Common use of Death Benefit Amount Clause in Contracts

Death Benefit Amount. If the Certificate Holder or Annuitant dies before Annuity payments start, the Beneficiary is entitled to a death benefit under the Account. If the Account is owned jointly, the death benefit is paid at the first death of either of the joint Certificate Holders. If the Account is held by joint Certificate Holders, the survivor will be deemed the designated Beneficiary and any other Beneficiary on record will be treated as the contingent Beneficiary. If the Certificate 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 Account. Otherwise, the death benefit will be the Adjusted Current Value of the Account 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 Certificate Holder dies and the Certificate Holder is not the Annuitant, the death benefit payable will be subject to a Surrender Fee, if applicable.