ID
● Active
IPR 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
IPR Death Benefit
Internal benefit name
IPR Death Benefit
Product policy type
Variable Annuity
Status
● Active
Sequence
3
Inception date
May 01, 2015
Closed date
—
DTCC Rider ID
—
Last modified
Apr 24, 2025
Life & Age
Based on life
Owner and Annuitant
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
Not Applicable.
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
Yes
Available in states
—
Not available in states
NJ, NY
Benefit Description
Available during accumulation phase. Upon death of owner within two policy years of the last day of the rider term, benefit will be greater of - 1) guaranteed amount for that Rider term; 2) contract value; 3) ADBR death benefit. For state NY, guaranteed amount on 20 year term is 100% of purchase payments made in the first Policy Year adjusted for withdrawals or, if there is a reset, 105% of accumulation value as of the most recent reset effective date less withdrawals made after such date.
Lifecycle Events
Cancellation
Benefit will be cancelled upon cancellation of Investment Preservation Rider.
Termination
Benefit will terminate upon earliest of - 1) death; or 2) termination of Investment Preservation Rider.
Available when added
Upon election of Investment Preservation Rider.
Effect change ownership
None.