DEATH OF ANNUITANT. Upon the death of an Annuitant, who is not the Contract Owner, during the Accumulation Period, you may designate a new Annuitant, subject to our underwriting rules then in effect. If no designation is made within 30 days of the death of the Annuitant, you will become the Annuitant. If the Contract Owner is a non-individual, the death of the Annuitant will be treated as the death of the Contract Owner and a new Annuitant may not be designated. Upon the death of the Annuitant during the Annuity Period, the death benefit, if any, will be as specified in the Annuity Option elected. Death benefits will be paid at least as rapidly as under the method of distribution in effect at the Annuitant's death.
DEATH OF ANNUITANT. On the death of the last surviving Annuitant, the Owner becomes the new Annuitant, if the Owner is an individual. If any Owner is not an individual the death of any Annuitant is treated as the death of an Owner and the Death Benefit will be determined by substituting the Annuitant for the Owner as described below.
DEATH OF ANNUITANT. Upon the death of an Annuitant (or death of both Joint Annuitants), who is not the Contract Owner, during the Accumulation Phase, you will become the Annuitant, unless you designate another Annuitant within 30 days of the death of the Annuitant. If the Contract Owner is a non-individual, the death of an Annuitant will be treated as the death of the Contract Owner and a new Annuitant may not be designated. Upon the death of the Annuitant during the Annuity Phase, the death benefit, if any, will be as specified in the Annuity Option elected. Death benefits will be paid at least as rapidly as under the method of distribution in effect at the Annuitant's death.
Examples of DEATH OF ANNUITANT in a sentence
DEATH OF ANNUITANT If there is no Contingent Annuitant, the Contract Owner and the Annuitant are not the same person, and the Annuitant dies before the Annuitization Date, then rights to the Death Benefit are determined in the following order: (1) the Beneficiary(ies), if they survive the Annuitant; (2) the Contingent Beneficiary(ies), if they survive the Annuitant; (3) the last surviving Contract Owner's estate.
APPLIES TO DEATH OF ANNUITANT: [ ] Maximum Anniversary Death Benefit [ ] 3% Annual Guarantee Death Benefit [ ] Earnings Enhanced Death Benefit Available only if Maximum Anniversary and/or 3% Annual Guarantee are selected.
DEATH OF ANNUITANT -- Upon death of the Annuitant prior to the Annuity Date, the Owner must designate a new Annuitant.
DEATH OF ANNUITANT This rider will terminate upon the death of the Annuitant unless you continue the Contract under section 1(a) of the Death of Annuitant provision in your Contract.
DEATH OF ANNUITANT If the natural Owner and Annuitant are different, and the Annuitant dies before the Annuity Date, the Owner becomes the Annuitant until the Owner elects a new Annuitant.
More Definitions of DEATH OF ANNUITANT
DEATH OF ANNUITANT. If the Annuitant who is also the Owner dies prior to the Payout Start Date, the Death of Owner provision applies. If the Annuitant who is not also the Owner dies prior to the Payout Start Date, the Options available to the Owner will be determined by the applicable following Category in which the Owner is defined.
DEATH OF ANNUITANT. Upon the death of an Annuitant, who is not the Contract Owner, during the Accumulation Period, you will become the Annuitant, unless you designate another Annuitant. If the Contract Owner is a non-individual, the death of the Annuitant will be treated as the death of the Contract Owner and a new Annuitant may not be designated. Upon the death of the Annuitant during the Annuity Period, the death benefit, if any, will be as specified in the Annuity Option elected. Death benefits will be paid at least as rapidly as under the method of distribution in effect at the Annuitant's death.
DEATH OF ANNUITANT. On the death of the last surviving Annuitant, the Owner becomes the new Annuitant, if the Owner is an individual. If any Owner is not an individual the death of any Annuitant is treated as the death of an Owner and the Death Benefit will be determined by substituting the Annuitant for the Owner as described below. DEATH OF OWNER: We will pay the Death Benefit to the Beneficiary if any Owner dies prior to the Maturity Date. The Death Benefit may be taken in one sum immediately, in which case the Contract will terminate. If the Death Benefit is not taken in one sum immediately, the Contract will continue subject to the following provisions:
DEATH OF ANNUITANT. Upon the death of the Annuitant prior to the Annuity Date, the Owner must designate a new Annuitant. If no designation is made within 30 days of the death of the Annuitant, the Owner will become the Annuitant. If the Owner is a non-natural person, the death of the Annuitant will be treated as the death of the Owner and a new Annuitant may not be designated. Upon the death of the Annuitant after the Annuity Date, the Death Benefit, if any, will be as specified in the Annuity Option elected.
DEATH OF ANNUITANT. Upon the death of an Annuitant, who is not the Certificate Holder, during the Accumulation Period, the Certificate Holder may designate a new Annuitant, subject to the Company's underwriting rules then in effect. If no designation is made within thirty (30) days of the death of the Annuitant, the Certificate Holder will become the Annuitant. If the Certificate Holder is a non-natural person, the death of the Annuitant will be treated as the death of the Certificate Holder and a new Annuitant may not be designated. Upon the death of the Annuitant during the Annuity Period, the death benefit, if any, will be as specified in the Annuity Option elected. Death benefits will be paid at least as rapidly as under the method of distribution in effect at the Annuitant's death.
DEATH OF ANNUITANT. Beneficiary (Cont'd):
(c) No Beneficiary Named/Surviving: If there is no Beneficiary, the present value of any remaining payments will be paid in one sum to the Certificate Holder, or if the Certificate Holder is not living, then to the Certificate Holder's estate.
(d) If the Beneficiary or the successor payee dies while receiving Annuity Payments, any remaining payments will continue to the successor Beneficiary/payee or upon election by the successor Beneficiary/payee, the present value of any remaining payments will be paid in one sum to the successor Beneficiary/payee. If no successor Beneficiary/payee has been designated, the present value of any remaining payments will be paid in one sum to the Beneficiary's/payee's estate.
(e) The present value will be determined as of the Valuation Date in which proof of death acceptable to Aetna and a request for payment is received at Aetna's home office.
DEATH OF ANNUITANT. WHERE YOU ARE THE ANNUITANT. We will pay the minimum death benefit, less any debt, to the Beneficiary if you are the Annuitant, there is no surviving Co-Annuitant and you die before the Maturity Date. The Beneficiary becomes entitled to exercise ownership rights in the Contract and may continue the Contract. If this is a Non-Qualified Contract, the following special distribution rules apply. Distribution of the Beneficiary's interest in the Contract must be made within 5 years after your death or as an annuity which begins within one year of death and is payable over the life of the Beneficiary (or over a period not in excess of the Beneficiary's life expectancy). If your spouse is the Beneficiary, your spouse may elect to be treated as Owner and distribution will be made no later than the date on which distribution would be required after the death of your spouse. If you are the Annuitant, there is a surviving Co-Annuitant, and you die before the Maturity Date, payment of your interest in the Contract will be made in accordance with the Death of Owner provision of this Contract.