Common use of DEATH PAYMENTS Clause in Contracts

DEATH PAYMENTS. If a Participant dies before his Participant's Account has been cancelled, the dollar value will be paid to his Beneficiary (see section 7.6). The payment will be made in one sum unless the Participant has directed Prudential to purchase an annuity for the Beneficiary. Instead of a one sum payment, the Beneficiary may elect to have the dollar value of the Participant's Account applied to purchase an annuity. Proof of the Participant's death must be received by Prudential before any payment will be made. GVA-120-82 Serial 300 3.1-3.2

DEATH PAYMENTS. If a Participant dies before his Participant's Account has been cancelled, the dollar value will be paid to his Beneficiary (see section 7.6). The payment will be made in one sum unless the Participant has directed Prudential to purchase an annuity for the Beneficiary. Instead of a one sum payment, the Beneficiary may elect to have the dollar value Contract-Holder on behalf of the Participant's Account applied to purchase an annuityBeneficiary. Proof of the Participant's death must be received by Prudential before any payment will be made. GVA-120-82 Death benefits payable under the contract on behalf of the Participant's Beneficiary prior to the date on which distributions have commenced for the Participant pursuant to section 4.1 of the contract, will be paid as GVA-1010 (as modified by Group Annuity Amendment Form GAA-7792) Serial 300 3.1-3.2