HD
● Terminated
Highest Daily Value Death Benefit
Everlake Life Insurance Company
DTCC ID
—
COMPANY
Everlake Life Insurance Company
TYPE
Variable Annuity
INCEPTION
—
Identity
Benefit name
Highest Daily Value Death Benefit
Internal benefit name
Highest Daily Value Death Benefit
Company
Product policy type
Variable Annuity
Status
● Terminated
Sequence
3
Inception date
—
Closed date
May 01, 2009
DTCC Rider ID
—
Last modified
Oct 26, 2020
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
Issuer will recalculate benefit base upon subsequent purchase payments.
Partial withdrawals
Withdrawals will reduce benefit base in same proportion.
Required min distributions
Contact Issuer for details.
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
Available during accumulation phase. Upon death of owner or annuitant, benefit will be greatest of - 1) total purchase payments adjusted for withdrawal, 2) contract value, or 3) Highest Daily Value. Initially highest daily value is equal to purchase payment, thereafter on any valuation day, equal to greater of - 1) previous highest daily value, or 2) contract value on each valuation day prior to target date adjusted for withdrawals and subsequent payments made since that date. Target date is later of - 1) contract anniversary following annuitant or owner's 80th birthday, or 2) 5th contract anniversary.
Lifecycle Events
Cancellation
Once elected may not be cancelled.
Termination
Once elected may not be terminated.
Available when added
No longer available for new purchases.
Effect change ownership
Change in ownership will not change benefit base.