Common use of DEATH PROCEEDS PRIOR TO ANNUITY COMMENCEMENT DATE Clause in Contracts

DEATH PROCEEDS PRIOR TO ANNUITY COMMENCEMENT DATE. The amount of death proceeds will be the greater of (a) or (b) where: (a) is the Policy Value on the date we receive due proof of death and an election of a method of settlement and; (b) is the Guaranteed Minimum Death Benefit (GMDB), if any, plus any additional premium payments received, (less any Gross Partial Withdrawals) from the date of death to the date of payment of death proceeds. For purposes of this policy, due proof of death means: (a) a certified copy of the death certificate; or (b) a certified copy of a decree of a court of competent jurisdiction as to a finding of death; and (c) any other proof or other documents required by us. If You have not selected a payment option by the date of death, the beneficiary may make such election within one year of the date we receive due proof of the Owner’s or Annuitant’s death as described in C below. The beneficiary may elect to receive the death proceads as a lump sum payment or may use the death proceeds to provide any of the annuity Income Options described in Section 10. We will pay interest on death proceeds from the date of death to the date of payment at an annual interest rate of 1.5%, or the guaranteed annual rate used for calculating settlement options, whichever is greater.

DEATH PROCEEDS PRIOR TO ANNUITY COMMENCEMENT DATE. The amount of death proceeds will be the greater of (a) or (b) where:; (a) is the Policy Value on the date we receive due proof of death and an election of a method of settlement settlement, and; (b) is the Guaranteed Minimum Death Benefit (GMDB), if any, plus any additional premium payments received, (less any Gross Partial Withdrawals) from the date of death to the date of payment of death proceeds. For purposes of this policy, due proof of death means: (a) a certified copy of the death certificate; or (b) a certified copy of a decree of a court of competent jurisdiction as to a finding of death; and (c) any other proof or other documents required by us. If You have not selected a payment option by the date of death, the beneficiary may make such election within one year of the date we receive due proof of the Owner’s or Annuitant’s death as described in C below. The beneficiary may elect to receive the death proceads proceeds as a lump sum payment or may use the death proceeds to provide any of the annuity Income Options described in Section 10. We will pay interest on death proceeds from the date of death to the date of payment at an annual interest rate of 1.5%, or the guaranteed annual rate used for calculating settlement options, whichever is greater.

DEATH PROCEEDS PRIOR TO ANNUITY COMMENCEMENT DATE. The amount of death proceeds will be the greater of (a) or (b) where: (a) is the Policy Value on the date we receive due proof of death and an election of a method of settlement and; (b) is the Guaranteed Minimum Death Benefit (GMDB), if any, plus any additional premium payments received, (less any Gross Partial Withdrawals) from the date of death to the date of payment of death proceeds. For purposes of this policy, due proof of death means: (a) a certified copy of the death certificate; or (b) a certified copy of a decree of a court of competent jurisdiction as to a finding of death; and (c) any other proof or other documents required by us. If You have not selected a payment option by the date of death, the beneficiary may make such election within one year of the date we receive due proof of the Owner’s or AnnuitantXxxxxxxxx’s death as described in C below. The beneficiary may elect to receive the death proceads proceeds as a lump sum payment or may use the death proceeds to provide any of the annuity Income Options described in Section 10. We will pay interest on death proceeds from the date of death to the date of payment at an annual interest rate of 1.5%, or the guaranteed annual rate used for calculating settlement options, whichever is greater.

DEATH PROCEEDS PRIOR TO ANNUITY COMMENCEMENT DATE. The amount of death proceeds will be the greater of (a) or (b) where: (a) is the Policy Value on the date we receive due proof of death and an election of a method of settlement settlement, and; (b) is the Guaranteed Minimum Death Benefit (GMDB), if any, plus any additional premium payments received, (less any Gross Partial Withdrawals) from the date of death to the date of payment of death proceeds. For purposes of this policy, due proof of death means: (a) a certified copy of the death certificate; or (b) a certified copy of a decree of a court of competent jurisdiction as to a finding of death; and (c) any other proof or other documents required by us. If You have not selected a payment option by the date of death, the beneficiary may make such election within one year of the date we receive due proof of the Owner’s or Annuitant’s death as described in C below. The beneficiary may elect to receive the death proceads proceeds as a lump sum payment or may use the death proceeds to provide any of the annuity Income Options described in Section 10. We will pay interest on death proceeds from the date of death to the date of payment at an annual interest rate of 1.5%, or the guaranteed annual rate used for calculating settlement options, whichever is greater.