HA
● Terminated
Highest Anniversary Value GMDB
Jackson National Life Insurance Company of New York
DTCC ID
—
COMPANY
Jackson National Life Insurance Company of New York
TYPE
Variable Annuity
INCEPTION
Apr 27, 2020
Identity
Benefit name
Highest Anniversary Value GMDB
Internal benefit name
Highest Anniversary Value GMDB
Product policy type
Variable Annuity
Status
● Terminated
Sequence
3
Inception date
Apr 27, 2020
Closed date
Jan 01, 2025
DTCC Rider ID
—
Last modified
May 19, 2025
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
Opting out of the free increase option, future premiums made into the contract will no longer increase the GMDB 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 continue contract after death of owner. Benefit will be terminated.
State Availability
Exception flag
No
Available in states
—
Benefit Description
During the accumulation phase, upon death of the owner, benefit will be greatest of - 1) contract value or 2) GMDB benefit base - which is Highest Contract Anniversary Value adjusted for subsequent premiums and withdrawals, determined from rider effective date to contract anniversary immediately preceding owner's 81st birthday. Charges may increase by 0.05% annually on each 5th contract anniversary and the owner may elect to opt out of the current and future charges increases by forfeiting the highest quarterly anniversary value provision and any future increases to the GMDB benefit base. Upon such election, no future payments will be allowed.
Lifecycle Events
Cancellation
Once elected may not be cancelled.
Termination
Once elected may not be terminated.
Available when added
No longer available for new purchases.