Death Benefit Proceeds. The Death Benefit Proceeds (“Proceeds”) are the actual amount payable if the Insured dies while this Policy is In Force. The Proceeds are equal to the Death Benefit, as of the date of death, less any Policy Debt and, if death occurs during a Grace Period, by any Monthly Deductions that may be due and unpaid. Unless otherwise elected by the Owner, Death Benefit Proceeds will be paid in a single lump sum check. We may make other options available in addition to the single check option. We will pay the Proceeds after the latest date of receiving all of the following at our Administrative Office: · Proof of the Insured’s death such as a certified copy of the death certificate for the Insured or other lawful evidence providing equivalent information and proof of the claimant’s legal interest in the proceeds; · Sufficient information to determine our liability, the extent of our liability, and the appropriate payee legally entitled to the Proceeds; and · Sufficient evidence that any legal impediments to payment of Proceeds that depend on parties other than us have been resolved. Legal impediments to payment include, but are not limited to: (a) the establishment of guardianships and conservatorships; (b) the appointment and qualification of trustees, executors and administrators; (c) submission of information required to satisfy state and federal reporting requirements; and (d) conflicting claims. Interest on Proceeds will accrue daily from the date of death to the date the claim is paid at the minimum annual interest rate for funds left on deposit that is in effect on the date of death. If payment of any lump sum Proceeds is delayed 31 calendar days after the latest date of receiving the last of the above requirements, we will pay required additional interest on the Death Benefit Proceeds at an annual interest rate that is not less than the rate required by applicable law. Such additional interest will be applied to the Proceeds beginning on the 31st calendar day referenced above to the date the claim is paid. Proceeds paid are subject to the conditions and adjustments defined in other Policy provisions, such as General Provisions, withdrawals, Policy Loans, and Timing of Payments.
Death Benefit Proceeds. The settlement of the death proceeds will be made upon receipt of proof of death in Good Order and will include any required interest from the date of death to the date of settlement. Interest paid will be at the same rate as paid on death proceeds left with the Company.
Death Benefit Proceeds. Section 11 Dividends.......................................................... Section 12 Payout Period...................................................... Section 13
Death Benefit Proceeds. 11.1 WHAT AMOUNT WILL BE The amount that will be paid under this PAID AS DEATH BENEFIT contract as death benefit proceeds is equal to PROCEEDS DURING THE the greater of a.) or b.) as follows: ACCUMULATION PERIOD?
a.) The sum of your net purchase payments made as of the date due proof of death is received, minus an adjustment for each partial withdrawal made as of the date due proof of death is received, equal to (1) divided by (2), with the result multiplied by (3), where:
(1) = the partial withdrawal amount;
(2) = the contract value immediately prior to the partial withdrawal; and
(3) = the sum of your net purchase payments immediately prior to the partial withdrawal, less any adjustments for prior partial withdrawals.
b.) The contract value as of the date due proof of death is received. The death benefit described above will be reduced by any applicable premium expense charges not previously deducted.
Death Benefit Proceeds. Section 12
Death Benefit Proceeds. The Death Benefit Proceeds (“Proceeds”) are the actual amount payable if the Insured dies while this policy is In Force. The Proceeds are equal to the Death Benefit, as of the date of death, less any Policy Debt and less any Monthly Deductions that may be due and unpaid if death occurs during a Grace Period. We will pay the Proceeds within two months after we receive, at our Administrative Office: • Due proof of the Insured’s death, consisting of a certified copy of the death certificate for the Insured or other lawful evidence providing equivalent information. • Proof of the claimant’s legal interest in the proceeds. • Sufficient evidence that any legal impediments to payment of Proceeds that depend on parties other than us have been resolved. Legal impediments to payment include, but are not limited to (a) the establishment of guardianships and conservatorships; (b) the appointment and qualification of trustees, executors and administrators; and (c) submission of information required to satisfy state and federal reporting requirements; and (d) conflicting claims. Proceeds paid are subject to the conditions and adjustments defined in other policy provisions, such as General Provisions, withdrawals, Standard Policy Loans, and Timing of Payments. We will pay interest on the Proceeds from the date of death at a rate not less than the rate payable for funds left on deposit (see the Income Benefits section). If payment of Proceeds is delayed more than 31 calendar days after we receive the above requirements needed to pay the claim, we will pay additional interest at a rate of 10% annually beginning with the 31st calendar day referenced above. Proceeds are paid as a lump sum unless you choose another payment method, as described in the Income Benefits section.
Death Benefit Proceeds. If the Annuitant dies during the Accumulation Period, and (a) prior to the end of the seventh Contract year, or (b) after the Annuitant's Attained Age 79, the Death Benefit Proceeds, if payable, will be the greater of:
Death Benefit Proceeds. Insurance Company
