ED
● Active
Enhanced Death Benefit
Global Atlantic
DTCC ID
—
COMPANY
Global Atlantic
TYPE
Indexed Annuity
INCEPTION
Aug 27, 2018
Identity
Benefit name
Enhanced Death Benefit
Internal benefit name
Enhanced Death Benefit
Company
Product policy type
Indexed Annuity
Status
● Active
Sequence
2
Inception date
Aug 27, 2018
Closed date
—
DTCC Rider ID
—
Last modified
Aug 28, 2018
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
—
Partial withdrawals
—
Required min distributions
—
Coverage Flags
Exclude premium bonus
No
Spousal continuation option
No
State Availability
Exception flag
No
Available in states
—
Benefit Description
The optional Enhanced Death Benefit (EBD) is separate from contract value and provides steady and predictable growth toward death benefit. Each year, EDB grows by a guaranteed 7% of the premium for up to 15 years. After passing, beneficiary either gets the EDB or contract value as a death benefit – whichever is greater. The optional enhanced death benefit is not allowed on these plan types i.e Non-qualified Stretch and Inherited IRA.
Lifecycle Events
Available when added
Only at contract issue.