Death Benefit Options. (3) If no Beneficiary exists, a lump sum Available to Beneficiary payment equal to the Surrender Value must (Cont'd): be made to the Certificate Holder's estate within five years of the date of death. (4) If the Beneficiary is an entity, a lump sum payment equal to the Surrender Value must be made within five years of the date of death. (c) When the Certificate Holder is a natural person and not the Annuitant, when the Annuitant dies, the Beneficiary (or the Certificate Holder if no Beneficiary exists) may elect to:
Appears in 3 contracts
Samples: Variable Annuity Account B of Aetna Life Ins & Annuity Co, Variable Annuity Account B of Aetna Life Ins & Annuity Co, Variable Annuity Account B of Aetna Life Ins & Annuity Co
Death Benefit Options. (3) If no Beneficiary exists, a lump sum Available to Beneficiary payment equal to the Surrender Value must (Cont'd): be made to the Certificate Holder's estate within five years of the date of death. (4) If the Beneficiary is an entity, a lump sum payment equal to the Surrender Value must be made within five years of the date of death. (c) When the Certificate Holder is a natural person and not the Annuitant, when the Annuitant dies, the Beneficiary (or the Certificate Holder if no Beneficiary exists) may elect to:.
Appears in 1 contract
Samples: Variable Annuity Account I of Aetna Insurance Co of America
