Common use of BENEFICIARY CONTINUATION OPTION Clause in Contracts

BENEFICIARY CONTINUATION OPTION. Except as otherwise provided herein, this Section will apply only if you die before a supplementary contract has been issued and a death benefit is payable. The Beneficiary named in this Contract must be an individual. With the exception of the following paragraph, this Section does not apply to any Beneficiary which is not an individual, and that non-individual Beneficiary's portion of the death benefit described in the Section 7.02 is payable to the Beneficiary.

BENEFICIARY CONTINUATION OPTION. Except as otherwise provided herein, this Section Item 7 will apply only if you die before a supplementary contract has been issued and a death benefit Death Benefit is payable. The Beneficiary named in this Contract must be an individual. With the exception of the following paragraph, this Section does not apply to any Beneficiary which is not an individual, and that non-individual Beneficiary's portion of the death benefit described in the Section 7.02 is payable to the Beneficiary.