OG
● Terminated
Optional Guaranteed Minimum Death Benefit
Genworth Life and Annuity Insurance Company
DTCC ID
—
COMPANY
Genworth Life and Annuity Insurance Company
TYPE
Variable Annuity
INCEPTION
—
Identity
Benefit name
Optional Guaranteed Minimum Death Benefit
Internal benefit name
Optional Guaranteed Minimum Death Benefit
Product policy type
Variable Annuity
Status
● Terminated
Sequence
7
Inception date
—
Closed date
May 01, 2003
DTCC Rider ID
—
Last modified
Nov 05, 2025
Life & Age
Based on life
Annuitant
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
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 annuitant.
State Availability
Exception flag
No
Available in states
—
Benefit Description
Available during accumulation phase. Upon death of annuitant, benefit will be greater of - 1) Basic Death Benefit; or 2) Guaranteed Minimum Death Benefit. Basic Death Benefit is equal to - a) purchase payments adjusted for withdrawals; or b) contract value. If annuitant dies, guaranteed minimum death benefit will be equal to the premium payments received. Guaranteed minimum death benefit equals the lesser of - (a) total of all premium payments, multiplied by two, adjusted for any withdrawal; and (b) guaranteed minimum death benefit, with assets in the subaccounts increased by an effective annual rate of 6%, plus any additional premium payments adjusted for any withdrawal.
Lifecycle Events
Cancellation
May not be cancelled.
Termination
May not be terminated.
Available when added
No longer available for new purchases.
Effect change ownership
Change in ownership will result in termination of rider except under certain conditions.