GM
● Active
Guaranteed Minimum Death Benefit Rider
Fidelity & Guaranty Life Insurance Company
DTCC ID
—
COMPANY
Fidelity & Guaranty Life Insurance Company
TYPE
Indexed Annuity
INCEPTION
Nov 11, 2013
Identity
Benefit name
Guaranteed Minimum Death Benefit Rider
Internal benefit name
Guaranteed Minimum Death Benefit Rider
Product policy type
Indexed Annuity
Status
● Active
Sequence
2
Inception date
Nov 11, 2013
Closed date
—
DTCC Rider ID
—
Last modified
Nov 11, 2013
Life & Age
Based on life
Owner
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
—
Partial withdrawals
—
Required min distributions
—
Coverage Flags
Exclude premium bonus
No
Spousal continuation option
Yes
Spousal continuation detail
Surviving spouse may elect to continue benefit under certain conditions 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 greater of - 1) contract value; 2) minimum guaranteed surrender value (MGSV); or 3) initial premium plus 3% simple interest up to 10 years or until age 85, whichever comes first. All GMDB values are reduced proportionately by withdrawals previously taken including guaranteed withdrawal payments.
Lifecycle Events
Termination
Once elected may automatically terminate under certain conditions.
Available when added
Only at contract issue.