments begin in addition to Your LIB payment, reduce future LIB payment amounts by the same percentage
the Withdrawal reduced the Contract Value as shown below:

Immediately
following an EW, the LIB payment amount equals:

A(1 –
B / C) where:

A = LIB payment amount before an EW;

B = Amount of the EW; and

C = Contract Value immediately before an EW.

If EWs reduce Contract Value to zero, IAV also
reduces to zero, this Rider terminates, and LIB payments stop.  EWs reduce IAV on a dollar-for-dollar basis.

 

5.                                      Required Minimum
Distribution (RMD) Withdrawals — If, in any given year, the RMD Withdrawal exceeds the
annual LIB payment, the amount
by which the RMD Withdrawal exceeds the annual LIB payment is not an EW.

Withdrawals are
subject to taxation and if taken before 591⁄2 may be subject to a 10% IRS
penalty.

 

DEATH BENEFIT:

This Rider Terminates at Your death unless Your surviving spouse is the
sole beneficiary under the following conditions:

1.               If You die before LIB payments begin, Your spouse may
step in to the Base Contract, and if age 50 or older this Rider will continue
with the Base Contract; or

2.               If LIB payments have already begun, Your
surviving spouse is eligible to receive:

a.               The current Contract Value in a lump sum;
or

b.              The remaining IAV in a series of payments of up to 6%
of IAV, based on spouse’s age at date of step-in, until the IAV is depleted to
zero.

 

TERMINATION:

Rider
terminates on earliest of the date:

1.              You choose to cancel the Rider;*

2.              You, die without surviving spouse as sole beneficiary;

3.              IAV becomes zero due to EWs;

4.              You Surrender Base Contract;

5.              You Annuitize Base Contract;

6.              Owner and Annuitant are no longer the same person; or

7.              You die and spouse is not at least Age
50.

 

*Once
terminated You cannot Restart this Rider.

 

GENERAL:

Unless
stated otherwise in this Rider, all provisions and limitations of the Base
Contract apply to this Rider.

 

SIGNED AT

EAGLE LIFE INSURANCE COMPANY

WEST DES MOINES, IOWA

 

	
  /s/ Debra J. Richardson

  	
   

  	
  /s/ David J. Noble

  
	
  Debra J. Richardson

  	
   

  	
  David J. Noble

  
	
  Secretary

  	
   

  	
  President

  

 

3

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