ED
● Active
Enhanced Death Benefit
American Equity Investment Life Insurance Company
DTCC ID
—
COMPANY
American Equity Investment Life Insurance Company
TYPE
Indexed Annuity
INCEPTION
Jul 21, 2021
Identity
Benefit name
Enhanced Death Benefit
Internal benefit name
Enhanced Death Benefit
Product policy type
Indexed Annuity
Status
● Active
Sequence
2
Inception date
Jul 21, 2021
Closed date
—
DTCC Rider ID
—
Last modified
Aug 17, 2021
Life & Age
Based on life
Owner (or Annuitant if owner is a non-natural person)
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
Withdrawals reduces the death benefit amount on proportional basis.
Required min distributions
—
Coverage Flags
Exclude premium bonus
No
Spousal continuation option
Yes
Spousal continuation detail
Surviving spouse may elect to continue the rider after the death of owner.
State Availability
Exception flag
No
Available in states
—
Benefit Description
Available during accumulation phase, upon the death, beneficiary may elect to receive Enhanced Death Benefit in place of the Basic Death Benefit available under the base contract. Enhanced Death Benefit will never fall below the contract value as on the date of death and is greater of 1) 125% of Surrender value under the contract and 2) Purchase payments less any withdrawals, accumulated at 10% annual effective rate; not to exceed 250% of all premiums received less withdrawals.
Lifecycle Events
Termination
Rider gets terminated with termination of LIBR rider
Available when added
Only at contract issue with Lifetime Income Benefit Rider.