RD
● Active
Rider Death Benefit
Midland National Life Insurance Company
DTCC ID
—
COMPANY
Midland National Life Insurance Company
TYPE
Indexed Annuity
INCEPTION
Jan 07, 2015
Identity
Benefit name
Rider Death Benefit
Internal benefit name
Rider Death Benefit
Product policy type
Indexed Annuity
Status
● Active
Sequence
2
Inception date
Jan 07, 2015
Closed date
—
DTCC Rider ID
—
Last modified
Jun 06, 2019
Life & Age
Based on life
Owner
Single life
No
Joint life
No
Min age
—
Max age
—
Rider select rule
Optional
Waiting period
—
Waiting term
—
Benefit Base
Maximum benefit base
—
Maximum benefit base %
—
With reduce benefit base
—
Subsequent premium
—
Partial withdrawals
—
Required min distributions
—
Coverage Flags
Exclude premium bonus
No
Spousal continuation option
Yes
Spousal continuation detail
Surviving spouse may elect to continue benefit after death of owner.
State Availability
Exception flag
No
Available in states
—
Benefit Description
The amount of the Rider Death Benefit will never be less than the Benefit Base Floor, less any proportional withdrawals. May take a 1) Lump Sum Option: lump sum if no withdrawals have been taken no less than the premium amount. No waiting period applies. or 2) Payout Option: opt to receive the remaining amount of the Benefit Base in equal installments over five years. Waiting period of 1 contract year applies.
Lifecycle Events
Available when added
Available with Guaranteed Lifetime Withdrawal Benefit