EO
● Terminated
Earnings Optimizer Death Benefit
Lincoln National Life Insurance Company
DTCC ID
—
COMPANY
Lincoln National Life Insurance Company
TYPE
Variable Annuity
INCEPTION
Nov 16, 2015
Identity
Benefit name
Earnings Optimizer Death Benefit
Internal benefit name
Earnings Optimizer Death Benefit
Product policy type
Variable Annuity
Status
● Terminated
Sequence
2
Inception date
Nov 16, 2015
Closed date
May 23, 2022
DTCC Rider ID
—
Last modified
Aug 14, 2024
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
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 or annuitant, benefit will be greatest of - 1) contract value; 2) total purchase payments adjusted for withdrawals; or plus 3) an amount equal to the Enhancement Rate multiplied by the lesser of - contract earnings or earnings limit. Enhancement Rate is 40% for all Owners. Contract earnings equals - a) contract value as of the date of death; less b) sum of all purchase payments, decreased by withdrawals. 200% is the earning limit. The minimum access period to elect i4LIFE Advantage with death benefit is greater of 20 years or to age 90.
Lifecycle Events
Cancellation
Benefit may automatically cancel under certain conditions.
Termination
Benefit will terminate upon earliest of 1) annuitization, 2) surrender, 3) change in ownership, and 4) upon termination of i4LIFE Advantage.
Available when added
No longer available for new purchases.
Effect change ownership
Change in ownership will result in termination of rider.