GM
● Active
Guaranteed Minimum Death Benefit
John Hancock Life Insurance Company (U.S.A.)
DTCC ID
—
COMPANY
John Hancock Life Insurance Company (U.S.A.)
TYPE
Variable Annuity
INCEPTION
May 01, 1996
Identity
Benefit name
Guaranteed Minimum Death Benefit
Internal benefit name
Guaranteed Minimum Death Benefit
Product policy type
Variable Annuity
Status
● Active
Sequence
1
Inception date
May 01, 1996
Closed date
—
DTCC Rider ID
—
Last modified
Mar 17, 2025
Life & Age
Based on life
Owner (or Annuitant if owner is a non-natural person)
Single life
No
Joint life
No
Min age
—
Max age
—
Rider select rule
Mandatory
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
The Death benefit paid will be the greatest of the following: (1) the total value of the contract, (2) the total premium payments made minus any withdrawals and related charges, or (3) in certain states, the highest contract value on any third interval anniversary before the annuitant’s 81st birthday, plus any premiums paid since that anniversary, minus any withdrawals and charges taken since then.
Lifecycle Events
Cancellation
May not be canceled.
Termination
May not be terminated.
Available when added
At the time of issue of contract.