EE
● Terminated
Earnings Enhancement Benefit
PHL Variable Insurance Company
DTCC ID
—
COMPANY
PHL Variable Insurance Company
TYPE
Variable Annuity
INCEPTION
—
Identity
Benefit name
Earnings Enhancement Benefit
Internal benefit name
Earnings Enhancement Benefit
Company
Product policy type
Variable Annuity
Status
● Terminated
Sequence
3
Inception date
—
Closed date
—
DTCC Rider ID
—
Last modified
Aug 09, 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
Subsequent purchase payment will increase benefit base by dollar-for-dollar amount.
Partial withdrawals
Withdrawals will reduce benefit base in same proportion.
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
Available during accumulation phase. Upon death of owner, benefit will be greater of -1) total purchase payment adjusted for withdrawal, or 2) contract value plus 40% (25% if owner age between 70 to 75 at rider issue) of relief amount. Relief amount equals contract value less modified purchase payments, not to exceed 200% (100% if owner age between 70 to 75 at rider issue) multiplied by - 1) sum of modified purchase payments, minus 2) sum of purchase payments. Modified Purchase Payments equal sum of all purchase payments made less any withdrawals.
Lifecycle Events
Cancellation
Once elected may not be cancelled.
Termination
Once elected may not be terminated.
Available when added
Only at contract issue.