GP
● Terminated
GLWB Plus - Death Benefit
Commonwealth Annuity and Life Insurance Company
DTCC ID
—
COMPANY
Commonwealth Annuity and Life Insurance Company
TYPE
Variable Annuity
INCEPTION
—
Identity
Benefit name
GLWB Plus - Death Benefit
Internal benefit name
GLWB Plus - Death Benefit
Product policy type
Variable Annuity
Status
● Terminated
Sequence
3
Inception date
—
Closed date
Jun 01, 2009
DTCC Rider ID
—
Last modified
Aug 23, 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 greater of - 1) contract value, or 2) benefit base. Initially benefit base is equal to purchase payment thereafter increase by subsequent purchase payment and adjusted for withdrawals.
Lifecycle Events
Cancellation
Benefit may automatically terminate under certain conditions.
Termination
Benefit will automatically terminate upon termination of GLWB Plus.
Available when added
No longer available for new purchases.
Effect change ownership
Change in ownership will result in termination of rider except under certain conditions.