BD
● Terminated
Basic Death Benefit
Metropolitan Life Insurance Company
DTCC ID
—
COMPANY
Metropolitan Life Insurance Company
TYPE
Variable Annuity
INCEPTION
Nov 17, 2014
Identity
Benefit name
Basic Death Benefit
Internal benefit name
Basic Death Benefit
Product policy type
Variable Annuity
Status
● Terminated
Sequence
1
Inception date
Nov 17, 2014
Closed date
May 01, 2017
DTCC Rider ID
—
Last modified
Oct 07, 2020
Life & Age
Based on life
Owner
Single life
No
Joint life
No
Min age
—
Max age
—
Rider select rule
Mandatory
Waiting period
—
Waiting term
—
Benefit Base
Maximum benefit base
—
Maximum benefit base %
—
With reduce benefit base
—
Subsequent premium
—
Partial withdrawals
Withdrawals will reduce benefit base in same proportion.
Required min distributions
Amount must be distributed to satisfy minimum distribution requirement of Internal Revenue Code provisions in effect as of rider effective date.
Coverage Flags
Exclude premium bonus
No
Spousal continuation option
Yes
Spousal continuation detail
Surviving spouse may elect to continue benefit under certain conditions after death of owner.
State Availability
Exception flag
No
Available in states
—
Benefit Description
During accumulation phase, upon death of owner, benefit will be greater of 1) account value; or 2) purchase payment adjusted for withdrawals. If a portion of account value has been applied to annuity option, death benefit will be equal to the account value.
Lifecycle Events
Cancellation
May not be cancelled.
Termination
May not be terminated.
Available when added
No longer available for new purchases.