Multiple Beneficiaries. If there is more than one Beneficiary, proceeds shall be divided equally among the Beneficiaries unless the Beneficiary designation specifies the amount to be paid to each Beneficiary. We may pay all or part of the death benefit to any person who paid any expense in connection with the Insured’s last illness or death. That person must give us a copy of the receipt describing the expense and the amount paid for such expense. Reimbursement will not exceed $250. The death benefit will be reduced by any payment made under this provision.
Multiple Beneficiaries. You may designate two or more Beneficiaries to receive separate percentage interests in the death benefits payable from this Custodial Account. Each such Beneficiary may separately exercise the rights that a Beneficiary has under this Custodial Agreement with respect to the Beneficiary’s interest in the Account.
Multiple Beneficiaries. No contingent Beneficiary shall receive any benefit under the Plan if the Participant is survived by at least one primary Beneficiary. If one, but fewer than all of the primary Beneficiaries designated by the Participant survive the Participant, the percentage interest that otherwise would have been payable to the primary Beneficiary or Beneficiaries who predeceased the Participant shall be divided among the primary Beneficiaries who survive the Participant in the ratio determined by comparing the percentages specified by the Participant for those beneficiaries and adjusting the percentages accordingly. For example, if the Participant indicated percentages of 20% for Beneficiary A, 30% for Beneficiary B and 50% for Beneficiary C. If Beneficiary C predeceased the Participant, Beneficiaries A and B would share Beneficiary C’s 50% interest in a 2:3 ratio. Beneficiary A’s interest would increase to 40% and Beneficiary B’s interest would increase to 60%. The foregoing ratio principle shall be used to determine each such surviving contingent Beneficiary’s interest if one or more of such contingent Beneficiaries predeceases the Participant.
Multiple Beneficiaries. If there are multiple Beneficiaries, each Beneficiary will receive their proportional share of the death benefit amount as of the date We receive an election from each Beneficiary on how their portion of the death benefit is to be paid.
Multiple Beneficiaries. When there is more than one Beneficiary, we will calculate and pay the death benefit for a Beneficiary’s portion of the proceeds when we receive Due Proof of Death in Good Order at our Customer Service Office and settlement instructions from that Beneficiary. The amount payable for those Beneficiaries on whom we do not have settlement instructions will fluctuate with the performance of the Allocation Options until we receive instructions from those Beneficiaries. This means each Beneficiary may receive a different death benefit amount, even where all Beneficiaries have been designated as to share equally in the proceeds.
Multiple Beneficiaries. If you wish to have more than one primary or secondary beneficiary, the requirements are as follows:
Multiple Beneficiaries. If there are two or more Beneficiaries who are simultaneously entitled to receive a benefit upon the death of the Participant or a prior Beneficiary, that benefit shall be segregated into separate accounts representing each Beneficiary’s separate interest in that benefit. Following such segregation of benefits, each Beneficiary’s separate account shall be maintained as though it were a benefit payable solely to that Beneficiary, and no Beneficiary shall have any interest in or claim to any portion of the original benefit other than the separate account representing his or her interest in that benefit.
Multiple Beneficiaries. If there is more than one Beneficiary, we will treat each Beneficiary separately with respect to his/her portion. However, only one Annuity Payment Option may be selected. MANDATORY DISTRIBUTION RULES APPLICABLE ON ANY OWNER'S DEATH AFTER THE ANNUITY COMMENCEMENT DATE If an Owner dies on or after the Annuity Commencement Date, we will continue to distribute remaining benefits to the Beneficiary under the current Annuity Payment Option. The remaining value must be distributed at least as rapidly as under the method of distribution being used as of the Owner's death.
Multiple Beneficiaries. If the Participant has designated more than one Beneficiary, the designated Beneficiary with the shortest Life Expectancy shall be used for purposes of determining the distribution period in Section 6.9. If a Beneficiary’s entitlement to a Participant’s benefit is contingent upon an event other than either the Participant’s death or the death of a prior Beneficiary, such contingent Beneficiary will be deemed a designated Beneficiary for the purpose of determining the Beneficiary with the shortest Life Expectancy. If a new Beneficiary with a shorter Life Expectancy is added or replaces a designated Beneficiary subsequent to establishing the distribution period, such new Beneficiary’s Life Expectancy will be used to redetermine the distribution period. Such redetermination of the distribution period will be made as if the new Beneficiary had been the designated Beneficiary on the Required Beginning Date.
Multiple Beneficiaries. If multiple beneficiaries are affected by a single event or related set of events, then a single reportable breach may be deemed to have occurred, depending on the circumstances. The Business Associate shall inform the DHA Privacy Office as soon as possible if it believes that “single event” breach response is appropriate. The DHA Privacy Office will determine how the Business Associate shall proceed and, if appropriate, consolidate separately reported breaches for purposes of Business Associate report updates, beneficiary notification, and mitigation.
