RD
● Terminated
Rollup Death Benefit
Genworth Life and Annuity Insurance Company
DTCC ID
—
COMPANY
Genworth Life and Annuity Insurance Company
TYPE
Variable Annuity
INCEPTION
Jul 20, 2009
Identity
Benefit name
Rollup Death Benefit
Internal benefit name
Rollup Death Benefit
Product policy type
Variable Annuity
Status
● Terminated
Sequence
3
Inception date
Jul 20, 2009
Closed date
May 01, 2011
DTCC Rider ID
—
Last modified
Aug 22, 2019
Life & Age
Based on life
Annuitant
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 annuitant.
State Availability
Exception flag
No
Available in states
—
Benefit Description
Available during accumulation phase. Upon death of annuitant, benefit will be greatest of - 1) purchase payments adjusted for withdrawals and tax; 2) contract value; or 3) Rollup Death Benefit. Rollup Death Benefit equals initial purchase payment at issue, thereafter benefit base is lesser of - 1) 200% of purchase payments; or 2) Rollup Death Benefit, compounded at 5% annually, adjusted for withdrawals and taxes, prior to annuitant's 90th birthday.
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
Change in ownership will result in termination of rider except under certain conditions.