Common use of One Owner Accounts Clause in Contracts

One Owner Accounts. A one owner account is an account owned by you alone, which you as the account owner use during your lifetime. In the event of your death the funds in the account will go to your legal representative (subject to the terms of this agreement). Alternatively, you can designate a specific person or persons or organization(s) as a beneficiary(s)/pod payee(s) for your one owner account in Part 1 of this contract. In the event of your death, the beneficiary(s)/pod payee(s) will be entitled to the funds in the account (subject to the terms of this agreement) upon proof of your death and the beneficiary’s/pod payee’s identification. If you designate more than one beneficiary/pod payee on the account, each will be entitled to his or her (or its) proportionate share of the funds in the account (which will be determined by dividing the amount of the funds in the account by the number of beneficiaries/pod payees designated on the account), and will own those funds without right of survivorship. If a beneficiary/pod payee predeceases you, it is your responsibility to notify us and change the account accordingly. Beneficiary/pod payee designations made on Part 1 of this contract do not apply to Individual Retirement Accounts (IRAs) or any account life savings insurance, which have separate beneficiary designations.

One Owner Accounts. A one owner account is an account owned by you alone, which you as the account owner use during your lifetime. In the event of Upon your death death, the funds in the account will go to your legal representative (or claimant subject to the terms of this agreement)Contract. Alternatively, you can designate a specific person or persons or organization(s) as a beneficiary(s)/pod beneficiary(s)/Payable on Death payee(s) for (POD payees) on your one owner account in Part 1 of this contractContract. In the event of Upon your death, the beneficiary(s)/pod beneficiary(s)/POD payee(s) will be entitled to the funds in the account (subject to the terms of this agreementContract) upon proof of your death and the beneficiary’s/pod POD payee’s identificationidentifica- tion. If you designate more than one beneficiary/pod POD payee on the account, each will be entitled to his or her (or its) proportionate equal share of the funds in the account (account, which will be determined by dividing the amount of the funds in the account by the number of beneficiariesbenefi- ciaries/pod POD payees designated on the account), and will own those funds without right of survivorship. If a beneficiary/pod POD payee predeceases on the account dies before you, it is your responsibility to notify us and change the account accordingly. BeneficiaryPlease be aware that your beneficiary/pod POD payee designations made on Part 1 of this contract Contract do not apply to Individual Retirement Accounts (IRAs) or any account life savings insurance, which have separate sepa- rate beneficiary designations.

One Owner Accounts. A one owner account is an account owned by you alone, which you as the account owner use during your lifetime. In the event of Upon your death death, the funds in the account will go to your legal representative (or claimant subject to the terms of this agreement)Contract. Alternatively, you can designate a specific person or persons or organization(s) as a beneficiary(s)/pod beneficiary(s)/Payable on Death payee(s) for (POD payees) on your one owner account in Part 1 of this contractContract. In the event of Upon your death, the beneficiary(s)/pod beneficiary(s)/POD payee(s) will be entitled to the funds in the account (subject to the terms of this agreementContract) upon proof of your death and the beneficiary’s/pod POD payee’s identification. If you designate more than one beneficiary/pod POD payee on the account, each will be entitled to his or her (or its) proportionate equal share of the funds in the account (account, which will be determined by dividing the amount of the funds in the account by the number of beneficiaries/pod POD payees designated on the account), and will own those funds without right of survivorship. If a beneficiary/pod POD payee predeceases on the account dies before you, it is your responsibility to notify us and change the account accordingly. BeneficiaryPlease be aware that your beneficiary/pod POD payee designations made on Part 1 of this contract Contract do not apply to Individual Retirement Accounts (IRAs) or any account life savings insurance, which have separate beneficiary designations.