Common use of THE OWNER AND ANNUITANT Clause in Contracts

THE OWNER AND ANNUITANT. (a) In the case of an individual contract, the Owner of the Contract must be an individual who is the sole Owner and the Annuitant. (b) In the case of a group certificate issued under the group master contract, the Owner of the group certificate must be an individual who is the sole Owner and the Annuitant. (c) Except as permitted under sections 6 and 7 of this Rider, and otherwise permitted under the Code and federal income tax regulations, neither the Owner nor the Annuitant may be changed. All distributions while the Owner is alive must be made to the Owner. All distributions made under a joint and survivor annuity option after the Owner's death, and while the joint Annuitant is alive, must be made to the joint Annuitant.

THE OWNER AND ANNUITANT. (a) In the case of an individual contract, the Owner of the Contract must be an individual who is the sole Owner and the Annuitant. (b) In the case of a group certificate issued under the group master contract, the Owner of the group certificate must be an individual who is the sole Owner and the Annuitant. (c) Except as permitted under sections 6 7, 8, and 7 9 of this Rider, and otherwise permitted under the Code and federal income tax regulations, neither the Owner nor the Annuitant may be changed. All distributions while the Owner is alive must be made to the Owner. All distributions made under a joint and survivor annuity option after the Owner's death, and while the joint Annuitant is alive, must be made to the joint Annuitant.