RO
● Active
Return of Purchase Payments Death Benefit
Minnesota Life Insurance Company
DTCC ID
—
COMPANY
Minnesota Life Insurance Company
TYPE
Variable Annuity
INCEPTION
Nov 08, 2017
Identity
Benefit name
Return of Purchase Payments Death Benefit
Internal benefit name
Return of Purchase Payments Death Benefit
Company
Product policy type
Variable Annuity
Status
● Active
Sequence
7
Inception date
Nov 08, 2017
Closed date
—
DTCC Rider ID
—
Last modified
May 17, 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
Contact issuer for details.
Partial withdrawals
Withdrawal reduces the benefit base on proportional basis.
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 the death benefit after the death of the owner.
State Availability
Exception flag
No
Available in states
—
Benefit Description
Available during accumulation phase. Upon death of owner, death benefit base will be equal to the greater of the 1) contract value; or 2) the total of all purchase payments adjusted for withdrawals.
Lifecycle Events
Cancellation
Once elected may not be cancelled.
Termination
Benefit will automatically terminate upon earliest of - 1) surrender, 2) annuitization, 3) death, 4) termination of contract, 5) contract value reduces to zero, or 6) ownership change .
Available when added
Only at contract issue.