Common use of Conditions applicable to the Source Contract Clause in Contracts

Conditions applicable to the Source Contract. 1) The death of the Deceased Holder of the Source Contract triggers the requirement to make post-death required payments by the Required Payment Starting Date from or with respect to the proceeds of the Source Contract. 2) You must have already made an election with the insurance company which issued the Deceased Holder’s Source Contract or any Interim Source Contract for the payout under Section 72(s) of the Code of the Source Contract proceeds. You cannot have previously applied the value of your interest as a beneficiary under the Source Contract or any Interim Source Contract to a life contingent annuity payout. 3) You must not have elected to receive the Source Contract proceeds within 5 years after the date of death of the Deceased Holder of the Source Contract, in accordance with Section 72(s)(1)(B) of the Code. Also, even if no affirmative election was made, the insurance company that issued the Deceased Holder’s Source Contract or any Interim Source Contract must not have applied the 5 Year Rule under Section 72(s)(1)(B) of the Code. 4) You must have started to receive Required Payments Under Section 72(s)(2)(B) from the Deceased Holder’s Source Contract or any Interim Source Contract at least annually in accordance with Section 72(s)(2).

Conditions applicable to the Source Contract. 1) The death of the Deceased Holder of the Source Contract triggers the requirement to make post-death required payments by the Required Payment Starting Date from or with respect to the proceeds of the Source Contract. 2) You must have already made an election with the insurance company which issued the Deceased Holder’s Source Contract or any Interim Source Contract for the payout under Section 72(s) of the Code of the Source Contract proceeds. You cannot have previously applied the value of your interest as a beneficiary under the Source Contract or any Interim Source Contract to a life contingent annuity payout. 3) You must not have elected to receive the Source Contract proceeds within 5 years after the date of death of the Deceased Holder of the Source Contract, in accordance with Section 72(s)(1)(B) of the Code. Also, even if no affirmative election was made, the insurance company that issued the Deceased Holder’s Source Contract or any Interim Source Contract must not have applied the 5 Year Rule under Section 72(s)(1)(B) of the Code.. 2021INHNQ-IE 4) You must have started to receive Required Payments Under Section 72(s)(2)(B) from the Deceased Holder’s Source Contract or any Interim Source Contract at least annually in accordance with Section 72(s)(2).

Conditions applicable to the Source Contract. 1) The death of the Deceased Holder of the Source Contract triggers the requirement to make post-death required payments by the Required Payment Starting Date from or with respect to the proceeds of the Source Contract. 2) You must have already made an election with the insurance company which issued the Deceased Holder’s Source Contract or any Interim Source Contract for the payout under Section 72(s) of the Code of the Source Contract proceeds. You cannot have previously applied the value of your interest as a beneficiary under the Source Contract or any Interim Source Contract to a life contingent annuity payout. 3) You must not have elected to receive the Source Contract proceeds within 5 years after the date of death of the Deceased Holder of the Source Contract, in accordance with Section 72(s)(1)(B) of the Code. Also, even if no affirmative election was made, the insurance company that issued the Deceased Holder’s Source Contract or any Interim Source Contract must not have applied the 5 Year Rule under Section 72(s)(1)(B) of the Code.. 2021INHNQ-IE 6 4) You must have started to receive Required Payments Under Section 72(s)(2)(B) from the Deceased Holder’s Source Contract or any Interim Source Contract at least annually in accordance with Section 72(s)(2).

Conditions applicable to the Source Contract. 1) The death of the Deceased Holder of the Source Contract triggers the requirement to make post-death required payments by the Required Payment Starting Date from or with respect to the proceeds of the Source Contract. 2) You must have already made an election with the insurance company which issued the Deceased Holder’s Source Contract or any Interim Source Contract for the payout under Section 72(s) of the Code of the Source Contract proceeds. You cannot have previously applied the value of your interest as a beneficiary under the Source Contract or any Interim Source Contract to a life contingent annuity payout. 3) You must not have elected to receive the Source Contract proceeds within 5 years after the date of death of the Deceased Holder of the Source Contract, in accordance with Section 72(s)(1)(B) of the Code. Also, even if no affirmative election was made, the insurance company that issued the Deceased Holder’s Source Contract or any Interim Source Contract must not have applied the 5 Year Rule under Section 72(s)(1)(B) of the Code.. 2021INHNQ-IE-Z 6 4) You must have started to receive Required Payments Under Section 72(s)(2)(B) from the Deceased Holder’s Source Contract or any Interim Source Contract at least annually in accordance with Section 72(s)(2).

Conditions applicable to the Source Contract. 1) The death of the Deceased Holder of the Source Contract triggers the requirement to make post-death required payments by the Required Payment Starting Date from or with respect to the proceeds of the Source Contract. 2) You must have already made an election with the insurance company which issued the Deceased Holder’s Source Contract or any Interim Source Contract for the payout under Section 72(s) of the Code of the Source Contract proceeds. You cannot have previously applied the value of your interest as a beneficiary under the Source Contract or any Interim Source Contract to a life contingent annuity payout. 3) You must not have elected to receive the Source Contract proceeds within 5 years after the date of death of the Deceased Holder of the Source Contract, in accordance with Section 72(s)(1)(B) of the Code. Also, even if no affirmative election was made, the insurance company that issued the Deceased Holder’s Source Contract or any Interim Source Contract must not have applied the 5 Year Rule under Section 72(s)(1)(B) of the Code.. 2021INHNQ-IE-Z 4) You must have started to receive Required Payments Under Section 72(s)(2)(B) from the Deceased Holder’s Source Contract or any Interim Source Contract at least annually in accordance with Section 72(s)(2).