● Terminated

GIPR 2.0 Death Benefit

New York Life Insurance and Annuity Corporation

Edit

DTCC ID —

COMPANY New York Life Insurance and Annuity Corporation

TYPE Variable Annuity

INCEPTION May 01, 2014

Identity

Benefit name

GIPR 2.0 Death Benefit

Internal benefit name

GIPR 2.0 Death Benefit

Company

New York Life Insurance and Annuity Corporation

Product policy type

Variable Annuity

Status

● Terminated

Sequence

Inception date

May 01, 2014

Closed date

Apr 30, 2016

DTCC Rider ID

—

Last modified

Jun 19, 2025

Life & Age

Based on life

Owner (or Annuitant if owner is a natural entity)

Single life

Joint life

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

—

Required min distributions

Withdrawals will reduce benefit base in same proportion.

Coverage Flags

Exclude premium bonus

Spousal continuation option

Yes

Spousal continuation detail

Surviving spouse may not elect to continue benefit after death of owner.

State Availability

Exception flag

Available in states

—

Benefit Description

If the owner dies within two policy years of the last day of rider term then in effect, death benefit will equal to the 1) guaranteed amount if that guaranteed amount is higher than the accumulation value or adjusted death benefit premium payments on the date of death; 2) contract value; or 3) Adjusted Death Benefit Premium Payments. If ADBR Rider is in effect, and death benefit under the ADBR Rider is higher than GIPR 2.0 death benefit, Issuer will pay the death benefit available under the ADBR Rider. For state NY, benefit for 20-year rider term is, 100% of the premium payments and premium credits made in the first policy year or 100% of accumulation value as of most recent rider reset date adjusted for proportional withdrawals, if that amount is higher than the accumulation value or adjusted death benefit premium payments on date of death.

Lifecycle Events

Cancellation

May be cancelled any time after election.

Termination

Benefit will automatically terminate upon completion of two policy years or termination of Guaranteed Investment Protection Rider 2.0..

Available when added

No longer available for new purchases.