Common use of Guarantee of Principal Death Benefit Clause in Contracts

Guarantee of Principal Death Benefit. The Guarantee of Principal Death Benefit is equal to the greater of: a. the current Contract Value as of the date on which the death claim is approved by LNL for payment; or b. the sum of all Purchase Payments minus all withdrawals, partial annuitizations, and premium tax incurred, if any. On or after the Contract Date, but prior to the Annuity Commencement Date, the Owner (or a spouse who continues the Contract as the Owner) may choose to terminate the EGMDB option by giving written notice to LNL. The Guarantee of Principal Death Benefit option will then be effective as of the Valuation Date on which the written notification to change the Death Benefit option is received at the Home Office. Termination of the EGMDB option by the Owner or surviving spouse who assumed the Contract will be permanent and final. Upon the death of the Owner, Joint Owner, or Annuitant of this Contract, if a surviving spouse continues the Contract, the excess, if any, of the Death Benefit over the current Contract Value as of the date on which the death claim is approved by LNL for payment will be credited into the Contract. This benefit will only apply one time for each Contract. If the Owner is a corporation or other non-individual (non-natural person) and there are Joint Annuitants, upon the death of the first Joint Annuitant to die, if the Contract is continued, the excess, if any, of the Death Benefit over the current Contract Value as of the date on which the death claim is approved by LNL for payment will be credited into the Contract. This benefit will only apply one time for each Contract.

Guarantee of Principal Death Benefit. The Guarantee of Principal Death Benefit is equal to the greater of: a. the current Contract Value as of the date on which the death claim is approved by LNL for payment; or b. the sum of all Purchase Payments minus all withdrawals, partial annuitizations, and premium tax incurred, if any. On or after the Contract Date, but prior to the Annuity Commencement Date, the Owner (or a spouse who continues the Contract as the Owner) may choose to terminate the EGMDB option option, if in effect, by giving written notice to LNL. The Guarantee of Principal Death Benefit option will then be effective as of the Valuation Date on which the written notification to change the Death Benefit option is received at the Home Office. Termination of the EGMDB option by the Owner or surviving spouse who assumed the Contract will be permanent and final. Upon the death of the Owner, Joint Owner, or Annuitant of this Contract, if a surviving spouse continues the Contract, the excess, if any, of the Death Benefit over the current Contract Value as of the date on which the death claim is approved by LNL for payment will be credited into the Contract. This benefit will only apply one time for each Contract. If the Owner is a corporation or other non-individual (non-natural person) and there are Joint Annuitants, upon the death of the first Joint Annuitant to die, if the Contract is continued, the excess, if any, of the Death Benefit over the current Contract Value as of the date on which the death claim is approved by LNL for payment will be credited into the Contract. This benefit will only apply one time for each Contract.

Guarantee of Principal Death Benefit. The Guarantee of Principal Death Benefit is equal to the greater of: a. the current Contract Value as of the date on which the death claim is approved by LNL LNY for payment; or b. the sum of all Purchase Payments minus decreased proportionally by all withdrawals, partial annuitizations, and premium tax incurred, if any. On or after the Contract Date, but prior to the Annuity Commencement Date, the Owner (or a spouse who continues the Contract as the Owner) may choose to terminate the EGMDB option by giving written notice to LNLLNY at its Servicing Office. The Guarantee of Principal Death Benefit option will then be effective as of the Valuation Date on which the written notification to change the Death Benefit option is received at the Home Servicing Office. Termination of the EGMDB option by the Owner or surviving spouse who assumed the Contract will be permanent and final. Upon the death of the Owner, Joint Owner, or Annuitant of this Contract, if a surviving spouse continues the Contract, the excess, if any, of the Death Benefit over the current Contract Value as of the date on which the death claim is approved by LNL LNY for payment will be credited into the Contract. This benefit will only apply one time for each Contract. If the Owner is a corporation or other non-individual (non-natural person) and there are Joint Annuitants, upon the death of the first Joint Annuitant to die, if the Contract is continued, the excess, if any, of the Death Benefit over the current Contract Value as of the date on which the death claim is approved by LNL LNY for payment will be credited into the Contract. This benefit will only apply one time for each Contract.

Guarantee of Principal Death Benefit. The Guarantee of Principal Death Benefit is equal to the greater of: a. the current Contract Value as of the date on which the death claim is approved by LNL LNY for payment; or b. the sum of all Purchase Payments minus decreased proportionally by all withdrawals, partial annuitizations, and premium tax incurred, if any. ; or On or after the Contract Date, but prior to the Annuity Commencement Date, the Owner (or a spouse who continues the Contract as the Owner) may choose to terminate the EGMDB option by giving written notice to LNLLNY at its Servicing Office. The Guarantee of Principal Death Benefit option will then be effective as of the Valuation Date on which the written notification to change the Death Benefit option is received at the Home Office. Termination of the EGMDB option by the Owner or surviving spouse who assumed the Contract will be permanent and final. Upon the death of the Owner, Joint Owner, or Annuitant of this Contract, if a surviving spouse continues the Contract, the excess, if any, of the Death Benefit over the current Contract Value as of the date on which the death claim is approved by LNL LNY for payment will be credited into the Contract. This benefit will only apply one time for each Contract. If the Owner is a corporation or other non-individual (non-natural person) and there are Joint Annuitants, upon the death of the first Joint Annuitant to die, if the Contract is continued, the excess, if any, of the Death Benefit over the current Contract Value as of the date on which the death claim is approved by LNL LNY for payment will be credited into the Contract. This benefit will only apply one time for each Contract.