Annuity beneficiary definition

Annuity beneficiary means the person or persons designated by a member pursuant to Section 25011, 25011.1, 25018, or 25018.1 to receive an annuity under the Defined Benefit Supplement Pro- gram upon the member’s death.
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Annuity beneficiary is defined in Section 1B(1). 5A(1)(c)(ii)
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Annuity beneficiary means, with respect to any Assignable Annuity Contract, collectively, the Person or Persons (i) receiving or entitled to receive Scheduled Payments thereunder (which may include any Annuity Owner and/or Annuitant), (ii) if any, identified as the “beneficiary” or “contingent beneficiary” or “payee”, or similar, thereunder and/or (iii) otherwise entitled to acquire pursuant to the terms of such Assignable Annuity Contract any immediate or contingent right to receive Scheduled Payments thereunder upon the death of the related Annuitant or Annuity Owner, in each case prior to giving effect to an assignment of such Assignable Annuity Contract to the Company.
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Examples of Annuity beneficiary in a sentence

  • Standard Living Annuity beneficiary rules apply to the remainder of the Living Annuity.Please refer to your Just Lifetime Income portfolio documents for full Lifetime Income portfolio terms and conditions.

  • NEIGHBORHOOD SERVICES/RESOLUTION/ROCKY BLUFF LIBRARY• Adopted Resolution R-18-183, authorizing the acceptance of beneficiary funds (exceeding $50,000) from the Annuity of Therese Zeh, for use by Manatee County Rocky Bluff Library; and• Authorized execution of documents related to the Annuity beneficiary fundsBC20181127DOC06334.


More Definitions of Annuity beneficiary

Annuity beneficiary. ’ means the person or
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Annuity beneficiary. The Annuity Beneficiary can be designated “revocable” or “irrevocable”. In Quebec, unless the Purchaser and/or Certificate Owner stipulates otherwise, a spouse designation is irrevocable. The designation of an “irrevocable” Beneficiary cannot be modified at a later date without that irrevocable Beneficiary’s authorization. ANNUITY ASSIGNEE: The Crematorium to which insurance proceeds are assigned for cremation goods and services. PAYMENT BY CREDIT CARD: The Purchaser and/or Certificate Owner hereby authorizes Assurant Life of Canada to charge the Purchaser’s and/or Certificate Owner’s credit card for the amount indicated on the reverse side of this form and for any renewal premium coming due for the annuity coverage. If your payment/credit card is cancelled or if you cancel this authorization, in case an alternate mode of payment will have to be selected, such as cheque, money order or pre-authorized bank draft. Cancellations must be received at the Insurer Administrative Office in writing at least ten (10) days prior to the premium payment due date. PRE-AUTHORIZED CHEQUING (PAC): If the Purchaser and/or Certificate Owner elected PAC billing, the Purchaser and/or Certificate Owner hereby requests and authorizes your bank or financial institution to make electronic debits drawn on the Purchaser’s and/or Certificate Owner’s account, payable to Assurant Life of Canada on the date specified, provided there are sufficient funds in your account to pay the same upon presentation. The Purchaser and/or Certificate Owner agrees that (a) Assurant’s rights, in respect to each electronic debit, shall be the same if it were a cheque drawn on your account and personally signed by the Purchaser and/or Certificate Owner. This authority will remain in effect until removed by the Purchaser and/or Certificate Owner in writing and until the financial institution actually receives such notice. You further agree that (b) the financial institution shall be fully protected in honouring any such debit; (c) if any such electronic debit were dishonoured, whether intentionally or not, the financial institution shall be under no liability whatsoever even though such results in forfeiture of coverage; (d) to notify Assurant Life of Canada if the Purchaser’s and/or Certificate Owner’s financial institution, bank or account number changes; (e) person(s) who has (have) legal interest on the account has(have) agreed as shown by their signature on front of this form, and (f) if the Purchaser...
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Related to Annuity beneficiary

  • Annuity Benefit means a benefit payable by us as described in Part VII.

  • primary beneficiary means the individual for whose primary benefit the trust is then held. For purposes of Section 8.3, a Qualified Entity is a member of each Family Group to which such one or more Qualified Trusts that are its equity holders belong.

  • Income beneficiary means a person to whom net income of a trust is or may be payable.

  • Contingent Beneficiary is the person that becomes the Beneficiary if the named Beneficiary dies prior to the Income Date.

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Annuity means a stated sum payable periodically at stated times during life or during a specified or ascertainable period of time under an obligation to make the payments in return for adequate and full consideration in money or money's worth.

  • Former Spouse means the individual who is considered by Applicable Laws to be the Annuitant’s former spouse or common-law partner;

  • Refund beneficiary means an individual nominated by a qualified participant or a former qualified participant under section 66 to receive a distribution of the participant's accumulated balance in the manner prescribed in section 67.

  • Joint Annuitant means the individual specified as such in the Data Pages. The Joint Annuitant must be the spouse of the Annuitant on the Contract Date.

  • Beneficiary means each designated person, or the estate of the deceased Executive, entitled to benefits, if any, upon the death of the Executive, determined according to Article 4.

  • Beneficiary(ies means the individual or individuals designated in the Application by the Subscriber(s) to whom, or on whose behalf, Educational Assistance Payments are agreed to be paid, provided such individual qualifies under the Applicable Legislation and the Plan at the time such payments are made;

  • Qualified beneficiary means a beneficiary who, on the date the beneficiary's qualification is determined:

  • Disability Benefit means the benefit set forth in Article 8.

  • Designated Beneficiary means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or becomes incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s estate.

  • Third Party Beneficiary means each of the non-NHS bodies set out in the list attached at Schedule 1, as supplied from time to time by the Authority to the Contractor;

  • Annuity Unit An accounting unit of measure used to calculate the amount of Annuity Payments.

  • Annuitant means a person who receives a retirement allowance or a disability allowance;

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • retirement annuity contract means a contract or scheme approved under Chapter III of Part XIV of the Income and Corporation Taxes Act 1988;

  • Alternate Payee means any spouse, former spouse, child, or other dependent of a Participant who is recognized by a qualified domestic relations order as having a right to receive all, or a portion of, the benefits payable under a Plan with respect to such Participant.

  • Social Security Benefit means an amount received by a claimant as a monthly benefit in accordance with the Social Security Act, 42 U.S.C. Sec. 401 et seq.

  • Beneficiary Designation Form means the form established from time to time by the Plan Administrator that the Executive completes, signs and returns to the Plan Administrator to designate one or more Beneficiaries.

  • Accrued Benefit have the meanings specified in ERISA.

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.