Annuity Death Benefits & RNRB

Hi all,

Just a query regarding an annuity guaranteed period or value protection.
On death, I understand that (in most cases) the protected value or calculated protected amount of the guarantee will be the amount in the deceased's estate.
With regard to calculating available RNRB and the tapering of this relief, is the value of the annuity death benefits included in the estate for the calculation of the RNRB tapering, or would the value come in after this point?
I would assume it is the former, and that the RNRB would be affected by this value, unlike gifting is.

For clarity. e.g:
Client estate of £2,000,000 (excluding value protection amount of the annuity)
RNRB and transferred RNRB of £350,000 available
Annuity protected value on death of £200,000

So would the RNRB remain at £350,000 or would it now be calculated as estate of £2,200,000 and so an available RNRB of £250,000 following tapering?