EE
● Terminated
Earnings Enhancement Death Benefit
Pacific Life Insurance Company
DTCC ID
—
COMPANY
Pacific Life Insurance Company
TYPE
Variable Annuity
INCEPTION
Oct 01, 2013
Identity
Benefit name
Earnings Enhancement Death Benefit
Internal benefit name
Earnings Enhancement Death Benefit
Company
Product policy type
Variable Annuity
Status
● Terminated
Sequence
4
Inception date
Oct 01, 2013
Closed date
May 01, 2019
DTCC Rider ID
—
Last modified
Jun 17, 2024
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
Issuer will recalculate benefit base upon partial withdrawal.
Required min distributions
—
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 the accumulation phase. Upon the death of an owner, Issuer will add 40% of earnings (25% if owner ages between 70 to 75) to any death benefit payable under the contract. Earnings are the amount by which sum of contract value, exceeds remaining purchase payments. Effective 6/1/2018 available as Earnings Enhancement Guarantee in CA
Lifecycle Events
Cancellation
Benefit may automatically cancel under certain conditions.
Termination
Benefit will automatically terminate upon earliest of a 1) change in ownership; 2) surrender; 3) annuitization; 4) contract value and benefits base reduces to zero; or 5) death.
Available when added
No longer available for new purchases.
Effect change ownership
None.