DEATH BENEFIT WHEN NO NATURAL OWNERS Sample Clauses

DEATH BENEFIT WHEN NO NATURAL OWNERS. If there is no Owner who is a natural person, we will treat the Annuitant as Owner for the purpose of paying the death benefit and any rider benefits, and the Annuitant's age will determine the death benefit payable to the Beneficiary.
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DEATH BENEFIT WHEN NO NATURAL OWNERS. If there is no Owner who is a natural person, we will treat the Annuitant as Owner for the purpose of paying the death benefit, and the Annuitant's age will determine the death benefit payable to the Beneficiary. REQUIRED DISTRIBUTION OF PROCEEDS ON THE DEATH OF THE OWNER - The three sub-sections indented below are required to qualify this Contract as an annuity contract under Section 72(s) of the Internal Revenue Code of 1986, as amended. Where the terms of these three sub-sections are in conflict with any other sections or sub-sections of this Contract, these three sub-sections will control. We reserve the right to amend or administer this Contract as necessary to comply with the applicable tax requirements. These three sub-sections and this Contract should be construed so that they comply with the applicable tax requirements.
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DEATH BENEFIT WHEN NO NATURAL OWNERS. If there is no Owner who is a natural person, we will treat the Annuitant as Owner for the purpose of paying the death benefit, and the Annuitant's age will determine the death benefit payable to the Beneficiary. REQUIRED DISTRIBUTION OF PROCEEDS ON THE DEATH OF THE OWNER - The three sub-subsections indicated below are required to qualify a Certificate as an annuity contract under Section 72(s) of the Internal Revenue Code of 1986, as amended. Where the terms of these three sub-sections are in conflict with any other sections or sub-sections of a Certificate, these three sub-sections will control. We reserve the right to amend or administer the Group Contract and any Certificate as necessary to comply with the applicable tax requirements. These three sub-sections and each Certificate should be construed so that they comply with the applicable tax requirements.
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Related to DEATH BENEFIT WHEN NO NATURAL OWNERS

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  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.