DEATH PRIOR TO ANNUITY DATE Sample Clauses

DEATH PRIOR TO ANNUITY DATE. If an Owner dies prior to the Annuity Date (or if there are co-owners, upon the death of the first co-owner), we will pay the beneficiary the death benefit specified below in a lump sum or, if requested, under an Annuity Option under Section 7.1.
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DEATH PRIOR TO ANNUITY DATE. On the death of an Owner prior to the Annuity Date, we will pay to the beneficiary the death benefit representing the entire interest in the Contract, unless Section
DEATH PRIOR TO ANNUITY DATE. If neither the Annuitant nor the Survivor, if any, is alive on the Annuity Date, a refund with respect to the Annuity Contract will be payable to You or , if You are not living, to Your estate. The refund will be equal to the Premium paid in consideration for the Annuity Contract less any payments which have been made, and shall be payable once We receive a notification of death acceptable to Us. In the event an Annuitant dies after the Annuity Date, any remaining Annuity Benefit will be paid in accordance with the terms of this Annuity Contract. We may require a death certificate, physician's written statement certifying the death of the Annuitant or Joint Annuitant, if any, or any other reasonable evidence to constitute proof of death. Any death benefit paid by Us in good faith in accordance with the terms of this Annuity Contract shall, to the extent of such death benefit, fully discharge Us from any further liability.
DEATH PRIOR TO ANNUITY DATE. On the death of any Owner prior to the Annuity Date, we will pay your Beneficiary an amount equal to the Account Value plus any positive Market Value Adjustment as of the date of payment. See Section 4.l(c). Subject to Section 6.2 and 6.3 such payments will be made in a lump sum unless an annuity option is chosen. ML-MGA-003 SPECIMEN

Related to DEATH PRIOR TO ANNUITY DATE

  • ANNUITY OPTIONS The following Annuity Options are available under this Contract. Additional options may become available in the future:

  • Qualified Joint and Survivor Annuity An immediate annuity for the life of the Participant with a survivor annuity for the life of the spouse which is not less than 50% and not more than 100% of the amount of the annuity which is payable during the joint lives of the Participant and the spouse and which is the amount of benefit which can be purchased with the Participant's vested account balance. The percentage of the survivor annuity under the Plan shall be 50% (unless a different percentage is elected by the Employer in the Adoption Agreement).

  • Retiree Life Insurance Employees who retire under the Monroe County Employees' Retirement System shall be eligible for $4,000.00 term life insurance. All employees hired by the Employer on or after October 1, 2007 shall not be eligible for Retiree Life Insurance.

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • INSTRUCTIONS FOR COMPLETING REPAYMENT ELECTION FORM AND EXERCISING REPAYMENT OPTION Capitalized terms used and not defined herein have the meanings defined in the accompanying Repayment Election Form.

  • Starting Date Unless a specific (fixed) starting date is duly justified and agreed upon during the preparation of the Grant Agreement, the project will start on the first day of the month following the entry info force of the Grant Agreement (NB : entry into force = signature by the Commission). Please note that if a fixed starting date is used, you will be required to provide a detailed justification on a separate note.

  • Split Dollar Life Insurance The Company shall pay to the Executive a lump sum equal to the cost on the Termination Date of purchasing, at standard independent insurance premium rates, an individual

  • Annuity 24.1 If the policy schedule states that the insured amount is a surviving dependant's annuity within the meaning of Section 3.125(1)(b) of the Income Tax Act 2001, this article shall apply. a. The entitlement to an annuity payment cannot be surrendered, disposed of, divulged or used as security and, in general, no legal action can be taken with regard to this insurance that may lead the tax authorities to take back the premium deduction they received for this insurance in the past. b. The insurer shall be held liable by law for the payment of the wage and income tax and revision interest owed by the policyholder or the person entitled to an annuity as soon as a circumstance referred to under point a arises. c. The insurer will then be entitled to set off the amount of the maximum wage and income tax and revision interest due against the value of the insured annuity(s), irrespective of whether these are paid out or not.

  • Survivor Benefit Upon the death of a regular employee who leaves a spouse and/or dependants enrolled in the Medical Services Plan, Dental Plan and Extended Health Benefit Plan, such enrolment may continue for twelve (12) months following the employee’s death, provided the enrolled family members pay the employee’s share of the cost of the premium for the plans. The Employer shall advise the survivor of this benefit.

  • Fixed Annuity 10 1.16 Fund(s) ........................................................... 10 1.17

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