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 Annuitant. If the Annuitant dies before the Owner and before the Annuity Date, the death benefit proceeds will be equal to the Death Benefit Amount as of the Notice Date. Unless there is a surviving Joint Annuitant or Contingent Annuitant, we will pay the death benefit proceeds to the first among the following who is (1) living; or (2) an entity entitled to receive the death benefit proceeds; following the death of the sole surviving Annuitant:
Death of Annuitant. Upon the death of the Annuitant, who is not a Contract Owner, during the Accumulation Period, the Contract Owner may designate a new Annuitant, subject to the Company’s underwriting rules then in effect. If no designation is made within 30 days of the death of the Annuitant, the Contract Owner will become the Annuitant. If the Contract Owner is a non-natural person, the death of the Annuitant will be treated as the death of the Contract Owner and a new Annuitant may not be designated. Upon the death of the Annuitant on or after the Annuity Date, the death benefit, if any, will be as specified in the Annuity Option elected. Death benefits will be paid at least as rapidly as under the method of distribution in effect at the Annuitant’s death.
Death of Annuitant. If the Owner is a natural person, the 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” as defined in the IRC, and as the death of the Owner, as explained in the DEATH PROVISIONS.
Death of Annuitant. Following the death of the Annuitant, the property of the Plan will be paid to the surviving Spouse of the Annuitant unless the surviving Spouse is not entitled to survivor benefits under Pension Legislation. The surviving Spouse may instruct the Trustee to transfer the property of the Plan to a LIRA, LIF, or life annuity as permitted by Pension Legislation and paragraph 60(l) of the Income Tax Act. If there is no surviving Spouse or where the surviving Spouse waives the spousal entitlement in the form and manner required by Pension Legislation, the property of the Plan will be paid to the person designated as beneficiary of the Plan, or if no such person has been designated, to the legal representative of the deceased Annuitant’s estate.
Death of Annuitant. No payment pursuant to Part 3 of the LIRA Addendum attached shall be made unless and until the Trustee receives releases and other documents as it may reasonably require.
Death of Annuitant. Upon the death of an Xxxxxxxxx, who is not the Owner, during the Accumulation Period, the Owner automatically becomes the Annuitant. The Owner may designate a new Annuitant, subject to the Company's underwriting rules then in effect. If the Owner is a non-natural person, the death of an Annuitant will be treated as the death of the Owner and a new Annuitant may not be designated. Upon the death of an Annuitant during the Annuity Period, the death benefit, if any, will be as specified in the Annuity Option elected. Death benefits will be paid at least as rapidly as under the method of distribution in effect at the Annuitant's death.
Death of Annuitant. On receipt of due proof of the death of the Annuitant before Annuity Payments have begun, the Company will pay the Death Benefit to the Beneficiary as of the day on which such due proof is received by the Company. The Death Benefit will be the greatest of the following amounts:
(a) The Accumulated Value on the date of receipt of Due Proof of Death at the Home Office of the Company;
(b) The Accumulated Value on the Specified Contract Anniversary immediately preceding the date of death, increased by the dollar amount of any purchase payments made and reduced by the dollar amount of any partial withdrawals since the immediately preceding Specified Contract Anniversary; or
(c) 100% of all purchase payments made under the Contract, reduced by the dollar amount of any partial withdrawals since the Date of Issue. The Specified Contract Anniversary is every seventh contract anniversary (i.e. 7th, 14th, 21st, etc.) If the Annuitant and the Owner are one in the same at the time of the Annuitant's death and the proceeds are payable to (or for the benefit of) the Annuitant's surviving spouse, such spouse shall have the right to become the Annuitant under the contract. If the Annuitant dies at a time when the Owner of the contract is not an individual, the Annuitant will be considered to be the Owner for the purpose of this section. On receipt of due proof of death of the Annuitant after Annuity Payments have begun under an Annuity Option, if any payments remain under the Option they will be paid to the Beneficiary as provided by the Option. Unless otherwise provided in the Beneficiary designation, if no Beneficiary survives the Annuitant, the proceeds will be paid in one sum to the Owner, if living; otherwise, to the Owner's estate.
Death of Annuitant. (a) Certificate Holder is Annuitant: When Beneficiary: the Certificate Holder is the Annuitant and the Annuitant dies under option 1 or 2, or both the Annuitant and the second Annuitant die under option 3(d), the present value of any remaining guaranteed payments will be paid in one sum to the Beneficiary, or upon election by the Beneficiary, any remaining payments will continue to the Beneficiary. If option 3 has been elected and the Certificate Holder dies, the remaining payments will continue to the successor payee. If no successor payee has been designated, the Beneficiary will be treated as the successor payee. If the Account has joint Certificate Holder's, the surviving joint Certificate Holder will be deemed the successor payee.
Death of Annuitant. Following the death of the Annuitant, the property of the Plan will be paid to the surviving Spouse of the Annuitant unless the surviving Spouse is not entitled to survivor benefits under Pension Legislation. The surviving Spouse may instruct the Trustee to pay out the property of the Plan in cash or to transfer the property of the Plan to a registered retirement savings plan, a registered retirement income fund, or life annuity as permitted by Pension Legislation and paragraph 60(l) of the Act. If there is no surviving Spouse or the surviving Spouse waives spousal entitlement in the manner required by Pension Legislation, the property of the Plan will be paid to the person designated as beneficiary of the Plan, or if no such person has been designated, to the legal representative of the deceased Annuitant’s estate.
