BENEFICIARY CONTINUATION OPTION. This Item 6 will apply only if you die before the Annuity Commencement Date, and the beneficiary named pursuant to Section 6.02 of the Contract is an individual. If there is more than one beneficiary, and any beneficiary is not an individual, then this Item 6 does not apply, and the death benefit described in Section 6.01 of the Contract is payable.
BENEFICIARY CONTINUATION OPTION. This Section applies only if: you die before the Maturity Date and before a supplementary contract has been issued, and the Beneficiary named under the “Beneficiary” Section of this Contract is an individual, with the exception of the following paragraph. Any non-individual Beneficiary’s portion of the Death Benefit described in the “Payment Upon Death” Section of this Contract is payable to the Beneficiary. This Section applies to a non-individual Beneficiary only if it is a “see-through trust”. A “see-through trust” is an irrevocable trust, valid under state law, the only beneficiaries of which are individuals, and which trust has met applicable documentation requirements under applicable Regulations as we may determine. If such a “see-through trust” described in Treasury Regulation Section 1.401(a)(9)-4 Q&A A-5, or any successor Regulation, is the Beneficiary named in the “Beneficiary” Section of this Contract, the individual used as the measuring life for calculating payments is the oldest beneficiary of such trust. If this Section applies and there is more than one Beneficiary, the Annuity Account Value on the Transaction Date we receive all Beneficiary Requirements will be apportioned among your Beneficiaries as you designate pursuant to the “Beneficiary” Section of this Contract. If the Beneficiary qualifies to continue this Contract, and we receive that Beneficiary’s completed election no later than September 30 of the calendar year following the calendar year of your death and before any contrary election is made, that Beneficiary may continue your Contract pursuant to this Section under the terms set forth in (a) through (h) below. Each such Beneficiary electing to continue his or her portion of the interest in this Contract is a “Continuation Beneficiary.” For any Beneficiary who does not timely elect to continue his or her portion of the interest in this Contract, we will pay in a single sum that Beneficiary’s share of the Death Benefit pursuant to the “Payment Upon Death” Section of this Contract. The terms of the Beneficiary Continuation Option are as follows:
(a) This Contract cannot be assigned and must continue in your name for benefit of your Continuation Beneficiary. The Continuation Beneficiary may not assign his/her portion of the entire interest in this Contract.
(b) The Continuation Beneficiary automatically becomes the successor Annuitant with respect to that Continuation Beneficiary’s portion of the entire interest in this Contract...
BENEFICIARY CONTINUATION OPTION. Except as otherwise provided herein, this Section will apply only if you die before a supplementary contract has been issued and a death benefit is payable. The Beneficiary named in this Contract must be an individual. With the exception of the following paragraph, this Section does not apply to any Beneficiary which is not an individual, and that non-individual Beneficiary's portion of the death benefit described in the Section 7.02 is payable to the Beneficiary.
BENEFICIARY CONTINUATION OPTION. This Section
BENEFICIARY CONTINUATION OPTION. This section will apply only if the Participant dies before the Annuity Commencement Date, and the Beneficiary named under the "Beneficiary" section of this Contract is an individual. With the exception of the following paragraph, this section does not apply to any Beneficiary that is not an individual and the non-individual Beneficiary's portion of the death benefit is payable to such non-individual Beneficiary. This Section applies to a non-individual Beneficiary only if it is a "see through trust". A see through trust is an irrevocable trust, valid under state law, the only beneficiaries of which are individuals, and which trust has met applicable documentation requirements under applicable Regulations as we may determine. If such a "see-through trust" described in Treasury Regulation Section 1.40(a)(9)-4 Q&A, or any successor Regulation, is the Beneficiary named pursuant to the "Beneficiary" section of the Contract, the successor Participant is the oldest Beneficiary of such trust.
BENEFICIARY CONTINUATION OPTION. Except as otherwise provided herein, this Section will apply only if you die before the Maturity Date, before a supplementary contract has been issued, and a Death Benefit is payable. The Beneficiary named in this Contract must be an individual.
BENEFICIARY CONTINUATION OPTION. This Section 3.13 will apply only if the Annuitant dies before the Retirement Date, and the beneficiary named under Section 5.04 of the Contract is an individual. With the exception of the following paragraph, this Section 3.13 does not apply to any beneficiary which is not an individual, and the death benefit described in Section 3.11 of the Contract is payable to that non-individual beneficiary.
BENEFICIARY CONTINUATION OPTION. The following is added at the end of Part VI: Except as otherwise provided herein, this Item 7 will apply only if you die before a supplementary contract has been issued and a Death Benefit is payable. The Beneficiary named in this Contract must be an individual. With the exception of the following paragraph, this Item 7 does not apply to any Beneficiary which is not an individual, and that non-individual Beneficiary's portion of the Death Benefit, described in the "Payment Upon Death" Section of this Contract, is payable to the Beneficiary. This Item 7 applies to a non-individual Beneficiary only if it is a "see-through trust". A see-through trust is an irrevocable trust, valid under state law, the only beneficiaries of which are individuals, and which trust has met applicable documentation requirements under applicable Regulations as we may determine. If such a "see-through trust" described in Treasury Regulation Section 1.401(a)(9)-4 Q&A A-5, or any successor Regulation, is the Beneficiary named in the, "Beneficiary" Section of this Contract, the individual used as the measuring life for calculating payments is the oldest Beneficiary of such trust. 2008IRA-GWB 5 If this Item 7 applies and there is more than one Beneficiary, the Annuity Account Value (or if greater, the Guaranteed Minimum Death Benefit on the date we receive all Beneficiary Requirements) will be apportioned among your Beneficiaries as you designate pursuant to the "Beneficiary" Section of this Contract.
BENEFICIARY CONTINUATION OPTION. This Section 3.13 will apply only if the Participant dies before the Retirement Date, and the beneficiary named under Section 5.04 of the certificate is an individual. With the exception of the following paragraph, this Section 3.13 does not apply to any beneficiary which is not an individual, and the death benefit described in Section 3.11 of the certificate is payable to that non-individual beneficiary.
BENEFICIARY CONTINUATION OPTION. GOVERNMENTAL EMPLOYER PLANS ONLY Except as otherwise provided herein, this Section will apply only if the Annuitant dies before the Maturity Date and before Annuity Benefits have commenced, and a Death Benefit is payable. The Beneficiary named in this Contract must be an individual.
