Common use of Owner Death Clause in Contracts

Owner Death. If the deceased Owner is also the Annuitant, Subsection C.I. “Annuitant Death” above applies. If an Owner or joint Owner who is not an Annuitant dies prior to the Annuity Commencement Date and before the entire interest in the policy is distributed, the successor Owner as defined below will become the new Owner, and no death proceeds are payable. The person or entity first listed below who is alive or in existence on the date of that death will become the successor Owner: a) surviving Owner; b) primary beneficiary; c) contingent beneficiary; or d) deceased Owner’s estate. The successor Owner will need to take distributions according to a), b), or c) below: a) If the sole successor Owner is the deceased Owner’s opposite-sex spouse, We will continue this policy with the successor Owner as the new Owner. If no distribution option is elected by the deceased Owner’s same-sex spouse, the Policy Value will be distributed according to b) below. b) If the successor Owner is an individual who is not the deceased Owner’s spouse, the Policy Value must be distributed:

Owner Death. If the deceased Owner is also the Annuitant, Annuitant Subsection C.I. “Annuitant Death” above applies. If an Owner or joint Owner who is not an Annuitant dies prior to the Annuity Commencement Date and before the entire interest in the policy is distributed, the successor Owner as defined below will become the new Owner, and no death proceeds are payable. The person or entity first listed below who is alive or in existence on the date of that death will become the successor Owner: a) surviving Owner; b) primary beneficiary; c) contingent beneficiary; or d) deceased Owner’s estate. The successor Owner will need to take distributions according to a), b), or c) below: a) If the sole successor Owner is the deceased Owner’s opposite-sex spouse, . We will continue this policy with the successor Owner as the new Owner. If no distribution option is elected by the deceased Owner’s same-sex spouse, the Policy Value will be distributed according to b) below. b) If the successor Owner is an individual who is not the deceased Owner’s spouse, the Policy Value must be distributed:: AV1396 101 179 1003 Page 11 DB568R

Owner Death. If the deceased Owner is also the Annuitant, Subsection C.I. Cl. “Annuitant Death” above applies. If an Owner or joint Owner who is not an Annuitant dies prior to the Annuity Commencement Date and before the entire interest in the policy is distributed, the successor Owner as defined below will become the new Owner, and no death proceeds are payable. The person or entity first listed below who is alive or in existence on the date of that death will become the successor Owner: a) surviving Owner; b) primary beneficiary; c) contingent beneficiary; or d) deceased Owner’s estate. The successor Owner will need to take distributions according to a), b), or c) below: a) If the sole successor Owner is the deceased Owner’s opposite-–sex spouse, We will continue this policy with the successor Owner as the new Owner. , If no distribution option is elected by the deceased Owner’s same-–sex spouse, the Policy Value will be distributed according to b) below. b) If the successor Owner is an individual who is not the deceased Owner’s spouse, the Policy Value must be distributed: