IA
● Terminated
i4LIFE Advantage - Guarantee of Principal Death Benefit
Lincoln Life & Annuity Company of New York
DTCC ID
—
COMPANY
Lincoln Life & Annuity Company of New York
TYPE
Variable Annuity
INCEPTION
—
Identity
Benefit name
i4LIFE Advantage - Guarantee of Principal Death Benefit
Internal benefit name
i4LIFE Advantage - Guarantee of Principal Death Benefit
Product policy type
Variable Annuity
Status
● Terminated
Sequence
2
Inception date
—
Closed date
—
DTCC Rider ID
—
Last modified
Aug 07, 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 Payments are not permitted.
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
Contact Issuer for details.
State Availability
Exception flag
No
Available in states
—
Benefit Description
Benefit is only available in conjunction with i4LIFE Advantage. Available during Access Period. Upon death of owner, benefit will be greatest of - 1) contract value, or 2) total purchase payments adjusted for sum of regular income payments and withdrawals. Regular income payments, including withdrawals to provide Guaranteed Income Benefits, reduce death benefit by dollar amount and withdrawals reduce death benefit in same proportion. After Access Period ends, charge will be same as i4LIFE Advantage - Account Value death benefit.
Lifecycle Events
Cancellation
May be cancelled any time after election.
Termination
May be terminated any time after election.
Available when added
No longer available for new purchases.
Effect change ownership
Issuer will recalculate benefit amount upon change in ownership.