LI
● Terminated
Lifetime Income Foundation - Death Benefit
Talcott Resolution Life Insurance Company
DTCC ID
—
COMPANY
Talcott Resolution Life Insurance Company
TYPE
Variable Annuity
INCEPTION
Nov 01, 2005
Identity
Benefit name
Lifetime Income Foundation - Death Benefit
Internal benefit name
Lifetime Income Foundation - Death Benefit
Product policy type
Variable Annuity
Status
● Terminated
Sequence
6
Inception date
Nov 01, 2005
Closed date
Apr 30, 2013
DTCC Rider ID
—
Last modified
Sep 26, 2019
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
—
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
Issuer will recalculate benefit base upon partial withdrawal.
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
Available only upon election of The Hartford's Lifetime Income Foundation withdrawal Benefit. Benefit is equal to greater of - 1) net purchase payments or 2) contract value. Partial Surrender that causes cumulative partial surrenders after the Lifetime Income Eligibility Date to exceed the Lifetime Benefit Payment, Issuer will reduce the Payment Base on a proportionate basis for the amount in excess of the Lifetime Benefit Payment and dollar for dollar basis for the amount not in excess of the Lifetime Benefit Payment.
Lifecycle Events
Cancellation
Benefit may automatically terminate under certain conditions.
Termination
Benefit will automatically terminate upon termination of The Hartford's Lifetime Income Foundation.
Available when added
No longer available for new purchases.
Effect change ownership
Change in ownership will not change benefit base.