Death of a Beneficiary Sample Clauses

Death of a Beneficiary. If cancellation of the Agreement has not been initiated pursuant to Paragraph 3.03 or Paragraph 3.04 below, then within 30 days of the Trustee’s receipt from the Provider of a copy of the Beneficiary’s certified death certificate and an Affidavit executed by the beneficiary’s surviving spouse, if any, or otherwise any adult descendant of the Beneficiary, or if none, any adult representative of the Beneficiary, stating that the Provider performed services and delivered merchandise in accordance with the Pre-need Contract and otherwise fulfilled the terms of the Pre-need Contract, the Trustee shall liquidate the Trust Funds and distribute the liquidation proceeds, net of any accrued but unpaid Trustee compensation and expenses and taxes as follows:
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Death of a Beneficiary. Upon the death of a Beneficiary, the account owner can change the Beneficiary on the account, transfer assets to another Beneficiary who is a Member of the Family of the former Beneficiary, or take a Federal Non-Qualified Withdrawal or Nebraska Non-Qualified Withdrawal. Some Federal Non-Qualified Withdrawals following the death of the Beneficiary are not subject to the additional 10% federal tax. See “Part 14 – Distributions from an Account.”
Death of a Beneficiary. Unless otherwise provided, if a Beneficiary dies before the Owner, that Beneficiary's interest in the Death Benefit will pass to the surviving Beneficiary(ies). In the event that a Beneficiary does not survive the Owner for 15 days, such Beneficiary will be considered as predeceasing the Owner and the interest(s) in the Death Benefit will be distributed to the surviving Beneficiary(ies), otherwise to You, if living, Your estate or legal successors. If more than one Beneficiary survives the Owner, proceeds will be divided equally among the surviving Beneficiaries unless otherwise provided by the Owner.
Death of a Beneficiary. If a Beneficiary dies, you may: (i) request a distribution to the Beneficiary’s estate; (ii) request a distribution to yourself; or
Death of a Beneficiary. Upon the death of a Beneficiary, any amounts remaining in the Beneficiary’s Trust Sub-account shall be held, administered and distributed as follows:
Death of a Beneficiary. If any beneficiary dies before the death benefit becomes payable, we will divide that beneficiary’s portion of the death benefit among the surviving beneficiaries on a pro rata basis, unless you instruct otherwise by providing us notice. If you do not name a beneficiary or if no beneficiary is alive when the death benefit becomes payable, we will pay the death benefit to the estate of the owner or annuitant whose death caused the death benefit to become payable. If a beneficiary dies after the death benefit becomes payable, we will pay that beneficiary’s portion of the death benefit to that beneficiary’s estate. If a beneficiary dies after the death benefit becomes payable but before that beneficiary’s entire portion of the death benefit has been distributed, the remaining death benefit will be paid to that beneficiary’s estate unless that beneficiary instructs otherwise by providing notice. The remaining death benefit amount will be paid in a single lump sum payment. If the beneficiary elected to apply the death benefit to a settlement option, any remaining guaranteed annuity payments will continue according to the settlement option selected. CONTRACT MATURITY MATURITY DATE If you did not choose a maturity date, the maturity date will be the “Latest Maturity Date” shown on the data pages. You may change the maturity date by sending us notice. The change will be effective on the date we receive and accept your notice. We are not liable for any payments we make or actions we take before we receive your notice. You may not extend the maturity date past the “Latest Maturity Date” shown on the data pages. ANNUITY PAYMENTS On the maturity date, we will apply the contract’s surrender value to the settlement option you selected in order to provide annuity payments to the payee. If no settlement option is selected, we will make annuity payments under the DEFAULT SETTLEMENT OPTION provision. Annuity payments will never be less than those that would be provided by using the surrender value to purchase a single premium immediate annuity at purchase rates available at that time to the same class of annuitants.
Death of a Beneficiary. Upon the death of a Beneficiary, the account owner can change the Beneficiary on the account, transfer assets to another Beneficiary who is a Member of the Family of the former Beneficiary, or take a Non-Qualified Withdrawal. Some Non-Qualified Withdrawals following the death of the Beneficiary are not subject to the additional 10% federal tax. See “Part 13Distributions from an Account.” .............................................................................................................................................................................................................................
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Death of a Beneficiary 

Related to Death of a Beneficiary

  • DEATH OF ANNUITANT If the natural Owner and Annuitant are different, and the Annuitant dies before the Annuity Date, the Owner becomes the Annuitant until the Owner elects a new Annuitant. If there are Joint Annuitants, upon the death of any Annuitant prior to the Annuity Date, the Owner may elect a new Joint Annuitant. However, if the Owner is a non-natural person, We will treat the death of any Annuitant as the death of the "Primary Annuitant" and as the death of the Owner, see DEATH PROVISIONS.

  • Designation of Beneficiary The depositor may designate a beneficiary or beneficiaries to receive benefits from the custodial account in the event of the depositor’s death. In the event the depositor has not designated a beneficiary, or if all beneficiaries shall predecease the depositor, the following persons shall take in the order named:

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