Death Benefit Amount. If the Contract Holder or Annuitant dies before Annuity payments start, the Beneficiary is entitled to a death benefit under the Contract. If the Contract is owned jointly, the death benefit is paid at the first death of either of the joint Contract Holders. If the Contract is held by joint Contract Holders, the survivor will be deemed the designated Beneficiary and any other Beneficiary on record will be treated as the contingent Beneficiary. If the Contract Holder is a nonnatural person, the death benefit will be payable at the death of the Annuitant. If paid within 6 months of the date of the Annuitant's death, the death benefit will be the Current Value of the Contract. Otherwise, the death benefit will be the Adjusted Current Value determined as of the claim date. The claim date is the date when proof of death and the Beneficiary's claim are received in good order at Aetna's Home Office. When the Contract Holder dies and the Contract Holder is not the Annuitant, the death benefit payable will be subject to a Surrender Fee, if applicable.
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Samples: Aetna Insurance Co of America, Aetna Life Insurance & Annuity Co /Ct
Death Benefit Amount. If the Contract Holder or Annuitant dies before Annuity payments start, the Beneficiary is entitled to a death benefit under the Contract. If the Contract is owned jointly, the death benefit is paid at the first death of either of the joint Contract Holders. If the Contract is held by joint Contract Holders, the survivor will be deemed the designated Beneficiary and any other Beneficiary on record will be treated as the contingent Beneficiary. If the Contract Holder is a nonnatural person, the death benefit will be payable at the death of the Annuitant. If paid within 6 months of the date of the Annuitant's death, the death benefit will be the Current Value of the Contract. Otherwise, the death benefit will be the Adjusted Current Value determined as of the claim date. The claim date is the date when proof of death and the Beneficiary's claim are received in good order at Aetna's Home Office. When the Contract Holder dies and the Contract Holder is not the Annuitant, the death benefit payable will be subject to a Surrender Fee, if applicable.. I2-MGA-95
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Death Benefit Amount. If the Contract Holder or Annuitant dies before Annuity payments start, the Beneficiary is entitled to a death benefit under the Contract. If the Contract is owned jointly, the death benefit is paid at the first death of either of the joint Contract Holders. If the Contract is held by joint Contract Holders, the survivor will be deemed the designated Beneficiary and any other Beneficiary on record will be treated as the contingent Beneficiary. If the Contract Holder is a nonnatural person, the death benefit will be payable at the death of the Annuitant. If paid within 6 months of the date of the Annuitant's death, the death benefit will be the Current Value of the Contract. Otherwise, the death benefit will be the Adjusted Current Value determined as of the claim date. The claim date is the date when proof of death and the Beneficiary's claim are received in good order at Aetna's Home Office. When the Contract Holder dies and the Contract Holder is not the Annuitant, the death benefit payable will be subject to a Surrender Fee, if applicable.. I1-MGA-95
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