MD
● Terminated
Maximum Daily Value II
Forethought Life Insurance Company
DTCC ID
—
COMPANY
Forethought Life Insurance Company
TYPE
Variable Annuity
INCEPTION
May 04, 2015
Identity
Benefit name
Maximum Daily Value II
Internal benefit name
Maximum Daily Value II
Product policy type
Variable Annuity
Status
● Terminated
Sequence
4
Inception date
May 04, 2015
Closed date
Jul 29, 2016
DTCC Rider ID
—
Last modified
Sep 16, 2020
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 will reduce benefit base in same proportion.
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 accumulation phase. Upon death of owner, benefit will be greater of -1) contract value; 2) purchase payments adjusted for withdrawals; or 3) Maximum Daily Value. Maximum Daily Value is the highest attained contract value adjusted for subsequent purchase payments and withdrawals. Issuer do not currently enforce the right to approve subsequent premium payments, except where a subsequent premium payment would result in total premium payments equaling or exceeding $1 million.
Lifecycle Events
Cancellation
May be cancelled any time after first rider anniversary.
Termination
May be terminated any time after first rider anniversary.
Available when added
No longer available for new purchases.
Effect change ownership
Change in ownership will result in termination of rider except in state CA.