Death of Owner or Annuitant Sample Clauses

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Death of Owner or Annuitant. Upon the death of the Owner or the Annuitant, one of the following three provisions will apply, depending upon which Option is elected under the Death of Owner or the Death of Annuitant provisions of the Contract: 1. If the Contract is continued under Option D of the Death of Owner provision of the Contract, then: a. If the oldest new Owner and the oldest Annuitant are age 80 or younger on the date we determine the Death Proceeds, then this rider will continue. The Enhanced Beneficiary Protection Benefit will continue to be recalculated for purchase payments, withdrawals, and on each Contract anniversary after the date we determine the Death Proceeds until the earlier of: o The first Contract anniversary following the 80th birthday of either the oldest new Owner or the oldest Annuitant, whichever is earlier. (After the 80th birthday of either the oldest new Owner or the oldest Annuitant, whichever is earlier, the Enhanced Beneficiary Protection Benefit will be recalculated only for purchase payments and withdrawals); or o The date we next determine the Death Proceeds. b. If either the oldest new Owner or the oldest Annuitant is older than age 80 on the date we determine the Death Proceeds, then this rider will terminate and the corresponding Mortality and Expense Risk charge for this rider will cease as of that date. 2. If the Contract is continued under Option D of the Death of Annuitant provision of the Contract, then: This rider will continue and the Enhanced Beneficiary Protection Benefit will continue to be calculated according to Section I above. 3. If the Contract is not continued under either 1. or 2. above, then: The Death Proceeds will be determined under the terms and conditions stated in the Contract and Section I above. We will determine the value of the Enhanced Beneficiary Protection Benefit on the date we determine the Death Proceeds. This rider will terminate and the corresponding Mortality and Expense Risk Charge for this rider will cease as of that date. Except as provided above, all other terms and conditions of the Death of Owner and the Death of Annuitant provisions of the Contract continue to apply.

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Death of Owner or Annuitant. 17 BEFORE THE ANNUITY INCOME DATE .............................. 17 AFTER THE ANNUITY INCOME DATE ................................ 17

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Death of Owner or Annuitant. A benefit may be paid to the owner determined immediately after the death if, prior to the Payout Start Date: - any owner dies; or - the annuitant dies and the owner is not a natural person. If the owner eligible to receive the death benefit is not a natural person, the owner may elect to receive the benefit in one or more distributions. Otherwise, if the owner is a natural person, the owner may elect to receive a benefit either in one or more distributions or by periodic payments through an Income Plan. A Death Benefit will be paid: 1) if the owner elects to receive the Death Benefit distributed in a single payment within 180 days of the date of death, and 2) if the Death Benefit is paid as of the day the value of the Death Benefit is determined. Otherwise, the Settlement Value will be paid. In any event, the entire value of the Contract must be distributed within five (5) years after the date of death unless an Income Plan is elected or a surviving spouse continues the Contract in accordance with the following provisions. Payments from the Income Plan must begin within one year of the date of death and must be payable throughout: - the life of the owner; or

Death of Owner or Annuitant. We will pay the death benefit when we receive due proof of death while this contract is in force and before the annuity date, if -- any owner dies; or -- the annuitant dies and the owner is not a natural person. If the owner eligible to receive a benefit is not a natural person, the owner may elect to receive the benefit in one or more distributions. Otherwise, if the owner is a living individual, the owner may elect to receive a benefit either in one or more distributions or by annuity payments through an annuity option. A death benefit will be paid if: - the owner elects to receive the death benefit within 180 days of the date of death, and - payment is made as of the date we determine the value of the death benefit, as defined at the end of the death benefit provision. Otherwise, the settlement value will be paid. In any event, the entire value of the contract must be distributed within five (5) years after the date of death unless an annuity option is elected or a surviving spouse continues the contract in accordance with the following provisions. We reserve the right to extend the 180 day period when we will pay the death benefit. If an annuity option is elected, payments from the annuity option must begin within one year of the date of death and must be payable throughout: - the life of the owner; or

Death of Owner or Annuitant. If this contract is jointly owned, the following provisions apply upon the death of the first owner. If the owner is not a natural person, the annuitant is deemed to be the owner for purposes of these provisions and the following provisions would apply upon the death of the first annuitant. DEATH OF OWNER BEFORE THE MATURITY DATE If an owner dies before the maturity date, we will pay the death benefit, as described below, to the surviving joint owner. In such a case, the surviving joint owner will be deemed the beneficiary for purposes of the death benefit provisions of this contract. If there is no surviving joint owner, we will pay the death benefit to the beneficiary. If we are notified of your death before any requested transaction is completed, we will cancel the request. DEATH OF OWNER ON OR AFTER THE MATURITY DATE If an owner dies on or after the maturity date, but before we have paid all guaranteed annuity payments, we will pay the remaining guaranteed annuity payments to the surviving joint owner as payee. If there is no surviving joint owner, we will make those payments to the beneficiary as payee. After an owner’s death, all annuity payment remaining will be distributed at least as rapidly as under the method of distribution being used as of the date of the owner’s death. DEATH OF ANNUITANT BEFORE THE MATURITY DATE If the annuitant is an owner, the annuitant’s death will be treated like the death of an owner. If there is more than one annuitant, this provision applies at the death of the last surviving annuitant, provided however, if the owner is not a natural person, this provision applies at the death of the first annuitant. If the sole annuitant is not an owner and dies before the maturity date, you will become the annuitant. If there is more than one owner, the youngest owner will become the annuitant. Provided, however, if the owner is not a natural person, the annuitant’s death will be treated as the death of an owner. DEATH OF ANNUITANT ON OR AFTER THE MATURITY DATE If the annuitant dies on or after the maturity date, we will pay the payee any remaining guaranteed annuity payments based on the settlement option in place at the time of the annuitant’s death.

Death of Owner or Annuitant. BEFORE THE ANNUITY INCOME DATE Death Benefit If an Owner or an Annuitant dies, we will pay a Death Benefit equal to the Contract Value. The Contract Value will be determined as of the Effective Valuation Date. The Death Benefit will be paid to the Owner of the contract. If there is no Owner or Joint Owner, we will pay the Death Benefit to the Beneficiary. Payment of the Death Unless You have specified otherwise, the Death Benefit will be paid within 7 days of the Effective Valuation Date. Alternatively, the person entitled to the Death Benefit may, by Request, elect to receive an annuity over his or her life expectancy (or over a period not extending beyond such life expectancy), with distributions beginning within one year from the date of death. If the sole Beneficiary is the deceased Owner's spouse, the Beneficiary may elect to continue the contract as the Owner and Annuitant. As of the date of such election, annuity payments will be adjusted to reflect any change of Annuitant and Annuity Income Date. The new Annuity Income Date must be within twelve months of the Issue Date (see the Specifications Page). Any subsequent spouse of the new Owner, if named as the Beneficiary, may not continue this contract.

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