Common use of By Beneficiary Clause in Contracts

By Beneficiary. If the death benefit under this contract becomes payable to a beneficiary (recipient) under an Annuity Payment plan, that recipient shall have the right to name, or later change, their own beneficiary by Written Request or other method agreed to by Us and recorded by Us. If there is no valid beneficiary designation or if no beneficiary survives the recipient, We will pay any benefits due under the Annuity Payment plan following the death of the original beneficiary as follows: • to the recipient’s spouse, if living, otherwise; • if no spouse is living, to the recipient’s lawful children, if living, otherwise; • if the recipient has no spouse or direct descendants, to the recipient’s parents equally or the survivor, if living, otherwise; • to the recipient’s estate.

By Beneficiary. If the death benefit under this contract becomes payable to a beneficiary (recipient) under an Annuity Payment plan, that recipient shall have the right to name, or later change, their own beneficiary by Written Request or other method agreed to by Us and recorded by Us. If there is no valid beneficiary designation or if no beneficiary survives the recipient, We will pay any benefits due under the Annuity Payment plan following the death of the original beneficiary as follows: • to the recipient’s spouse, if living, otherwise; • if no spouse is living, to the recipient’s lawful children, if living, otherwisechildren per stirpes; • if the recipient has no spouse or direct descendants, to the recipient’s parents equally or the survivor, if living, otherwise; • to the recipient’s estate.