Common use of INTEREST ON DEATH PROCEEDS Clause in Contracts

INTEREST ON DEATH PROCEEDS. This Contract will remain in force until Due Proof of Death is received by Us. Interest shall accrue and will be paid from the date of Our receipt of Due Proof of Death to the date the Death Benefit is paid at the rate or rates applicable for funds left on deposit with Us. If the Death Benefit is not paid by Us within 31 calendar days from the latest of a., b. and c. below, We will pay additional interest at a rate of 10% annually beginning on the 31st calendar day from the latest of a., b. and c. to the date the death claim is paid, where:

Appears in 5 contracts

Samples: Individual Flexible Purchase Payment Deferred Variable Annuity Contract (Lincoln Life Variable Annuity Account N), Individual Flexible Purchase Payment Deferred Variable Annuity Contract (Lincoln Life Variable Annuity Account N), Individual Flexible Purchase Payment Deferred Variable Annuity Contract (Lincoln Life Variable Annuity Account N)

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