RD
● Terminated
Ratchet Death Benefit
C.M. Life Insurance Company (Mass Mutual)
DTCC ID
—
COMPANY
C.M. Life Insurance Company (Mass Mutual)
TYPE
Variable Annuity
INCEPTION
—
Identity
Benefit name
Ratchet Death Benefit
Internal benefit name
Ratchet Death Benefit
Product policy type
Variable Annuity
Status
● Terminated
Sequence
3
Inception date
—
Closed date
—
DTCC Rider ID
—
Last modified
Aug 30, 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
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 or annuitant, benefit will be greatest of - 1) contract value, 2) total purchase payments adjusted for withdrawals, or 3) highest anniversary value. Highest anniversary value initially equal to initial purchase payment, thereafter recalculated on each contract anniversary to greater of - 1) contract value, or 2) most recent calculated highest contract value, prior to owner or annuitant's 80th birthday, increased by purchase payments and reduced for withdrawals made after reset date.
Lifecycle Events
Cancellation
Once elected may not be cancelled.
Termination
Once elected may not be terminated.
Available when added
Only at contract issue.
Effect change ownership
Contact Issuer for details.