BD
● Terminated
Basic Death Benefit
Commonwealth Annuity and Life Insurance Company
DTCC ID
—
COMPANY
Commonwealth Annuity and Life Insurance Company
TYPE
Variable Annuity
INCEPTION
Jul 29, 2009
Identity
Benefit name
Basic Death Benefit
Internal benefit name
Basic Death Benefit
Product policy type
Variable Annuity
Status
● Terminated
Sequence
1
Inception date
Jul 29, 2009
Closed date
Apr 01, 2019
DTCC Rider ID
—
Last modified
Sep 23, 2020
Life & Age
Based on life
Annuitant
Single life
No
Joint life
No
Min age
—
Max age
—
Rider select rule
Mandatory
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 by dollar-for-dollar amount.
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 equal to contract value adjusted for withdrawals and applicable taxes.
Lifecycle Events
Cancellation
May not be cancelled.
Termination
May not be terminated.
Available when added
No longer available for new purchases.