DEATH BENEFIT BEFORE THE ANNUITY COMMENCEMENT DATE Sample Clauses

DEATH BENEFIT BEFORE THE ANNUITY COMMENCEMENT DATE. The Death Benefit payable is equal to the greater of:
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DEATH BENEFIT BEFORE THE ANNUITY COMMENCEMENT DATE. If you or the Annuitant die prior to the annuity commencement date, We will pay the death benefit to the Beneficiary. In the event that there are multiple owners, the death benefit will be payable upon the first death of an owner. Where a contract owner dies before the annuity commencement date and there one or more surviving owners, the beneficiary of the death benefit will be the surviving owner or owners in equal shares, rather than the beneficiary designated by the contract owners. The amount of the death benefit is the greater of:
Sample 1
DEATH BENEFIT BEFORE THE ANNUITY COMMENCEMENT DATE. The Death Benefit payable is equal to the greater of: a) Surrender Value, or b) the greatest Death Benefit payable under any rider or endorsement made part of this contract. LIMITATIONS ON THE DEATH BENEFIT BEFORE THE ANNUITY COMMENCEMENT DATE The Death Benefit before the Annuity Commencement Date under this contract and any riders or endorsements is limited if the death of one person results in death benefits payable under one or more deferred variable annuity contracts that are issued by Us or Our affiliates, have aggregate premium payments of $5,000,000 or more, and have a provision that limits the amount of payable death benefits. DEATH BENEFITS (CONTINUED) If You purchase one or more contracts with an initial premium payment of $5,000,000 or more, the aggregate death benefits cannot exceed: a) the aggregate premium payments, modified by adjustments for partial surrenders under all applicable contracts and associated riders; or b) the aggregate Contract Value plus $1 million. If You purchase one or more contracts with an initial premium payment of less than $5,000,000, but You add premium payments or purchase additional contracts such that premium payments under the contracts aggregate to $5,000,000 or more, the aggregate death benefits cannot exceed: c) the aggregate premium payments, modified by adjustments for partial surrenders under all applicable contracts and associated riders; or d) the aggregate Contract Value plus $1 million; or e) the aggregate Contract Value plus the sum of the death benefits in excess of the aggregate Contract Value payable at the time aggregate premium payments first exceeded $5,000,000. These limitations are applied to multiple contracts in proportion to the death benefit payable on each contract. Any death benefits limited under Section (e) above are applied to multiple contracts so that the death benefit under each contract does not exceed the death benefit otherwise payable without any limitation under this provision. For the purposes of this provision, contracts purchased on the same day are considered one contract. SETTLEMENT OF THE DEATH BENEFIT The Death Benefit may be taken in one sum or under any of the settlement options then being offered by Us subject, however, to the Distribution Requirements below. The Beneficiary may elect any available settlement option unless the Contract Owner has designated the settlement option for that Beneficiary. The available settlement options include any of the annuity options u...
Sample 1
DEATH BENEFIT BEFORE THE ANNUITY COMMENCEMENT DATE. A death benefit will be paid to the Beneficiary if, prior to the annuity commencement date:
Sample 1

Related to DEATH BENEFIT BEFORE THE ANNUITY COMMENCEMENT DATE

  • ANNUITY COMMENCEMENT DATE The Valuation Date on which the Contract Value is withdrawn for payment of annuity benefits under the Annuity Payment Option selected.

  • Life Annuity The monthly annuity shall be payable to the annuitant for as long as the annuitant lives, and shall end with the last monthly payment before the death of the annuitant.

  • Death Subsequent to Commencement of Benefit Payments In the event the Executive dies while receiving payments, but prior to receiving all payments due and owing hereunder, the Employer shall pay the Beneficiary the same amounts at the same times as the Employer would have paid the Executive, had the Executive survived.

  • Death After Separation from Service But Before Benefit Distributions Commence If the Executive is entitled to benefit distributions under this Agreement, but dies prior to the commencement of said benefit distributions, the Bank shall distribute to the Beneficiary the same benefits that the Executive was entitled to prior to death except that the benefit distributions shall commence within thirty (30) days following receipt by the Bank of the Executive’s death certificate.

  • Death of the Annuitant If the Annuitant is not an Owner and dies prior to the Annuity Date, Owner 1 will become the new Annuitant unless you designate otherwise. If any Owner is not an individual, we will treat the death of the Annuitant as the death of an Owner.

  • ANNUITY Payment of an income:

  • Fixed Annuity 10 1.16 Fund(s) ........................................................... 10 1.17

  • Death After Termination of Employment But Before Benefit Payments Commence If the Executive is entitled to benefit payments under this Agreement, but dies prior to the commencement of said benefit payments, the Company shall pay the benefit payments to the Executive's beneficiary that the Executive was entitled to prior to death except that the benefit payments shall commence on the first day of the month following the date of the Executive's death.

  • Vesting Commencement Date Exercise Price per Share: Total Number of Shares: Type of Option: Non-Qualified Stock Option/Incentive Stock Option

  • Normal Retirement Date The term “Normal Retirement Date” means “Normal Retirement Date” as defined in the primary qualified defined benefit pension plan applicable to the Executive, or any successor plan, as in effect on the date of the Change in Control of the Company.

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