GM
● Active
Guaranteed Minimum Death Benefit Rider - Return of Premium with Interest
Horace Mann Life Insurance Company
DTCC ID
—
COMPANY
Horace Mann Life Insurance Company
TYPE
Variable Annuity
INCEPTION
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Identity
Benefit name
Guaranteed Minimum Death Benefit Rider - Return of Premium with Interest
Internal benefit name
Guaranteed Minimum Death Benefit Rider - Return of Premium with Interest
Product policy type
Variable Annuity
Status
● Active
Sequence
4
Inception date
—
Closed date
—
DTCC Rider ID
—
Last modified
May 14, 2025
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
None.
Coverage Flags
Exclude premium bonus
No
Spousal continuation option
Yes
Spousal continuation detail
Surviving Spouse may continue to elect the contract.
State Availability
Exception flag
No
Available in states
—
Benefit Description
During accumulation phase, upon death of annuitant, benefit will be greatest of - 1) contract value, 2) purchase payments, or 3) return of premium with interest death benefit. Return of premium with interest death Benefit equals initial purchase payment as increased by subsequent purchase payments less any withdrawals, compounded at 5% annually up to annuitant's 80th birthday. The amount of return of premium with interest death benefit shall not exceed an amount equal to 200% of net premium, less any adjustments for withdrawals.
Lifecycle Events
Cancellation
Once elected may not be cancelled.
Termination
Once elected may not be terminated.
Available when added
Only at contract issue.
Effect change ownership
None.