MD
● Terminated
Maximum Daily Value III Death Benefit
Forethought Life Insurance Company
DTCC ID
—
COMPANY
Forethought Life Insurance Company
TYPE
Variable Annuity
INCEPTION
May 02, 2016
Identity
Benefit name
Maximum Daily Value III Death Benefit
Internal benefit name
Maximum Daily Value III Death Benefit
Product policy type
Variable Annuity
Status
● Terminated
Sequence
3
Inception date
May 02, 2016
Closed date
Apr 09, 2020
DTCC Rider ID
—
Last modified
Sep 16, 2020
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
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
Contact Issuer for details.
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; or 2) maximum daily value. 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 at any time on or after the first anniversary of the rider effective date, if the rider charge on the date of termination is greater than the rider charge on the rider issue date.
Termination
May be terminated at any time on or after the first anniversary of the rider effective date, if the rider charge on the date of termination is greater than the rider charge on the rider issue date.
Available when added
No longer available for new purchases.
Effect change ownership
Change in ownership will result in termination of rider.