LF
● Terminated
LifeGuard Freedom Flex DB
Jackson National Life Insurance Company
DTCC ID
—
COMPANY
Jackson National Life Insurance Company
TYPE
Variable Annuity
INCEPTION
Feb 09, 2015
Identity
Benefit name
LifeGuard Freedom Flex DB
Internal benefit name
LifeGuard Freedom Flex DB
Product policy type
Variable Annuity
Status
● Terminated
Sequence
4
Inception date
Feb 09, 2015
Closed date
Jun 24, 2019
DTCC Rider ID
—
Last modified
Oct 29, 2021
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 less than or equal to GAWA will not reduce GMWB death benefit, and in same proportion by excess withdrawal. Living benefit will reduce benefit base by dollar amount for portion of withdrawal not defined as excess withdrawal and in same proportion by excess 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
Upon death of owner, benefit is greater of - 1) basic death benefit, or 2) GMWB death benefit. Basic death benefit is greater of - a) contract value, or b) total purchase payments adjusted for withdrawals. GMWB death benefit is equal to initial purchase payments adjusted for additional purchase payments made. On 7th contract anniversary following rider date, GMWB Death Benefit will step up to contract value. If contract value is greater than GMWB Death Benefit. Benefit Base can never be more than $5,000,000. Issuer deducts current charge for state WA and MO 0.72% With Income Stream Level 3; 0.75% With Income Stream Level 4; 0.81% With Income Stream Level 5. Charges may be different in MO and WA.
Lifecycle Events
Cancellation
Benefit may automatically terminate under certain conditions.
Termination
Benefit will automatically terminate upon termination of LifeGuard Freedom Flex GMWB.
Available when added
No longer available for new purchases.