Life Expectancies Clause Samples

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Life Expectancies. Unless an Annuity Option has been elected by the Contract Holder prior to the commencement of distributions in accordance with paragraph (b) above (or, if applicable, by the surviving spouse where the Contract Holder dies before distributions have commenced), or unless a Systematic Distribution Option has been elected by the Contract Holder (see 3.21), life expectancies of the Contract Holder or spouse Beneficiary shall be recalculated annually for purposes of distributions under paragraphs (b) and (c) above. An election not to recalculate shall be irrevocable and shall apply to all subsequent years. The life expectancy of a non-spouse Beneficiary shall not be recalculated. Life expectancy is computed by the tables in the Income Tax Regulations.
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Life Expectancies. Unless an Annuity Option has been elected by the Contract Holder prior to the commencement of distributions in accordance with paragraph 2 above (or, if applicable, by the surviving spouse where the Contract Holder dies before distributions have commenced), life expectancies of the Contract Holder or spouse beneficiary shall be recalculated annually for purposes of distributions under paragraphs 2 and 3 above. An election not to recalculate shall be irrevocable and shall apply to all subsequent years. The life expectancy of a non-spouse beneficiary shall not be recalculated. Life expectancy is computed by use of the expected return multiples in Tables V and VI of section 1.72-9 of the Income Tax Regulations.
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Related to Life Expectancies

  • Life Expectancy Life expectancy as computed by use of the Single Life Table in Section 1.401(a)(9)-9 of the Treasury regulations.

  • Contribution Formula - Basic Life Coverage For employee basic life coverage and accidental death and dismemberment coverage, the Employer contributes one-hundred (100) percent of the cost.

  • Designated Beneficiary The individual who is designated as the Beneficiary under the Plan in accordance with Section 401(a)(9) of the Code and the regulations thereunder.

  • ANNUITANT The Annuitant is the person on whose life Annuity Payments are based. The Annuitant is the person designated by you subject to our underwriting rules then in effect. The Annuitant may not be changed in a Contract which is owned by a non-individual.

  • Survivor Benefit Upon the death of a regular employee who leaves a spouse and/or dependants enrolled in the Medical Services Plan, Dental Plan and Extended Health Benefit Plan, such enrolment may continue for twelve (12) months following the employee’s death, provided the enrolled family members pay the employee’s share of the cost of the premium for the plans. The Employer shall advise the survivor of this benefit.