BD
● Terminated
Basic Death Benefit
Talcott Resolution Life Insurance Company
DTCC ID
—
COMPANY
Talcott Resolution Life Insurance Company
TYPE
Variable Annuity
INCEPTION
—
Identity
Benefit name
Basic Death Benefit
Internal benefit name
Basic Death Benefit
Product policy type
Variable Annuity
Status
● Terminated
Sequence
1
Inception date
—
Closed date
Apr 30, 2013
DTCC Rider ID
—
Last modified
Sep 26, 2019
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
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
—
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 greater of - 1) contract value, or 2) total purchase payments adjusted for withdrawals and applicable taxes. Withdrawals will reduce benefit base by dollar amount basis for any portion of withdrawals within a contract year up to 10% of aggregate purchase payments. Any withdrawal that causes cumulative withdrawal during the contract year to exceed 10% of purchase payments, the adjustment is dollar amount of the withdrawal that does not exceed 10% of purchase payments, and adjustment for the remaining portion is a factor applied to portion of Premium Payments that exceed 10% of purchase payments.
Lifecycle Events
Cancellation
May not be cancelled.
Termination
May not be terminated.
Available when added
Only at contract issue.