Guaranteed Benefit Lump Sum Payment Option
Product:
Accumulator Core '06 Series
Status:
Terminated
Internal name:
Sequence:
1
Rider select rule:
Optional
Participant based on:
Owner
Inception date:
Closed date:
2007-05-27
States available:
State exceptions:
Notes:
Issuer offer lump sum payment option if owner has elected GMIB and no-lapse guarantee is in effect; or GWBL; or GMIB that converted to a GWBL. Owner will have at least 30 days from day account value falls to zero to elect this option. This payment option may not be available in all states.
When added:
No longer available for new purchases.
Feature cases
| Case name | Current charge (%) | Max charge (%) | Owner age (min–max) | Annuitant age (min–max) |
|---|---|---|---|---|
| Guaranteed Benefit Lump Sum Payment Option | 0 | 0 – 85 |