JS
● Terminated
Jackson Select Protector GMWB - Death Benefit
Jackson National Life Insurance Company
DTCC ID
—
COMPANY
Jackson National Life Insurance Company
TYPE
Variable Annuity
INCEPTION
May 01, 2011
Identity
Benefit name
Jackson Select Protector GMWB - Death Benefit
Internal benefit name
Jackson Select Protector GMWB - Death Benefit
Product policy type
Variable Annuity
Status
● Terminated
Sequence
9
Inception date
May 01, 2011
Closed date
Apr 29, 2013
DTCC Rider ID
—
Last modified
Jul 16, 2013
Life & Age
Based on life
Owner
Single life
No
Joint life
No
Min age
—
Max age
—
Rider select rule
—
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
Issuer will recalculate benefit base upon partial withdrawal.
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
Benefit is only available in conjunction with Jackson Select Protector GMWB. Upon death of owner, benefit is greater of - 1) basic death benefit, or 2) GMWB death benefit. GMWB death benefit is equal to initial purchase payment, thereafter increased by purchase payments made and reduced for withdrawal. Withdrawals will reduce benefit base by dollar amount for portion of withdrawal not defined as excess withdrawal and in same proportion by excess withdrawal. Benefit base can never be more than $5,000,000. GMWB death benefit will terminate on the date contract value is zero.
Lifecycle Events
Cancellation
Benefit may automatically terminate under certain conditions.
Termination
Benefit will automatically terminate upon termination of Jackson Protector GMWB.
Available when added
No longer available for new purchases.
Effect change ownership
Contact Issuer for details.