MD
● Terminated
Maximum Daily Value Death Benefit
Forethought Life Insurance Company
DTCC ID
—
COMPANY
Forethought Life Insurance Company
TYPE
Variable Annuity
INCEPTION
Mar 04, 2013
Identity
Benefit name
Maximum Daily Value Death Benefit
Internal benefit name
Maximum Daily Value Death Benefit
Product policy type
Variable Annuity
Status
● Terminated
Sequence
5
Inception date
Mar 04, 2013
Closed date
May 02, 2014
DTCC Rider ID
—
Last modified
Aug 10, 2020
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
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, benefit will be greatest of -1) contract value, 2) purchase payments adjusted for withdrawals, or 3) Maximum Daily Value. Maximum Daily Value is the highest attained contract value adjusted for subsequent purchase payments and withdrawals. Death benefit cannot exceed the contract value, plus $1 million. Owner must select an Asset Allocation Program.
Lifecycle Events
Cancellation
May be cancelled any time after first rider anniversary.
Termination
May be terminated any time after first rider anniversary.
Available when added
No longer available for new purchases.
Effect change ownership
Change in ownership will result in termination of rider.