receive the Death Benefit. If any Owner dies on or after the Annuity Start Date, Annuity Payments shall continue to be paid at least as rapidly as under the method of payment being used as of the date of the Owner's death. If the Owner is a Nonnatural Person, the distribution rules set forth above apply in the event of the death of, or change in, the Annuitant. This Contract is deemed to include any provision of Section 72(s) of the Internal Revenue Code of 1986, as amended (the "Code"), or any successor provision. This Contract is also deemed to include any other provision of the Code deemed necessary by SBL in its sole judgment, to qualify this Contract as an annuity. The application of the distribution rules will be made in accordance with Code section 72(s), or any successor provision, as interpreted by SBL in its sole judgment. The foregoing distribution rules do not apply to a Contract, which is:
(1) provided under a plan described in Code section 401(a) or 403(b);
(2) an individual retirement annuity or provided under an individual retirement account or annuity; or
receive the Death Benefit. If any Owner dies on or after the Annuity Start Date, Annuity Payments shall continue to be paid at least as quickly as under the method of payment being used as of the date of the Owner's death. If the Owner is a Nonnatural Person, the distribution rules set forth above apply in the event of the death of, or change in, the Annuitant. This Contract is deemed to include any provision of Section 72(s) of the Internal Revenue Code of 1986, as amended (the "Code"), or any successor provision. This Contract is also deemed to include any other provision of the Code deemed necessary by SBL in its sole judgment, to qualify this Contract as an annuity. The application of the distribution rules will be made in accordance with Code section 72(s), or any successor provision, as interpreted by SBL in its sole judgment. The foregoing distribution rules do not apply to a Contract, which is: (1) provided under a plan described in Code section 401(a) or 403(b); (2) an individual retirement annuity or provided under an individual retirement account or annuity; or (3) otherwise exempt from the Code section 72(s) distribution rules. -------------------------------------------------------------------------------- ANNUITY BENEFIT PROVISIONS -------------------------------------------------------------------------------- ANNUITY START DATE
receive the Death Benefit. If any Owner dies on or after the Annuity Start Date, Annuity Payments shall continue to be paid at least as rapidly as under the method of payment being used as of the date of the Owner’s death. If the Owner is a Nonnatural Person, the distribution rules set forth above apply in the event of the death of, or change in, the Annuitant. The foregoing distribution rules do not apply to a Contract, which is:
1. provided under a plan described in Code section 401(a) or 403(b);
2. an individual retirement annuity or provided under an individual retirement account or annuity; or
receive the Death Benefit. If any Owner dies on or after the Annuity Start Date, Annuity Payments shall continue to be paid at least as rapidly as under the method of payment being used as of the date of the Owner's death. If the Owner is a Nonnatural Person, the distribution rules set forth above apply in the event of the death of, or change in, the Annuitant. This Contract is deemed to include any provision of Section 72(s) of the Internal Revenue Code of 1986, as amended (the "Code"), or any successor provision. This Contract is also deemed to include any other provision of the Code deemed necessary by SBL in its sole judgment, to qualify this Contract as an annuity. The application of the distribution rules will be made in accordance with Code section 72(s), or any successor provision, as interpreted by SBL in its sole judgment. The foregoing distribution rules do not apply to a Contract, which is:
receive the Death Benefit. If any Owner dies on or after the Annuity Start Date, Annuity Payments shall continue to be paid at least as rapidly as under the method of payment being used as of the date of the Owner's death. If the Owner is a Nonnatural Person, the distribution rules set forth above apply in the event of the death of, or change in, the Annuitant. This Contract is deemed to include any provision of Section 72(s) of the Internal Revenue Code of 1986, as amended (the "Code"), or any successor provision. This Contract is also deemed to include any other provision of the Code deemed necessary by FSBL in its sole judgment, to qualify this Contract as an annuity. The application of the distribution rules will be made in accordance with Code section 72(s), or any successor provision, as interpreted by FSBL in its sole judgment. The foregoing distribution rules do not apply to a Contract, which is:
receive the Death Benefit. If any Owner dies after the Annuity Start Date, Annuity Payments shall continue to be paid at least as rapidly as under the method of payment being used as of the date of the Owner's death. If the Owner is a Nonnatural Person, the distribution rules set forth above apply in the event of the death of, or a change in, the Annuitant. This Contract is deemed to incorporate any provision of Section 72(s) of the Internal Revenue Code of 1986, as amended (the "Code"), or any successor provision. This Contract is also deemed to incorporate any other provision of the Code deemed necessary by the Company, in its sole judgment, to qualify this Contract as an annuity. The application of the distribution rules will be made in accordance with Code section 72(s), or any successor provision, as interpreted by the Company in its sole judgment. -13- BP 602621 -------------------------------------------------------------------------------- DEATH BENEFIT PROVISIONS (Continued) -------------------------------------------------------------------------------- DISTRIBUTION RULES (Continued) The foregoing distribution rules do not apply to a Contract which is: (1) provided under a plan described in Code Section 401(a); (2) described in Code section 403(b); (3) an individual retirement annuity or provided under an individual retirement account or annuity; or (4) otherwise exempt from the Code section 72(s) distribution rules. -------------------------------------------------------------------------------- ANNUITY PAYMENT PROVISIONS -------------------------------------------------------------------------------- ANNUITY START DATE The Owner may choose the Annuity Start Date at the time of application. If no Annuity Start Date is chosen, the Company will use the oldest Annuitant's ninety-fifth birthday. The Annuity Start Date may not be deferred beyond the oldest Annuitant's ninety-fifth birthday. The Annuity Start Date is the date the first payment will be made to the Annuitant under any of the Annuity Options. CHANGE OF ANNUITY START DATE The Owner may change the Annuity Start Date. A request for the change must be made in writing. The written request must be Received by the Company at least 30 days prior to the new Annuity Start Date as well as 30 days prior to the previous Annuity Start Date. ANNUITY START AMOUNT The Annuity Start Amount is applied to one or more of the Annuity Options listed on page 16. The Annuity Start Amount is: (1) the Contract Value on the Annuity Start Dat...
receive the Death Benefit. If any Owner dies after the Annuity Start Date, any Annuity Payments shall continue to be paid at least as rapidly as under the method of payment being used as of the date of the Owner's death. If the Owner is a Nonnatural Person, the distribution rules set forth above apply in the event of the death of, or a change in, the Annuitant. This Contract is deemed to incorporate any provision of Section 72(s) of the Internal Revenue Code of 1986, as amended (the "Code"), or any successor provision. This Contract is also deemed to incorporate any other provision of the code deemed necessary by the Company, in its sole judgment, to qualify this Contract as an annuity. The application of the distribution rules will be made in accordance with Code section 72(s), or any successor provision, as interpreted by the Company in its sole judgment. The foregoing distribution rules do not apply to a Contract which is: (1) provided under a plan described in Code section 401(a); (2) described in Code section 403(b); (3) an individual retirement annuity or provided under an individual retirement account or annuity; or (4) otherwise exempt from the Code section 72(s) distribution rules. ANNUITY PAYMENT PROVISIONS ANNUITY START DATE
receive the Death Benefit. If any Owner dies on or after the Annuity Payout Date, Annuity Payments shall continue to be paid at least as rapidly as under the method of payment being used as of the date of the Owner's death. If the Owner is a Nonnatural Person, the distribution rules set forth above apply in the event of the death of, or a change in, the Annuitant. This Contract is deemed to incorporate any provision of Section 72(s) of the Internal Revenue Code of 1986, as amended (the "Code"), or any successor provision. This Contract is also deemed to incorporate any other provision of the Code deemed necessary by the Company, in its sole judgment, to qualify this Contract as an annuity. The application of the distribution rules will be made in accordance with Code section 72(s), or any successor provision, as interpreted by the Company in its sole judgment. The foregoing distribution rules do not apply to a Contract which is:
receive the Death Benefit. If any Owner dies on or after the Annuity Start Date, Annuity Payments shall continue to be paid at least as rapidly as under the method of payment being used as of the date of the Owner’s death. If the Owner is a Non-Natural Person, the distribution rules set forth above apply in the event of the death of, or change in, the Annuitant. This Contract is deemed to include any provision of section 72(s) of the Code, or any successor provision. This Contract is also deemed to include any other provision of the Code deemed necessary by SBL in its sole judgment, to qualify this Contract as an annuity. The application of the distribution rules will be made in accordance with Code section 72(s), or any successor provision, as interpreted by SBL in its sole judgment. The foregoing distribution rules do not apply to a Contract, which is:
1. Provided under a plan described in Code section 401(a) or 403(b);
2. An individual retirement annuity or provided under an individual retirement account or annuity; or
receive the Death Benefit. If a Participant dies after the Annuity Start Date, Annuity Payments shall continue to be paid at least as rapidly as under the method of payment being used as of the date of the Participant's death. This Contract is deemed to incorporate any provision of Section 72(s) of the Internal Revenue Code of 1986, as amended (the "Code"), or any successor provision. This Contract is also deemed to incorporate any other provision of the Code deemed necessary by the Company, in its sole judgment, to qualify this Contract as an annuity. The application of the distribution rules will be made in accordance with Code Section 72(s), or any successor provision, as interpreted by the Company in its sole judgment. -------------------------------------------------------------------------------- ANNUITY BENEFIT PROVISIONS -------------------------------------------------------------------------------- PURCHASE OF ANNUITY BENEFIT PROVISIONS -- The Company agrees to make available an annuity to any Participant under the Plan or Trust; provided that the Annuitant is no older than age 90 as of the Participant's Contract Date. The Owner will provide the Company the following information: (1) the Annuity Option and Annuity Start Date selected by the Participant; (2) the Annuitant named by the Participant; (3) due proof of age of the Annuitant; (4) the amount of Annuity Consideration; and (5) any other information deemed necessary by the Company to make such Annuity Payments. The Annuity Contract will offer the fixed annuity options and rates set forth below.
