GO
● Terminated
Guarantee of Principal Death Benefit
Lincoln Life & Annuity Company of New York
DTCC ID
—
COMPANY
Lincoln Life & Annuity Company of New York
TYPE
Variable Annuity
INCEPTION
Dec 28, 2016
Identity
Benefit name
Guarantee of Principal Death Benefit
Internal benefit name
Guarantee of Principal Death Benefit
Product policy type
Variable Annuity
Status
● Terminated
Sequence
2
Inception date
Dec 28, 2016
Closed date
May 18, 2020
DTCC Rider ID
—
Last modified
Jan 21, 2026
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
Mandatory
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
—
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
The Guarantee of Principal Death Benefit is the default Death Benefit and is included as part of the base contract Upon death of owner or annuitant, benefit will be greater of - 1) contract value, or 2) total purchase payments adjusted for withdrawals. The benefit is available as default death benefit upon election no other death benefit at issue. The Guarantee of Principal Death Benefit will automatically terminate at any time all Contract owners or Annuitants are changed. If this happens, the Contract Value Death Benefit will be in effect, and the Product Charge of 0.55% for the Contract Value Death Benefit will apply. If Contract Value equals zero, no Death Benefit will be paid.
Lifecycle Events
Cancellation
May not be cancelled once elected.
Termination
will automatically terminate if all Contract owners and Annuitants are changed.
Available when added
No longer available for new purchases.