GD
● Terminated
GMWB Death Benefit
Principal Life Insurance Company
DTCC ID
—
COMPANY
Principal Life Insurance Company
INCEPTION
Aug 01, 2013
CLOSED
—
Identity
Benefit name
GMWB Death Benefit
Internal benefit name
GMWB Death Benefit
Company
Status
● Terminated
Inception date
01 Aug 2013
Closed date
—
Description & Notes
Benefit description
Available during accumulation phase. Upon death of owner, benefit will be greatest of - 1) contract accumulated value; 2) total purchase payments adjusted for withdrawals; or 3) contract accumulated value on any 7th anniversary, adjusted for withdrawals and subsequent payments. Withdrawal that is not a For Life; excess withdrawal will reduce the GMWB Death Benefit by dollar amount. Each For Life; excess withdrawal will proportionately reduce the GMWB Death Benefit by the ratio of the For Life; excess withdrawal taken.