ED
● Active
Enhanced Death Benefit
Midland National Life Insurance Company
DTCC ID
—
COMPANY
Midland National Life Insurance Company
TYPE
Indexed Annuity
INCEPTION
Feb 25, 2020
Identity
Benefit name
Enhanced Death Benefit
Internal benefit name
Enhanced Death Benefit
Product policy type
Indexed Annuity
Status
● Active
Sequence
2
Inception date
Feb 25, 2020
Closed date
—
DTCC Rider ID
—
Last modified
Oct 07, 2020
Life & Age
Based on life
Annuitant
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
No
State Availability
Exception flag
No
Available in states
—
Benefit Description
The Enhanced Death Benefit is equal to the Benefit Base, as of the date of death, paid out in a series of equal periodic payments over the Enhanced Death Benefit Payment Period (5 years). The Maximum Rider Death Benefit amount is equal to the greater of a) 125% of the surrender value, or b) 250% of the total premium, less gross partial surrender.
Lifecycle Events
Termination
Rider terminates upon termination of the Withdrawal Benefit Rider.
Available when added
Only available with Withdrawal Benefit rider