GE
● Terminated
GWBL Enhanced Death Benefit
Equitable Financial Life Insurance Company of America
DTCC ID
—
COMPANY
Equitable Financial Life Insurance Company of America
TYPE
Variable Annuity
INCEPTION
—
Identity
Benefit name
GWBL Enhanced Death Benefit
Internal benefit name
GWBL Enhanced Death Benefit
Product policy type
Variable Annuity
Status
● Terminated
Sequence
5
Inception date
—
Closed date
—
DTCC Rider ID
—
Last modified
Jul 18, 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
Issuer will recalculate benefit base upon partial withdrawal.
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
Benefit is only available in conjunction with Guaranteed Withdrawal Benefit for Life. Upon death of owner, benefit will be greater of - 1) contract value, or 2) GWBL enhanced death benefit base. Benefit base equals initial purchase payment increased by - 1) purchase payments made, 2) 5% deferral bonus, 3) benefit base increases to equal to contract value if GWBL benefit base is ratcheted and 4) reduced for withdrawals.
Lifecycle Events
Cancellation
Once elected may not be cancelled.
Termination
Once elected may not be terminated.
Available when added
Upon election of Guaranteed Withdrawal Benefit for Life.
Effect change ownership
Change in ownership will result in termination of rider.