Examples of Death Benefit Date in a sentence
In such case, the Guaranteed Lifetime Withdrawal Benefit will continue, the Second Life will become the Annuitant for purposes of determining the Death Benefit Date and the Contract Maturity Date and the Death Benefit will not become payable for any Class of Units until the death of the Second Life.
AMOUNT OF DEATH BENEFIT The Death Benefit is determined as of the Death Benefit Date.
If the Death Benefit is to be paid in cash, the Company will make the payment within seven days of the Death Benefit Date, except as the Company may be permitted to defer any such payment in accordance with the Investment Company Act of 1940.
PAYMENT OF DEATH BENEFIT If the Death Benefit is to be paid in cash, payment will be made within seven days of the Death Benefit Date, except as the Company may be permitted to defer any such payment in accordance with the Investment Company Act of 1940.
Payment of Death BenefitIf the Death Benefit is to be paid in cash, payment will be made within seven days of the Death Benefit Date, except as the Company may be permitted to defer any such payment of amounts derived from the Variable Account in accordance with the Investment Company Act of 1940.
The Death Benefit Date will not occur until the death of the surviving Annuitant.
If the Maturity Date occurs on the Death Benefit Date (or if the Death Benefit Date and Contract Maturity Date occur on the same day), the Maturity Benefit will be calculated as the Death Benefit.
Amount of Death BenefitThe Death Benefit is determined as of the Death Benefit Date.
For purposes of calculating the benefit upon the surviving spouse's death, the Participant's Account Value on the original Covered Person's Death Benefit Date (inclusive of any Death Benefit amount increases) will be considered the initial Net Purchase Payment.
If the Second Life is not the sole beneficiary of the Class Death Benefit relating to Income Class Units on the Death Benefit Date, then the Contract, including the Guaranteed Lifetime Withdrawal Benefit, will end on the Death Benefit Date and the Death Benefit relating to all Classes will be paid, notwithstanding that the Two-Life Income Stream had been selected.