MA
● Active
Maximum Anniversary Value GMDB
Transamerica Life Insurance Company
DTCC ID
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COMPANY
Transamerica Life Insurance Company
TYPE
Variable Annuity
INCEPTION
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Identity
Benefit name
Maximum Anniversary Value GMDB
Internal benefit name
Maximum Anniversary Value GMDB
Product policy type
Variable Annuity
Status
● Active
Sequence
2
Inception date
—
Closed date
—
DTCC Rider ID
—
Last modified
Nov 03, 2023
Life & Age
Based on life
Owner
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
—
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
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Benefit Description
Available during accumulation phase only. Upon death of owner, benefit will be greatest of - 1) contract value, 2) purchase payments adjusted for withdrawals, or 3) maximum anniversary value, calculated on any contract anniversary, prior to owner's 80th birthday, increased by purchase payments made and adjusted for withdrawals.
Lifecycle Events
Cancellation
Once elected may not be cancelled.
Termination
Once elected may not be terminated.
Effect change ownership
Issuer will recalculate benefit amount upon change in ownership.