Joint Life Certificates Sample Clauses

Joint Life Certificates. Payments will be made in equal installments for the life of the Annuitant and Joint Annuitant. Payments cease upon the death of the surviving Annuitant.

Joint Life Certificates. Joint coverage may be elected or unelected at any time prior to the Lock-In date. In all cases, the joint Covered Persons must be Spouses on the date joint coverage is elected. In the case of a Certificate purchased in connection with a Qualified Account, if joint coverage is elected, the difference between the ages of the joint Covered Persons may not be more than 10 years. In order to be eligible for joint coverage, at least one of the Spouses must be the owner or beneficial owner of the Account and the other Spouse must be the sole primary beneficiary of the Account. Unless otherwise stated, the age of the Covered Person means, in the case of a joint life Certificate, the age of the younger Covered Person. For joint life Certificates, except for certain situations where the Covered Persons have divorced as described in Section 8.2, the Insured Event condition that the Covered Person be alive when the Covered Asset Pool is depleted will be met if either Covered Person is alive at that time. We may require satisfactory evidence that the Covered Person or joint Covered Person is alive before any payments can begin. If coverage is for joint Covered Persons, the applicable Coverage Percentages will be [0.5%] lower than for a single Covered Person.

Joint Life Certificates. Joint coverage may be elected or unelected at any time prior to the Lock-In Date. In all cases the joint Covered Persons must be Spouses on the date joint coverage is elected. In the case of a Certificate purchased in connection with a Qualified Account or by a Qualified Account, if joint coverage is elected, the difference between the Attained Ages of the joint Covered Persons may not be more than 10 years. The Attained Age of the Covered Person means, in the case of a joint life Certificate, the Attained Age of the younger Covered Person. For joint life Certificates, one or both joint Covered Person must be alive at the time of the Insured Event. We may require satisfactory evidence that the Covered Person or joint Covered Person is alive before any payments can begin. If coverage is for joint Covered Persons, each of the applicable Coverage Percentages will be [0.5%] lower than for a single Covered Person. If the joint life Certificate is owned by a single individual on the Certificate Date then: (a) Both the Certificate Owner and the Certificate Owner’s Spouse must be between the Attained Ages of [35] and [90]; (b) The Certificate Owner’s Spouse must be the sole primary beneficiary on the Certificate for the death distribution rules of Section 72(s) of the Code; (c) The Certificate Owner’s Spouse must be the sole primary beneficiary or joint owner of the Account; and (d) The Certificate Owner and the Certificate Owner’s Spouse must both be Covered Persons. If the joint life Certificate is owned jointly by two individuals, the joint Certificate Owners on the Certificate Date must be: (a) both between the Attained Ages of [35] and [90]; (b) Spouses (at least one of the Spouses must be the owner or beneficial owner or the Account and the other Spouse must be the sole primary beneficiary or joint owner of the Account; (c) Covered Persons; and (d) the designated beneficiary of the other Certificate Owner for the death distribution rules of Section 72(s) of the Code. If the Covered Asset Pool is owned by a Family Limited Partnership in order for a joint life Certificate to be issued, such Certificate Owners must be: (a) both sole general partners of the Family Limited Partnership; (b) both between the Attained Ages of [35] and [90]; (c) Spouses; and