NAMING AND CHANGING OF BENEFICIARIES UNDER PAYMENT PLANS. For Payment Plans Elected By Owner. If the Owner of the contract elected a payment plan, a direct beneficiary may name and change the contingent beneficiaries and further payees of the direct beneficiary's share of the benefits only if: . the direct beneficiary was the Owner of the contract; or . no contingent beneficiary or further payee of that share is living.
Appears in 7 contracts
Samples: NML Variable Annuity Account B, NML Variable Annuity Account B, NML Variable Annuity Acct C of Northwestern Mut Life Ins Co
NAMING AND CHANGING OF BENEFICIARIES UNDER PAYMENT PLANS. For Payment Plans Elected By Owner. If the Owner of the contract Contract elected a payment plan, a direct beneficiary may name and change the contingent beneficiaries and further payees of the direct beneficiary's ’s share of the benefits only if: . • the direct beneficiary was the Owner of the contractContract; or . • no contingent beneficiary or further payee of that share is living.
Appears in 2 contracts
Samples: NML Variable Annuity Acct C of Northwestern Mut Life Ins Co, NML Variable Annuity Acct C of Northwestern Mut Life Ins Co
NAMING AND CHANGING OF BENEFICIARIES UNDER PAYMENT PLANS. For Payment Plans Elected By OwnerFOR PAYMENT PLANS ELECTED BY OWNER. If the Owner of the contract elected a payment plan, a direct beneficiary may name and change the contingent beneficiaries and further payees of the direct beneficiary's share of the benefits only if: . - the direct beneficiary was the Owner of the contract; or . - no contingent beneficiary or further payee of that share is living.
Appears in 1 contract
Samples: NML Variable Annuity Account B
