Common use of PAYMENT OF DEATH BENEFIT Clause in Contracts

PAYMENT OF DEATH BENEFIT. Upon Due Proof of Death of an Owner and while this Contract is in force, the death benefit will become payable in accordance with these provisions and subject to Section 72(s) of the Code following the Company’s receipt of a Request. If payment of the death benefit is deferred due to an action to recover the proceeds as defined in New York Insurance law section 3214, interest on the death benefit proceeds will be paid from the date of death of the Annuitant at the rate currently paid by the Company on proceeds left on deposit. When an Owner dies before the Annuity Commencement Date and a death benefit is payable to a Beneficiary, the death benefit proceeds will remain invested in accordance with the allocation instructions given by the Owner until new allocation instructions are Requested by the Beneficiary or until the death benefit is actually paid to the Beneficiary. The death benefit will be determined as of the date payments commence. However, on the date a payout option is processed, amounts in the Sub-Account will be Transferred to the money market Sub-Account unless the Beneficiary elects otherwise by Request. Distribution of the death benefit may be Requested to be made as follows (subject to the distribution rules set forth below):

PAYMENT OF DEATH BENEFIT. Upon Due Proof of Death of an Owner and while this Contract is in force, the death benefit will become payable in accordance with these provisions and subject to Section 72(s) of the Code following the Company’s receipt of a Request. If payment of the death benefit is deferred due to an action to recover the proceeds as defined in New York Insurance law section 3214, interest on the death benefit proceeds will be paid from the date of death of the Annuitant at the rate currently paid by the Company on proceeds left on deposit. When an Owner dies before the Annuity Commencement Date and a death benefit is payable to a Beneficiary, the death benefit proceeds will remain invested in accordance with the allocation instructions given by the Owner until new allocation instructions are Requested requested by the Beneficiary or until the death benefit is actually paid to the Beneficiary. The death benefit will be determined as of the date payments commence. However, on the date a payout option is processed, amounts in the Sub-Account will be Transferred transferred to the money market Sub-Account unless the Beneficiary elects otherwise by Request. Distribution of the death benefit may be Requested requested to be made as follows (subject to the distribution rules set forth below):

PAYMENT OF DEATH BENEFIT. Upon Due Proof of Death of an Owner and while this Contract is in force, the death benefit will become payable in accordance with these provisions and subject to Section 72(s) of the Code following the Company’s receipt of a Request. If payment of the death benefit is deferred due to an action to recover the proceeds as defined in New York Insurance law section 3214, interest on the death benefit proceeds will be paid from the date of death of the Annuitant at the rate currently paid by the Company on proceeds left on depositdeposit under the interest settlement option. When an Owner dies before the Annuity Commencement Date and a death benefit is payable to a Beneficiary, the death benefit proceeds will remain invested in accordance with the allocation instructions given by the Owner until new allocation instructions are Requested by the Beneficiary or until the death benefit is actually paid to the Beneficiary. The death benefit will be determined as of the date payments commence. However, on the date a payout option is processed, amounts in the Sub-Account will be Transferred to the money market Money Market Sub-Account unless the Beneficiary otherwise elects otherwise by Request. Distribution of the death benefit may be Requested to be made as follows (subject to the distribution rules set forth below):

PAYMENT OF DEATH BENEFIT. Upon Due Proof of Death of an Owner and while this Contract is in force, the death benefit will become payable in accordance with these provisions and subject to Section 72(s) of the Code following the CompanyFirst Great-West’s receipt of a Request. If payment of the death benefit is deferred due to an action to recover the proceeds as defined in New York Insurance law section 3214, interest on the death benefit proceeds will be paid from the date of death of the Annuitant at the rate currently paid by the Company First Great-West on proceeds left on depositdeposit under the interest settlement option. When an Owner dies before the Annuity Commencement Date and a death benefit is payable to a Beneficiary, the death benefit proceeds will remain invested in accordance with the allocation instructions given by the Owner until new allocation instructions are Requested by the Beneficiary or until the death benefit is actually paid to the Beneficiary. The death benefit will be determined as of the date payments commence. However, on the date a payout option is processed, amounts in the Sub-Account will be Transferred to the money market Money Market Sub-Account unless the Beneficiary otherwise elects otherwise by Request. Distribution of the death benefit may be Requested to be made as follows (subject to the distribution rules set forth below):

PAYMENT OF DEATH BENEFIT. Upon Due Proof of Death of an Owner and while this Contract is in force, the death benefit will become payable in accordance with these provisions and subject to Section 72(s) of the Code following the Company’s receipt of a Request. If payment of the death benefit is deferred due to an action to recover the proceeds as defined in New York Insurance law section 3214, interest on the death benefit proceeds will be paid from the date of death of the Annuitant Owner at the rate currently paid by the Company on proceeds left on depositdeposit under the interest settlement option. When an Owner dies before the Annuity Commencement Date and a death benefit is payable to a Beneficiary, the death benefit proceeds will remain invested in accordance with the allocation instructions given by the Owner until new allocation instructions are Requested by the Beneficiary or until the death benefit is actually paid to the Beneficiary. The death benefit will be determined as of the date payments commence. However, on the date a payout option is processed, amounts in the Sub-Account will be Transferred to the money market Money Market Sub-Account unless the Beneficiary otherwise elects otherwise by Request. Distribution of the death benefit may be Requested to be made as follows (subject to the distribution rules set forth below):

PAYMENT OF DEATH BENEFIT. Upon Due Proof of Death of an Owner and while this Contract is in force, the death benefit will become payable in accordance with these provisions and subject to Section 72(s) of the Code following the CompanyFirst Great-West’s receipt of a Request. If payment of the death benefit is deferred due to an action to recover the proceeds as defined in New York Insurance law section 3214, interest on of the death benefit proceeds will be paid from the date of death of the Annuitant at the rate currently paid by the Company First Great-West on proceeds left on depositdeposit under the interest settlement option. When an Owner dies before the Annuity Commencement Date and a death benefit is payable to a Beneficiary, the death benefit proceeds will remain invested in accordance with the allocation instructions given by the Owner until new allocation instructions are Requested by the Beneficiary or until the death benefit is actually paid to the Beneficiary. The death benefit will be determined as of the date payments commence. However, on the date a payout option is processed, amounts in the Sub-Account will be Transferred to the money market Money Market Sub-Account unless the Beneficiary otherwise elects otherwise by Request. Distribution of the death benefit may be Requested to be made as follows (subject to the distribution rules set forth below):

PAYMENT OF DEATH BENEFIT. Upon Due Proof of Death the death of an Owner or the Annuitant and while this Contract is in force, the death benefit will become payable in accordance with these provisions and subject to Section 72(s) of the Code following the CompanyFGWL&A’s receipt of a Request. If payment of the death benefit is deferred due to an action to recover the proceeds as defined in New York Insurance law section 3214, interest on the death benefit proceeds will be paid from the date of death of the Annuitant at the rate currently paid by the Company FGWL&A on proceeds left on depositdeposit under the interest settlement option. When an Owner or the Annuitant dies before the Annuity Commencement Date and a death benefit is payable to a Beneficiary, the death benefit proceeds will remain invested in accordance with the allocation instructions given by the Owner until new allocation instructions are Requested by the Beneficiary or until the death benefit is actually paid to the Beneficiary. The death benefit will be determined as of the date payments commence. However, on the date a payout option is processed, amounts in the Sub-Account will be Transferred to the money market Sub-Account Money Market Investment Division unless the Beneficiary otherwise elects otherwise by Request. Distribution of the death benefit may be Requested to be made as follows (subject to the distribution rules set forth below):