Common use of Election and Effective Date of Election Clause in Contracts

Election and Effective Date of Election. During the lifetime of the Participant and prior to the Annuity Commencement Date, the Participant may elect to have the Death Benefit applied under one or more of the Annuity Options in accordance with the Certificate's settlement provisions. The Participant may elect a Variable Annuity or a Fixed Annuity or a combination of both for the Beneficiary as Payee after the death of the Participant. The Participant may make or subsequently revoke this election by filing with the Company, at its Annuity Service Mailing Address, a written election or revocation of an election in such form as the Company may require. The Participant's election or revocation of an election of a method of settlement of the Death Benefit will become effective on the date that the Company receives it. For the purposes of the "Payment of Death Benefit" section below, the Participant's election of the method of settlement of the Death Benefit that is in effect on the date of death of the Covered Person will be deemed effective on the date that the Company receives Due Proof of Death of the Covered Person. If no election of a method of settlement of the Death Benefit by the Participant is in effect on the date of death of the Covered Person, the Beneficiary may elect to (a) receive the Death Benefit in the form of a cash payment, in which event the Company will cancel the Participant's Account; or (b) have the Death Benefit applied under one or more of the Annuity Options in accordance with the settlement provisions to effect, on the Annuity Commencement Date determined in the "Payment of Death Benefit" section below, a Variable Annuity or a Fixed Annuity or a combination of both for the Beneficiary as Payee. The Company may permit other methods of settlement. In no event shall any method of settlement be exercised which would violate the mandatory distribution requirements of Section 72(s) of the Code. For additional options available if the designated Beneficiary is the surviving spouse, please refer to the section of this Certificate entitled "OWNERSHIP PROVISIONS - Death of Participant." A method of settlement may be elected by filing with the Company, at its Annuity Service Mailing Address, a written election in such form as the Company may require. Any written election of a method of settlement of the Death Benefit by the Beneficiary will become effective on the later of: (a) the date that the Company receives the election; or (b) the date that the Company receives Due Proof of Death of the Participant. If the Company does not receive the Beneficiary's written election within 60 days following the date that the Company receives Due Proof of Death of the Covered Person, the Beneficiary shall be deemed to have elected to defer receipt of payment under any Death Benefit option until such time as a written election is submitted to the Company or a distribution is required by law.

Election and Effective Date of Election. During the lifetime of the Participant and prior to the Annuity Commencement Date, the Participant may elect to have the Death Benefit applied under one or more of the Annuity Options in accordance with the Certificate's settlement provisions. The Participant may elect a Variable Annuity or a Fixed Annuity or a combination of both for the Beneficiary as Payee after the death of the ParticipantCovered Person. The Participant may make or subsequently revoke this election by filing with the Company, at its Annuity Service Mailing Address, a written election or revocation of an election in such form as the Company may require. The Participant's election or revocation of an election of a method of settlement of the Death Benefit will become effective on the date that the Company receives it. For the purposes of the "Payment of Death Benefit" section below, the Participant's election of the method of settlement of the Death Benefit that is in effect on the date of death of the Covered Person will be deemed effective on the date that the Company receives Due Proof of Death of the Covered Person. If no election of a method of settlement of the Death Benefit by the Participant is in effect on the date of death of the Covered Person, the Beneficiary may elect to (a) receive the Death Benefit in the form of a cash payment, in which event the Company will cancel the Participant's AccountAccount will be cancelled; or (b) have the Death Benefit applied under one or more of the Annuity Options in accordance with the settlement provisions to effect, on the Annuity Commencement Date determined in the "Payment of Death Benefit" section below, a Variable Annuity or a Fixed Annuity or a combination of both for the Beneficiary as Payee. The Company may permit other methods of settlement. In no event shall any method of settlement be exercised which would violate the mandatory distribution requirements of Section 72(s) of the Code. For additional options available if the designated Beneficiary is the surviving spouse, please refer to the section of this Certificate entitled "OWNERSHIP PROVISIONS - Death of Participant." A method of settlement may be elected by filing with the Company, at its Annuity Service Mailing Address, a written election in such form as the Company may require. Any written election of a method of settlement of the Death Benefit by the Beneficiary will become effective on the later of: of (a) the date that the Company receives the electionelection ; or (b) the date that the Company receives Due Proof of Death of the ParticipantCovered Person. If the Company does not receive the Beneficiary's written election within 60 days following the date that on which the Company receives Due Proof of Death of the Covered Person, the Beneficiary shall may be deemed to have elected to defer receipt of payment under any Death Benefit option until such time as a written election is submitted to the Company or a distribution is required by law.