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. 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.
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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
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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:
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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 Non-Qualified Withdrawal. Some Non-Qualified Withdrawals following the death of the Beneficiary are not subject to the additional 10% federal tax. See “Part 13 – Distributions from an Account.” .............................................................................................................................................................................................................................
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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.”
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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. 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.
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Death of a Beneficiary 
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Related to Death of a Beneficiary

  • DEATH OF BENEFICIARY Unless otherwise provided in the Beneficiary designation, if any Beneficiary dies before the Owner, that Beneficiary's interest will go to any other primary Beneficiaries named, according to their respective interests. If there are no primary Beneficiaries, the Beneficiaries' interest will pass to a contingent Beneficiary, if any. Prior to the Annuity Commencement Date, if no Beneficiary or contingent Beneficiary survives the Owner, the Death Benefits will be paid to the Owner's estate. Unless otherwise provided in the Beneficiary designation, once a Beneficiary is receiving Death Benefits or annuity payments under an Annuity Payment Option, the Beneficiary may name his or her own Beneficiary to receive any remaining benefits due under the Contract, should the original Beneficiary die prior to receipt of all benefits. If no Beneficiary is named or the named Beneficiary predeceases the original Beneficiary, any remaining benefits will continue to the original Beneficiary's estate. A Beneficiary designation must be made by Notice to LNY.

  • 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.

  • Death of the Participant The Advisory Committee will direct the Trustee, in accordance with this Section 6.01(C), to distribute to the Participant's Beneficiary the Participant's Nonforfeitable Accrued Benefit remaining in the Trust at the time of the Participant's death. Subject to the requirements of Section 6.04, the Advisory Committee will determine the death benefit by reducing the Participant's Nonforfeitable Accrued Benefit by any security interest the Plan has against that Nonforfeitable Accrued Benefit by reason of an outstanding Participant loan. (1) DECEASED PARTICIPANT'S NONFORFEITABLE ACCRUED BENEFIT DOES NOT EXCEED $3,500. The Advisory Committee, subject to the requirements of Section 6.04, must direct the Trustee to distribute the deceased Participant's Nonforfeitable Accrued Benefit in a single sum, as soon as administratively practicable following the Participant's death or, if later, the date on which the Advisory Committee receives notification of or otherwise confirms the Participant's death. (2) DECEASED PARTICIPANT'S NONFORFEITABLE ACCRUED BENEFIT EXCEEDS $3,500. The Advisory Committee will direct the Trustee to distribute the deceased Participant's Nonforfeitable Accrued Benefit at the time and in the form elected by the Participant or, if applicable by the Beneficiary, as permitted under this Article VI. In the absence of an election, subject to the requirements of Section 6.04, the Advisory Committee will direct the Trustee to distribute the Participant's undistributed Nonforfeitable Accrued Benefit in a lump sum on the first distribution date following the close of the Plan Year in which the Participant's death occurs or, if later, the first distribution date following the date the Advisory Committee receives notification of or otherwise confirms the Participant's death. If the death benefit is payable in full to the Participant's surviving spouse, the surviving spouse, in addition to the distribution options provided in this Section 6.01(C), may elect distribution at any time or in any form (other than a joint and survivor annuity) this Article VI would permit for a Participant.

  • Death of Participant Any distribution or delivery to be made to Participant under this Award Agreement will, if Participant is then deceased, be made to Participant’s designated beneficiary, or if no beneficiary survives Participant, the administrator or executor of Participant’s estate. Any such transferee must furnish the Company with (a) written notice of his or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer.

  • Death of Member Upon the death of the Member, the Company shall be dissolved. By separate written documentation, the Member shall designate and appoint the individual who will wind down the Company’s business and transfer or distribute the Member's Interests and Capital Account as designated by the Member or as may otherwise be required by law.

  • Designated Beneficiary The individual who is designated as the Beneficiary under the Plan in accordance with Section 401(a)(9) of the Code and the regulations thereunder.

  • Contingent Beneficiary While the Annuitant is alive, the Owner may, by written Request, designate or change a Contingent Beneficiary from time to time. The Company shall not be bound by any change of Contingent Beneficiary unless it is made in writing and recorded at the Retirement Resource Operations Center.

  • No Designated Beneficiary If the Participant dies before the date distributions begin and there is no designated beneficiary as of September 30 of the year following the year of the Participant’s death, distribution of the Participant’s entire interest will be completed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death.

  • Enforcement by a Beneficiary A Beneficiary may enforce the obligations of the Guarantor contained in Section 4.1(b) directly against the Guarantor and the Guarantor waives any right or remedy to require that any action be brought against the Issuer or any other person or entity before proceeding against the Guarantor. The Guarantor shall be subrogated to all rights (if any) of any Beneficiary against the Issuer in respect of any amounts paid to the Beneficiaries by the Guarantor under this Guarantee; provided, however, that the Guarantor shall not (except to the extent required by mandatory provisions of law) be entitled to enforce or exercise any rights that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Guarantee, if at the time of any such payment, and after giving effect to such payment, any amounts are due and unpaid under this Guarantee.

  • Death of Account Owner We may continue to honor all transfer orders, withdrawals, deposits, and other transactions on an account until we know of a member's death. Once we know of a member's death, we may pay checks or drafts or honor other payments or transfer orders authorized by the deceased member for a period of ten (10) days after that date unless we receive instructions from any person claiming an interest in the account to stop payment on the checks, drafts, or other items. We may require anyone claiming a deceased owner's account funds to indemnify us for any losses resulting from our honoring that claim. This Agreement will be binding upon any heirs or legal representatives of any account owner.

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