SD
● Active
Standard Death Benefit
New York Life Insurance and Annuity Corporation
DTCC ID
—
COMPANY
New York Life Insurance and Annuity Corporation
TYPE
Variable Annuity
INCEPTION
May 01, 2015
Identity
Benefit name
Standard Death Benefit
Internal benefit name
Standard Death Benefit
Product policy type
Variable Annuity
Status
● Active
Sequence
1
Inception date
May 01, 2015
Closed date
—
DTCC Rider ID
—
Last modified
May 01, 2025
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
Mandatory
Waiting period
—
Waiting term
—
Benefit Base
Maximum benefit base
—
Maximum benefit base %
—
With reduce benefit base
—
Subsequent premium
None.
Partial withdrawals
Withdrawals will reduce benefit base in same proportion.
Required min distributions
None.
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) Accumulation value; 2) Return of Premium Death Benefit, which is equal to the premium payments adjusted for withdrawals or 3) Step-up Death Benefit, which is equal to the Accumulation value as of the 9th policy anniversary (in NY state, it is it is equal to the Accumulation value as of the 7th policy anniversary).
Lifecycle Events
Cancellation
May not be cancelled.
Termination
May not be terminated.
Effect change ownership
None.