BD
● Active
Basic Death Benefit
Midland National Life Insurance Company (Sammons Retirement Solutions)
DTCC ID
—
COMPANY
Midland National Life Insurance Company (Sammons Retirement Solutions)
INCEPTION
May 05, 2020
CLOSED
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Identity
Benefit name
Basic Death Benefit
Internal benefit name
Basic Death Benefit
Status
● Active
Inception date
05 May 2020
Closed date
—
Description & Notes
Benefit description
Available during the accumulation phase. Upon death of owner, death benefit is greater of the 1) Accumulation Value or 2) Minimum Surrender Value. Increased by any interest credits and reduced by any taxes, if applicable. No Annual Performance Credit or Term Participation Credit will apply if death occurs before the end of the relevant year or term.