OD
● Terminated
Optional Death Benefit
Talcott Resolution Life Insurance Company
DTCC ID
—
COMPANY
Talcott Resolution Life Insurance Company
TYPE
Variable Annuity
INCEPTION
—
Identity
Benefit name
Optional Death Benefit
Internal benefit name
Optional Death Benefit
Product policy type
Variable Annuity
Status
● Terminated
Sequence
2
Inception date
—
Closed date
—
DTCC Rider ID
—
Last modified
Aug 08, 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 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 owner.
State Availability
Exception flag
No
Available in states
—
Benefit Description
Available during accumulation phase. Upon death of owner, benefit will be greatest of -1) contract value, 2) net purchase payments, 3) greatest contract value on any contract anniversary prior to owner's 81st birthday or 4) Compounded daily at 5% interest rate annually, prior to owner's 81st birthday. Benefit can never be more than 200% of contract value at issue of benefit plus adjusted purchase payments after benefit issue.
Lifecycle Events
Cancellation
Once elected may not be cancelled.
Termination
Benefit will terminate upon election of Deferral Option.
Available when added
No longer available for new purchases.
Effect change ownership
Issuer will recalculate benefit amount upon change in ownership.