BASIC DEATH BENEFIT RIDER Sample Clauses
BASIC DEATH BENEFIT RIDER. This rider modifies the Contract to which it is attached. The effective date of this rider is the Rider Effective Date shown on the Contract Schedule. In case of a conflict with any provision in the Contract, the provisions of this rider will control. The following hereby amends and supersedes the section of the Contract captioned “Proceeds Payable On Death - Death Benefit Amount During the Accumulation Period”: Prior to attaining Age 80 the death benefit during the Accumulation Period will be the greater of:
BASIC DEATH BENEFIT RIDER. This rider modifies the Contract to which it is attached. The effective date of this rider is the Rider Effective Date shown on the Contract Schedule. In case of a conflict with any provision in the Contract, the provisions of this rider will control. The following hereby amends and supersedes the section of the Contract captioned “Proceeds Payable On Death – Death Benefit Amount During the Accumulation Period”: Prior to attaining Age 80 the death benefit during the Accumulation Period will be the greater of: the Contract Value; or the Purchase Payments, less any withdrawals and any applicable charges determined at the end of the Valuation Period during which the Company receives both due proof of death and an election of the payment method at its Annuity Service Center. After attaining Age 80 the death benefit during the Accumulation Period will be equal to: the Contract Value determined at the end of the Valuation Period during which the Company receives both due proof of death and an election of the payment method at its Annuity Service Center. Partial annuitizations are considered withdrawals for purposes of this rider. If Joint Contract Owners are named, the Age of the oldest Joint Contract Owner will be used to determine the Death Benefit. If the Contract is owned by a non-natural person, then Contract Owner shall mean Annuitant. DB-Basic 09-01
BASIC DEATH BENEFIT RIDER. This rider modifies the Contract to which it is attached. The effective date of this rider is the Rider Effective Date shown on the Contract Schedule. In case of a conflict with any provision in the Contract, the provisions of this rider will control. The following hereby amends and supersedes the section of the Contract captioned “Proceeds Payable On Death - Death Benefit Amount During the Accumulation Period”: Prior to attaining Age 80 the death benefit during the Accumulation Period will be the greater of: 1. the Purchase Payments, reduced by an adjustment for each withdrawal. The adjustment is equal to A divided by B, with the result multiplied by C, where: A = the Contract Value withdrawn; B = the Contract Value immediately prior to the withdrawal; and