Death of Annuitant/Beneficiary. (a) Certificate Holder is the Annuitant: When the Certificate Holder is the Annuitant and the Annuitant dies under Annuity Payout Option 1 or 2(b), or both the primary Annuitant and the secondary Annuitant die under Annuity Payout Option 3(d), any remaining payments will continue to the Beneficiary, or if elected by the Beneficiary and not prohibited by the Certificate Holder in the Beneficiary designation, the present value of any remaining payments will be paid in one sum to the Beneficiary. If Annuity Payout Option 3 has been elected and the Certificate Holder dies, the remaining payments will continue to the successor payee. If no successor payee has been designated, the Beneficiary will be treated as the successor payee. If the Account has joint Certificate Holders, the surviving joint Certificate Holder will be deemed the successor payee.
Death of Annuitant/Beneficiary. (a) When the Annuitant dies under Options 2 or 3, or both the Annuitant and second Annuitant die under Option 4(d), the present value of any remaining guaranteed payments will be paid in one sum to the Beneficiary, or upon election by the Beneficiary, any remaining payments will continue to the Beneficiary. If Option 4 has been elected and the Annuitant dies, the remaining payments will continue to the second Annuitant as successor xxxxx. The second Annuitant does not have the right to change the Beneficiary upon the Contract Xxxxxx's death.
Death of Annuitant/Beneficiary. (a) Certificate Holder is Annuitant: When the Certificate Holder is the Annuitant and the Annuitant dies under option 2 or 3, or both the Annuitant and the second Annuitant die under option 4(d), the present value of any remaining guaranteed payments will be paid in one sum to the Beneficiary, or upon election by the Beneficiary, any payments remaining will continue to the Beneficiary. If option 4 has been elected and the Certificate Holder dies, the remaining payments will continue to the successor payee. If no successor payee has been designated, the Beneficiary will be treated as the successor payee. If the Account has joint Certificate Holders, the surviving joint Certificate Holder will be deemed the successor payee. Delete the first paragraph of subsection (b) of Section 4.03, Death of Annuitant/Beneficiary, and replace it with the following:
Death of Annuitant/Beneficiary. When an Annuitant dies while payments are being made under an Annuity Option, payments will be continued to the beneficiary as provided by the option. If no beneficiary is living, the present value of any remaining payments will be paid in one sum to the estate of the Annuitant. The present value will assume the same interest rate that was used when the first payment was made. When a beneficiary dies while a sum is held at interest, the amount held will be paid in one sum to the estate of the beneficiary. When a beneficiary dies while payments are being made under an Annuity Option, the present value of any remaining payments will be paid in one sum to the estate of the beneficiary. The present value will assume the same interest rate that was used when the first payment was made. [Aetna Logo] Aetna Life Insurance and Annuity Company Home Office: 000 XXXXXXXXXX XXX. HARTFORD, CONNECTICUT 06156 (000) 000-0000 GROUP VARIABLE OR FIXED ANNUITY OR COMBINATION CONTRACT NON-PARTICIPATING ALL PAYMENTS AND VALUES PROVIDED BY THIS CONTRACT, WHEN BASED ON INVESTMENT EXPERIENCE OF A SEPARATE ACCOUNT, ARE VARIABLE AND ARE NOT GUARANTEED AS TO FIXED DOLLAR AMOUNT. Aetna Life Insurance and Annuity Company ENDORSEMENT This Contract is hereby endorsed as follows: The first paragraph of the Surrender Value provision of the Deposit, Reserve, and Surrender Provisions shall be changed to read as follows: The amount paid by Aetna upon the surrender of all or any portion of the Active Life Fund or the Individual Account(s) shall be reduced by a surrender fee. The surrender fee will be a percentage of the amount surrendered and will vary according to the number of Deposit Cycles completed for the Individual Account(s) being surrendered. The number and amount of deposits to be made in a year is chosen by the Owner. A Deposit Cycle is completed when this number or amount of deposits has been made. The number of completed Deposit Cycles may not be greater than the number of whole years since the date the Individual Account was established. For each surrender from an Individual Account, the fee will be as follows:
Death of Annuitant/Beneficiary. When an Annuitant dies while payments are being made under an Annuity Option, payments will be continued to the beneficiary as provided by the option. If no beneficiary is living, the present value of any remaining payments will be paid in one sum to the Owner. The present value will assume the same interest rate that was used when the first payment was made. When a beneficiary dies while a sum is held at interest, the amount held will be paid in one sum to the estate of the beneficiary. When a beneficiary dies while payments are being made under an Annuity Option, the present value of any remaining payments will be paid in one sum to the estate of the beneficiary. The present value will assume the same interest rate that was used when the first payment was made. GSD-CDA-HO 21 Aetna Life Insurance and Annuity Company Home Office: 000 XXXXXXXXXX XXX. HARTFORD, CONNECTICUT 06156 (000) 000-0000 GROUP VARIABLE OR FIXED ANNUITY OR COMBINATION CONTRACT NON-PARTICIPATING ALL PAYMENTS AND VALUES PROVIDED BY THIS CONTRACT, WHEN BASED ON INVESTMENT EXPERIENCE OF A SEPARATE ACCOUNT, ARE VARIABLE AND ARE NOT GUARANTEED AS TO FIXED DOLLAR AMOUNT GSD-CDA-HO 22
Death of Annuitant/Beneficiary. When an Annuitant dies while payments are being made under an Annuity Option, payments will be continued to the beneficiary as provided by the option. If no beneficiary is living, the present value of any remaining payments will be paid in one sum to the estate of the Annuitant. The present value will assume the then current commutation rate used by Aetna. When a beneficiary dies while a sum is held at interest, the amount held will be paid in one sum to the estate of the beneficiary. When a beneficiary dies while payments are being made under an Annuity Option, the present value of any remaining payments will be paid in one sum to the estate of the beneficiary. The present value will assume the then current commutation rate used by Aetna.
Death of Annuitant/Beneficiary. 23 GLID-CDA-HO 4 GENERAL DEFINITIONS
Death of Annuitant/Beneficiary. When an Annuitant dies any remaining payments will be continued to the beneficiary. If the beneficiary is not a person or persons, the present value of any remaining payments will be paid in one sum. If no beneficiary exists, the present value of any remaining payments will be paid in one sum to the estate of the Annuitant. If a beneficiary dies while under Option 1; or while receiving Annuity payments, the present value of any remaining payments will be paid in one sum to the estate of the beneficiary. The interest rate used to determine the first payment will be used to calculate the present value.
Death of Annuitant/Beneficiary. If the Annuitant dies after Xxxxxxx payments have begun, the death benefit, if any, will be payable to the Beneficiary 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. If the Certificate Holder who is not the Annuitant dies after Xxxxxxx payments have begun, any remaining payments under the Annuity option elected will be made to the Beneficiary at least as rapidly as under the method of distribution in effect at the Certificate Holder's death. If the Account is held by joint Certificate Holders, the survivor will be deemed the designated Beneficiary and any other Beneficiary on record will be treated as the contingent Beneficiary. Aetna will require proof of death.
Death of Annuitant/Beneficiary. (a) When the Annuitant dies, the present value of any remaining guaranteed payments will be paid in one sum to the Beneficiary, or upon election by the Beneficiary, any remaining payments will continue to the Beneficiary.
