Common use of Distributions After Death Clause in Contracts

Distributions After Death. DEATH BEFORE MATURITY DATE If any Owner dies prior to the Maturity Date (or date Annuity Payments begin, if earlier) the Death Benefit will equal the Contract Value. Upon death of the Owner who is also the Annuitant, we will pay the Death Benefit in one sum to the Beneficiary. If the co-Owner predeceases the Owner, the Owner will be treated as the Beneficiary. The Beneficiary may continue the Contract as the Owner, subject to the requirements of Section 72(s) of the Internal Revenue Code. If the Contract can not continue under Section 72(s), or if the Beneficiary elects not to continue the Contract, the Death Benefit will be distributed in one sum. The Contract will terminate if the Death Benefit is taken in one sum. Written notice and proof of death and all required claim forms must be received at the Company's Annuities Service Center prior to any distribution.

Distributions After Death. DEATH BEFORE MATURITY DATE If any Owner dies prior to the Maturity Date (or date Annuity Payments begin, if earlier) the Death Benefit will equal to the Contract Value. Upon death of the Owner who is also the Annuitant, we will pay the Death Benefit in one sum to the Beneficiary. If the co-Owner predeceases the Owner, the Owner will be treated as the Beneficiary. The Beneficiary may continue the Contract as the Owner, subject to the requirements of Section 72(s) of the Internal Revenue Code. If the Contract can not continue under Section 72(s), or if the Beneficiary elects not to continue the Contract, the Death Benefit will be distributed in one sum. The Contract will terminate if the Death Benefit is taken in one sum. Written notice and proof of death and all required claim forms must be received at the Company's Annuities Service Center prior to any distribution.

Distributions After Death. DEATH BEFORE MATURITY DATE If any Owner dies prior to the Maturity Date (or date Annuity Payments begin, if earlier) the Death DATE Benefit will equal to the Contract Value. Upon death of the Owner who is also the Annuitant, we will pay the Death Benefit in one sum to the Beneficiary. If the co-Owner predeceases the Owner, the Owner will be treated as the Beneficiary. The Beneficiary may continue the Contract as the Owner, subject to the requirements of Section 72(s) of the Internal Revenue Code. If the Contract can not continue under Section 72(s), or if the Beneficiary elects not to continue the Contract, the Death Benefit will be distributed in one sum. The Contract will terminate if the Death Benefit is taken in one sum. Written notice and proof of death and all required claim forms must be received at the Company's Annuities Service Center prior to any distribution.