MD
● Terminated
Minimum Death Benefit Guarantee
CMFG Life Insurance Company
DTCC ID
—
COMPANY
CMFG Life Insurance Company
TYPE
Variable Annuity
INCEPTION
—
Identity
Benefit name
Minimum Death Benefit Guarantee
Internal benefit name
Minimum Death Benefit Guarantee
Company
Product policy type
Variable Annuity
Status
● Terminated
Sequence
4
Inception date
—
Closed date
May 01, 2009
DTCC Rider ID
—
Last modified
Sep 25, 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
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 by dollar-for-dollar amount.
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) contract value, 2) total purchase payments adjusted for withdrawals and applicable taxes, 3) highest contract value on any contract anniversary, 4) 5% Annual Guarantee Value, or 5) Minimum Death Benefit Guarantee. Minimum Death Benefit Guarantee benefit is greater of - 1) purchase payments reduced for withdrawals in same proportion, or 2) contract value as on date of death.
Lifecycle Events
Cancellation
Contact Issuer for details.
Termination
Contact Issuer for details.
Available when added
No longer available for new purchases.
Effect change ownership
Contact Issuer for details.