Common use of DEATH BENEFIT PROVISIONS Clause in Contracts

DEATH BENEFIT PROVISIONS. Death Benefit - A death benefit will be payable if the sole surviving Annuitant or any Owner dies before the Annuity Date and while this Contract is in force. The proceeds of any death benefit will be payable upon receipt of, in a form satisfactory to us, proof of death and instructions regarding payment of the death benefit proceeds. Such proceeds will equal the Death Benefit Amount reduced by any: . Contract Debt; and . charges for premium taxes and/or other taxes. These proceeds will be payable in a lump sum, as an Annuity Option under this Contract or towards the purchase of any Annuity Option we then offer, or in accordance with the Code (see Death of Owner Distribution Rules).