ELECTION OF AN ANNUITY PAYMENT PLAN. If this is a Nonqualified Contract, You may elect how the death benefit described in this contract is to be paid in the event of Your death before the Annuitization Start Date. You must make the election by Written Request or other method agreed to by Us. In this event the death benefit shall be payable as so elected by You, rather than as requested by the beneficiary. If for any reason such election does not satisfy Section 72 of the Code or related distribution requirements, the election will be void and the beneficiary will then be permitted to elect payment pursuant to the provisions of the contract. This provision is available for Tax Qualified Contracts if agreed to by Us.
Appears in 6 contracts
Samples: Deferred Annuity Contract (Riversource of New York Variable Annuity Account), Deferred Annuity Contract (Riversource Variable Account 10), Deferred Annuity Contract (Riversource of New York Variable Annuity Account)
ELECTION OF AN ANNUITY PAYMENT PLAN. If this is a Nonqualified Contract, You may elect how the death benefit described in this contract herein is to be paid under the contract in the event of Your death before the Annuitization Start Date. You must make the election Date by Written Request or other method agreed to by Us. In this event the death benefit shall be payable as so elected by You, rather than as requested by the beneficiary. If for any reason such election does not satisfy Section 72 of the Code or related distribution requirements, the election will be void and the beneficiary will then be permitted to elect payment pursuant to the provisions of the contract. This provision is available for Tax Qualified Contracts if agreed to by Us.
Appears in 4 contracts
Samples: Deferred Annuity Contract (Riversource of New York Variable Annuity Account 2), Deferred Annuity Contract (Riversource of New York Variable Annuity Account 2), Deferred Annuity Contract (Riversource Variable Annuity Account)
ELECTION OF AN ANNUITY PAYMENT PLAN. If this is a Nonqualified Contract, You may elect how the death benefit described in this contract is to be paid in the event of Your death before the Annuitization Start Date. You must make the election by Written Request or other method agreed to by Us and recorded by Us. In this event the death benefit shall be payable as so elected by You, rather than as requested by the beneficiary. If for any reason such election does not satisfy Section 72 of the Code or related distribution requirements, the election will be void and the beneficiary will then be permitted to elect payment pursuant to the provisions of the contract. This provision is available for Tax Qualified Contracts if agreed to by Us.
Appears in 1 contract
Samples: Deferred Variable Annuity Contract (Riversource Variable Account 10)
