SD
● Terminated
Stepped-Up Death Benefit II
Pacific Life Insurance Company
DTCC ID
—
COMPANY
Pacific Life Insurance Company
TYPE
Variable Annuity
INCEPTION
Nov 18, 2016
Identity
Benefit name
Stepped-Up Death Benefit II
Internal benefit name
Stepped-Up Death Benefit II
Company
Product policy type
Variable Annuity
Status
● Terminated
Sequence
2
Inception date
Nov 18, 2016
Closed date
May 01, 2019
DTCC Rider ID
—
Last modified
Jun 13, 2024
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
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
Rider offers the ability to lock in market gains, which is the highest Contract Value on any previous Contract Anniversary prior to the oldest Owner's (or oldest Annuitant's in the case of a Non-Natural Owner) 81st birthday adjusted for additional Purchase Payments and withdrawals. Upon death of owner or annuitant, benefit will be greater of - 1) Death Benefit Amount or 2) Guaranteed Minimum Death Benefit Amount. Death Benefit Amount is greater of - 1) contract value, or 2) total purchase payments adjusted for withdrawals.
Lifecycle Events
Cancellation
Benefit may automatically terminate under certain conditions.
Termination
Benefit will automatically terminate upon earliest of - 1) annuitization; 2) surrender; 3) termination of the contract; or 4) death.
Available when added
No longer available for new purchases.
Effect change ownership
Resets the total purchase payment value.