PP
● Terminated
Purchase Payment Accumulation Death Benefit
American General Life Insurance Company
DTCC ID
—
COMPANY
American General Life Insurance Company
TYPE
Variable Annuity
INCEPTION
Nov 05, 2001
Identity
Benefit name
Purchase Payment Accumulation Death Benefit
Internal benefit name
Purchase Payment Accumulation Death Benefit
Product policy type
Variable Annuity
Status
● Terminated
Sequence
2
Inception date
Nov 05, 2001
Closed date
Sep 24, 2004
DTCC Rider ID
—
Last modified
Aug 13, 2024
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 by dollar-for-dollar amount.
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 during accumulation phase. Upon death of owner prior to age 80, benefit will be greatest of - 1) contract value, 2) net purchase payments, for withdrawals compounded at 5% annual growth rate to earlier of owner's 80th birthday or date of death.
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.