● Terminated

LifeGuard Freedom Flex DB NY

Jackson National Life Insurance Company of New York

Edit

DTCC ID —

COMPANY Jackson National Life Insurance Company of New York

TYPE Variable Annuity

INCEPTION Dec 20, 2016

Identity

Benefit name

LifeGuard Freedom Flex DB NY

Internal benefit name

LifeGuard Freedom Flex DB NY

Company

Jackson National Life Insurance Company of New York

Product policy type

Variable Annuity

Status

● Terminated

Sequence

Inception date

Dec 20, 2016

Closed date

Apr 30, 2018

DTCC Rider ID

—

Last modified

Jun 24, 2020

Life & Age

Based on life

Owner

Single life

Joint life

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 less than or equal to GAWA will not reduce GMWB death benefit, and in same proportion by excess withdrawal. Living benefit will reduce benefit base by dollar amount for portion of withdrawal not defined as excess withdrawal and in same proportion by excess withdrawal.

Required min distributions

—

Coverage Flags

Exclude premium bonus

Spousal continuation option

Yes

Spousal continuation detail

Surviving spouse may elect to continue benefit after death of owner.

State Availability

Exception flag

Available in states

—

Benefit Description

Benefit is only available in conjunction with LifeGuard Freedom Flex - 6% Bonus and Annual Step-Up GMWB. Upon death of owner, benefit is greater of - 1) basic death benefit, or 2) GMWB death benefit. Basic death benefit is greater of - a) contract value, or b) total purchase payments adjusted for withdrawals. GMWB death benefit is equal to initial purchase payments adjusted for additional purchase payments made, Contract enhancements do not apply on this contract. On each Contract Anniversary following rider date, GMWB Death Benefit will step up to contract value. If contract value is greater than GMWB Death Benefit. Benefit Base can never be more than $5,000,000. Benefit Base can never be more than $5,000,000. On 7th contract anniversary following rider date, GMWB Death Benefit will step up to contract value only if it is greater than GMWB Death Benefit.

Lifecycle Events

Cancellation

Benefit may automatically terminate under certain conditions.

Termination

Benefit will automatically terminate upon termination of LifeGuard Freedom Flex GMWB.

Available when added

No longer available for new purchases.