Use this link to close this tab/window when you are done viewing the Product Training

Please read each page carefully. When the 'next' button appears, simply click it when you're ready to continue to the next page.

If you close this web page at any time during the course, you will be required to start from the beginning in order to complete the course. You will not be able to continue from the point where you left off.

Death Benefit

The Death Benefit for Heritage Series, Liberty Series and Summit FIA Series annuities will all have the following features determined by the death of the owner, and or annuitant as long as the policy is in force

  • Owner and Annuitant are the same person
    • Death benefit will be the full Accumulated Value, with no surrender charges or MVA applied.
  • Owner and Annuitant are not the same person
    • Upon the death of the Owner, if the death benefit is requested, the death benefit will be the Surrender Value. (Accumulated value of all principal and interest, plus or minus MVA, and minus surrender charges.)
    • Upon the death of the Owner, if the contract stays in force, the Beneficiary will become the new owner.
    • Upon the death of the Annuitant, if the owner is a natural person, the Owner will have 60 days to name a new Annuitant. If they fail to do so, the Owner will automatically become the new Annuitant.
    • If the owner is not a natural person, upon the death of the Annuitant, the death benefit will be the full Accumulated Value, paid to the Beneficiary.
    43 of 49
    NEXT PAGE