DEATH OF ANNUITANT WHO IS NOT AN OWNER. 7.2.1 If the Annuitant dies prior to the Annuity Date and the Annuitant is not an Owner, the Owner, provided the Owner is a natural person, may designate a new Annuitant. If one is not designated, the Owner will become the Annuitant. If the Owner is a non-natural person, the death of the Annuitant shall be treated as the death of an Owner.
Appears in 3 contracts
Samples: Annuity Contract (Ml of New York Variable Annuity Separate Account C), Ira Annuity Contract (Merrill Lynch Life Variable Annuity Separate Account D), Annuity Contract (Ml of New York Variable Annuity Separate Account A)
DEATH OF ANNUITANT WHO IS NOT AN OWNER. 7.2.1 7.1 If the Annuitant dies prior to the Annuity Date and the Annuitant Owner is not an Ownerthe Annuitant, the Owner, provided the Owner is a natural person, may designate a new Annuitant. If one is not designated, the Owner will become be the Annuitant, provided that the Owner is an individual. If the Owner is a non-natural personnot an individual, the death of the Annuitant shall will be treated as the death of an the Owner. See Section 6.
Appears in 1 contract
Samples: Single Premium Modified Guaranteed Annuity Contract (Merrill Lynch Life Insurance Company)
