PP
● Active
Premier Protector Death Benefit
Minnesota Life Insurance Company
DTCC ID
—
COMPANY
Minnesota Life Insurance Company
TYPE
Variable Annuity
INCEPTION
Oct 24, 2016
Identity
Benefit name
Premier Protector Death Benefit
Internal benefit name
Premier Protector Death Benefit
Company
Product policy type
Variable Annuity
Status
● Active
Sequence
6
Inception date
Oct 24, 2016
Closed date
Apr 30, 2019
DTCC Rider ID
—
Last modified
May 30, 2022
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 greatest of - 1) contract value; 2) total purchase payments; 3) 4% Increase Value; 4) The greater of the Highest Anniversary Value, or the 4% Increase Value.Contract Anniversary on or following the 85/th/ birthday of the oldest Owner or the oldest Annuitant, in the case of an Owner who is not a natural person. 4% Increase Value is increased by any additional Purchase Payments received and accumulated for interest at 4% to the Last Increase Date.
Lifecycle Events
Cancellation
Once elected may not be cancelled.
Termination
Benefit will automatically terminate upon earliest of - 1) termination, 2) surrender, 3) annuitization, or 4) change in ownership in certain conditions.
Available when added
Only at contract issue.
Effect change ownership
Change in ownership will result in termination of rider except under certain conditions.