Beacon Data Entry
Enhanced Death Benefit
⌘K
ED
● Terminated

Enhanced Death Benefit

Penn Mutual Life Insurance Company
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DTCC ID —
COMPANY Penn Mutual Life Insurance Company
TYPE Variable Annuity
INCEPTION May 07, 2012
Identity
Benefit name
Enhanced Death Benefit
Internal benefit name
Enhanced Death Benefit
Company
Penn Mutual Life Insurance Company
Product policy type
Variable Annuity
Status
● Terminated
Sequence
2
Inception date
May 07, 2012
Closed date
May 27, 2016
DTCC Rider ID
—
Last modified
Jun 23, 2021
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
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

Available during accumulation phase. Upon death of annuitant, benefit will be equal to - 1) contract value, 2) adjusted purchase payments or 3) Enhanced Death Benefit Base. Enhanced death benefit base is equal to initial purchase payment at rider issue. After rider effective date, Enhanced death benefit base will be equal to highest contract value at any contract anniversary following annuitant's 80th birthday. Benefit base can never be more than $1,000,000. Withdrawal will adjusted the benefit base to greater of - 1) dollar amount of withdrawal or 2) amount of withdrawal multiplied by ratio of - i) adjusted net purchase payments before withdrawal, and ii) contract value before the withdrawal. Owner must select an Asset Allocation Program. Current Charges are 0.20% if purchased in combination.

Lifecycle Events
Cancellation
May be cancelled at any time on or after first contract anniversary.
Termination
Benefit will automatically terminate upon earliest of - 1) change in ownership, 2) death, or 3) annuitization.
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.