DEATH OF THE OWNER. If an Owner dies before the Annuity Date and there is a surviving Joint Owner, a Death Benefit is payable to the surviving Joint Owner. If an Owner dies prior to the Annuity Date and there is no surviving Joint Owner, a Death Benefit is payable to the Beneficiary. Unless the Owner and Joint Owner(if any) have previously designated a payment option, the Beneficiary must elect one of the Death Benefit payment options below. The value of the Death Benefit will be determined as of the date We receive proof of death in a form acceptable to Us. We will pay the Death Benefit equal to the greater of:
Appears in 5 contracts
Samples: Variable Separate Account Nine, Variable Separate Account Nine, Aig Sunamerica Life Assurance Co
DEATH OF THE OWNER. If an Owner dies before the Annuity Date and there is a surviving Joint Owner, a Death Benefit is payable to the surviving Joint Owner. If an Owner dies prior to the Annuity Date and there is no surviving Joint Owner, a Death Benefit is payable to the Beneficiary. Unless the Owner and Joint Owner(if Owner (if any) have previously designated a payment option, the Beneficiary must elect one of the Death Benefit payment options below. The value of the Death Benefit will be determined as of the date We receive proof of death in a form acceptable to Us. We will pay the Death Benefit equal to the greater of:
Appears in 4 contracts
Samples: Variable Separate Account Nine, Variable Separate Account Nine, Variable Annuity Account Nine
DEATH OF THE OWNER. If an Owner dies before the Annuity Date and there is a surviving Joint Owner, a Death Benefit is payable to the surviving Joint Owner. If an Owner dies prior to the Annuity Date and there is no surviving Joint Owner, a Death Benefit is payable to the Beneficiary. Unless the Owner and Joint Owner(if any) have previously designated a payment option, the Beneficiary must elect one of the Death Benefit payment options below. The value of the Death Benefit will be determined as of the date We receive proof of death in a form acceptable to Us. If there has been a change of Owner, the Death Benefit will be the Contract Value. Otherwise, We will pay the Death Benefit equal to the greater of:
Appears in 3 contracts
Samples: Variable Account I of Aig Life Ins Co, Variable Account I of Aig Life Ins Co, Variable Account a American Intl Life Assur Co of New York
DEATH OF THE OWNER. If an Owner dies before the Annuity Date and there is a surviving Joint Owner, a Death Benefit is all benefits under this contract are payable to the surviving Joint Owner. If an Owner dies prior to the Annuity Date and there is no surviving Joint Owner, a Death Benefit is payable to the Beneficiary. Unless the Owner and Joint Owner(if any) have previously designated a payment option, the Beneficiary must elect one of the Death Benefit payment options below. The value of the Death Benefit will be determined as of the date We receive proof of death in a form acceptable to Us. If there has been a change of Owner, the Death Benefit will be the Contract Value. Otherwise, We will pay the Death Benefit equal to the greater of:
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