Common use of DEATH PAYMENTS Clause in Contracts

DEATH PAYMENTS. If a Participant dies before his Participant's Accounts have been cancelled, the dollar value will be paid to the Contract-Holder. The payment will be made in one sum unless the Contract-Holder directs Prudential to purchase an annuity for the Participant's beneficiary pursuant to the Plan. However, the Contract-Holder will retain all rights with respect to the annuity. Proof of the Participant's death must be received by Prudential before any payment will be made. GVA-1010 Serial 300 3.1-3.2 5/87 The annuity form may be any of those described in section 4.4. No contributions may be made to the Account after the Participant's death. If a one sum payment is made on the Plan beneficiary's behalf within one year of the Participant's death, it will be at least equal to the contributions made for him under this contract less any withdrawals and transfers. Section 3.1 does not apply.

DEATH PAYMENTS. If a Participant dies before his Participant's Accounts have Account has been cancelled, the dollar value will be paid to the Contract-Holder. The payment will be made in one sum unless the Contract-Holder directs Prudential to purchase an annuity for the Participant's beneficiary pursuant to the Plan. However, the Contract-Holder will retain all rights with respect to the annuity. Proof of the Participant's death must be received by Prudential before any payment will be made. GVA-1010 Serial 300 3.1-3.2 5/87 9/84 The annuity form may be any of those described in section 4.4. No contributions may be made to the Account after the Participant's death. If a one sum payment is made on the Plan plan beneficiary's behalf within one year of the Participant's death, it will be at least equal to the contributions made for him under this contract less any withdrawals and transfers. Section 3.1 does not apply.