BD
● Terminated
Basic Death Benefit
Union Security Insurance Company
DTCC ID
—
COMPANY
Union Security Insurance Company
TYPE
Variable Annuity
INCEPTION
—
Identity
Benefit name
Basic Death Benefit
Internal benefit name
Basic Death Benefit
Company
Product policy type
Variable Annuity
Status
● Terminated
Sequence
1
Inception date
—
Closed date
May 01, 2009
DTCC Rider ID
—
Last modified
Jul 29, 2020
Life & Age
Based on life
Owner (or Annuitant if owner is a natural entity)
Single life
No
Joint life
No
Min age
—
Max age
—
Rider select rule
Mandatory
Waiting period
—
Waiting term
—
Benefit Base
Maximum benefit base
—
Maximum benefit base %
—
With reduce benefit base
—
Subsequent premium
—
Partial withdrawals
—
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 or annuitant, benefit will be greatest of - 1) contract value, 2) rollup amount, or 3) highest contract value calculated on any contract anniversary, prior to death or owner's or 75th birthday, if later. Rollup amount is equal to total purchase payments adjusted for withdrawal, compounded at 5% annually until owner's 75th birthday, capped at 200% of total purchase payments adjusted for withdrawals.
Lifecycle Events
Cancellation
May not be cancelled.
Termination
May not be terminated.
Available when added
Only at contract issue.