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Variable Annuity
Death benefits
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Nirmala
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New York Life Insurance and Annuity Corporation
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Death Benefits
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Enhanced Beneficiary Benefit
Edit Death Benefit
Death Benefit
Benefit Name
Internal Benefit Name
Inception Date
Closed Date
Rider Select Rule
Default
Mandatory
Optional
Based On Life
Annuitant
Owner
Owner (or Annuitant if owner is a natural entity)
Owner (or Annuitant if owner is a non-natural person)
Owner and Annuitant
Min Age
Max Age
Waiting Period
Waiting Term
Select
Age
Contract year
Days
Months
Years
Version Begin Date
Maximum Benefit Base
Maximum Benefit Base %
With Reduce Benefit Base
Select
Dollar for Dollar
Proportionally
DTCC Rider ID
Notes
Version Note
Benefit Description
Available during accumulation phase only. Upon death of owner or annuitant, Issuer will add 50% of earnings (25% if oldest owner or annuitant's age is between 71 and 75) to any death benefit payable under contract. Earnings are equal to contract value less adjusted purchase payments. If total purchase payments adjusted for withdrawals exceed contract value no earnings benefit will be paid. Applicable percentage can never be less than 40% (20% if owner or annuitant's age is 71 to 75) of earnings or greater than 60% (40% if owner or annuitant's age is 71 to 75) of earnings. Benefit base can never be more than 100% (75% if owner or annuitant's age is between 71 and 75) of adjusted purchase payments.
Other Info
Cancellation
Once elected may not be cancelled.
Termination
Once elected may not be terminated.
Available When Added
Only at contract issue.
Effect Change Ownership
Change in ownership will result in termination of rider.
Exclude Premium Bonus
Terminated
Single Life
Joint Life
Spousal Continuation Option
Spousal Continuation Option
Exception
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