GM
● Terminated
Guaranteed Minimum Death Benefit
PHL Variable Insurance Company
DTCC ID
—
COMPANY
PHL Variable Insurance Company
TYPE
Variable Annuity
INCEPTION
—
Identity
Benefit name
Guaranteed Minimum Death Benefit
Internal benefit name
Guaranteed Minimum Death Benefit
Company
Product policy type
Variable Annuity
Status
● Terminated
Sequence
2
Inception date
—
Closed date
Sep 01, 2009
DTCC Rider ID
—
Last modified
Mar 10, 2010
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
Withdrawals will reduce benefit base in same proportion.
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, prior to age 90, benefit will be greater of - 1) contract value, or 2) total purchase payments adjusted for withdrawals. If death occurs after age 91, benefit is equal to contract value.
Lifecycle Events
Cancellation
Benefit may automatically terminate under certain conditions.
Termination
Benefit will automatically terminate upon earliest of - 1) annuitization, 2) change in ownership, 3) termination of contract, or 4) contract value reduces to zero.
Available when added
Only at contract issue.
Effect change ownership
Change in ownership will result in termination of rider except under certain conditions.