Common use of Form of Death Benefit Clause in Contracts

Form of Death Benefit. Death Benefit payments will be made annually under the terms of Option A with a period certain of four (4) years, as described in the SETTLEMENT OPTIONS section of this Contract. In lieu of that, a Participant may elect at any time before his or her death to have Death Benefit payments made in one (1) lump sum or pursuant to any available option described in the SETTLEMENT OPTIONS section of this Contract. A Participant may change his or her election of a settlement option at any time before his or her death. If the Participant does not make any such election, the Beneficiary may make that election at any time after the death of the Participant and before the Death Benefit Commencement Date. A Beneficiary may change his or her own election of a settlement option so long as we receive the request for a change at least thirty (30) days prior to the date that Death Benefit payments are scheduled to begin. Any election or change of election must be made by Written Request. An election of a settlement option is subject to restrictions stated in the tax qualification endorsement.

Form of Death Benefit. Death Benefit payments will be made annually under the terms of Option A with a period certain of four (4) years, as described in the SETTLEMENT OPTIONS section of this Contract. In lieu of that, a Participant may elect at any time before his or her death to have any Death Benefit payments made paid in one (1) the form of a lump sum or pursuant to any available option described in the SETTLEMENT OPTIONS section of this Contract. A Participant may change his or her election of a settlement option at any time before his or her death. If the a Participant does not make any such election, the Beneficiary may make that election at any time after the death of the Participant and before the Death Benefit Commencement Date. A Beneficiary may change his or her own election of a settlement option so long as we receive the request for a change if at least thirty (30) days prior to the date that Death Benefit payments are scheduled to begin. Any election or change of election must be made by Written Request. An election of a settlement option is subject to restrictions stated in the tax qualification endorsement.