Investment & Performance
Guaranteed Periods are also known as
Fixed Allocations
What is the Free Amount in the 1st Contract Year?
Greater of 10% of Premiums, AWA, RMD
Who is this product distributed through?
Discontinued, Previously Banks & Broker/Dealers
The youngest spouse, if joint coverage is elected, is known as
The Covered Person
This optional benefit rider guarantees beneficiaries will receive at least 100% of the amount that the owner invested in variable subaccounts, adjusted proportionally for withdrawals and transfers to Guarantee Periods.
Return of Premium (ROP) Guaranteed Minimum Death Benefit (GMDB)
Guaranteed Minimum Rate for a policy signed 09/10/2024
3.00%
What is the annual contract charges for policies with less than $100,000.00 Account Value
At what age are subsequent premiums no longer accepted?
Owner age 93
The owner may withdraw the greater amount (RMD) without impacting the benefit base
Proportional, Dollar for Dollar
Reallocates subaccount contract value once each Contract Quarter to maintain desired subaccount allocations.
Quarterly Automatic Rebalancing
What percentage is the premium bonus that applies to each GLWB Rider?
0%, 0%
What is the surrender penalty for a contract in the 8th contract year?
0%
This GLWB Rider is designed to provide the maximum level of guaranteed income available. It achieves this by offering an attractive Bonus Percentage and Payout Factors.
Income Control
If at the end of the rider's term the Contract Value is less than the guaranteed Contract Value (Premiums received in the 1st 90 days), the Rider Credit will increase the Contract Value to the Rider Base. At the end of the term, the Rider Credit is equal to the Rider Base minus the Contract Value. The Rider Credit cannot be less than zero.
Armor Seven and Armor 10 Guaranteed Minimum Accumulation Benefit (GMAB)
What document can be used to view individual investment funds, performance, fee's etc
The Prospectus
Maximum TOTAL premiums
$5,000,000.00
Total number of Riders available for this product
8
This GLWB Rider is designed to provide maximum upside guaranteed income potential and Contract Value accumulation potential.
Income Boost GLWB
This optional benefit provides downside market protection by covering a specified amount of loss (rider buffer) a client may experience over a selected term. At the end of the selected term, if the contract value has decreased, the account will be credited up to the buffer amount.
Armor Flex Ten/Armor Flex Seven Guaranteed Minimum Premium Benefit (GMPB)
Client may elect to participate in this program, at no extra charge, when they make any Purchase Payment prior to their Annuity Income Date, averaging the cost of investment into variable subaccounts over a set period of time (6 or 12 months)
Dollar Cost Averaging)
What makes up the 1.2% Asset Charge?
.85% Mortality & Expense, .15% Admin, .20% Distribution
10 Days
This happens if the contract value reaches $0, not due to early or excess withdrawals, but instead by poor investment performance, fees, withdrawals of the guaranteed annual withdrawal amount, or a combination of these
The contract will terminate, but the benefit will continue. The annual withdrawal amount will continue to be paid by Delaware Life as an obligation to the insured (covered person(s)) until their death, at which point the benefit terminates.
This death benefit guarantees that beneficiaries will receive at least 100% of the amount the Owner invested in variable subaccounts on each contract anniversary prior to the Owner attaining age 81. This Rider is adjusted proportionately for withdrawals and transfers to guarantee periods.
Highest Anniversary Value (HAV) Guaranteed Minimum Death Benefit (GMDB)