RI
● Terminated
Retirement Income Choice 1.6 Benefit - Death Benefit
Transamerica Life Insurance Company
DTCC ID
—
COMPANY
Transamerica Life Insurance Company
TYPE
Variable Annuity
INCEPTION
Sep 17, 2012
Identity
Benefit name
Retirement Income Choice 1.6 Benefit - Death Benefit
Internal benefit name
Retirement Income Choice 1.6 Benefit - Death Benefit
Product policy type
Variable Annuity
Status
● Terminated
Sequence
6
Inception date
Sep 17, 2012
Closed date
May 01, 2013
DTCC Rider ID
—
Last modified
Aug 11, 2020
Life & Age
Based on life
Owner and 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
Gross partial withdrawals up to withdrawal benefit base in a rider year will reduce death benefit by dollar-for-dollar amount; excess withdrawal in a rider year will reduce death benefit either in same proportion or by dollar-for-dollar amount, whichever results in lower death benefit.
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
Benefit is only available in conjunction with Retirement Income Choice 1.6. Upon death of annuitant, benefit is equal to contract value at issue thereafter, increased by purchase payments made less adjustments for withdrawals. No additional death benefit is payable if a death benefit payable under contract exceeds Retirement Income Choice 1.6. Manual resets to the withdrawal base will result in a recalculation of the rider death benefit and not the automatic step-ups.
Lifecycle Events
Cancellation
Benefit may automatically terminate under certain conditions.
Termination
Benefit will automatically terminate upon termination of Retirement Income Choice 1.6.
Available when added
No longer available for new purchases.