Death of Owner. If the Owner dies before the sole surviving Annuitant and before the Annuity Date, the death benefit proceeds will be equal to the Death Benefit Amount as of the Notice Date. If the Owner dies before the sole surviving Annuitant and before the Annuity Date, we will pay the death benefit proceeds to the first among the following who is (1) living; or (2) an entity entitled to receive the death benefit proceeds:
Death of Owner. If at the Owner's death, the surviving spouse of the deceased Owner is the beneficiary and such surviving spouse elects to continue the contract as their own pursuant to Internal Revenue Code Section 72(s) or the equivalent provisions of U.S. Treasury Department rules for qualified plans, the following will apply: (a) If the Guaranteed Death Benefit as of the date we receive due proof of death of the Owner, minus the Accumulation Value, also as of that date, is greater than zero we will add such difference to the Accumulation Value. Such addition will be allocated to the divisions of the Separate Account in proportion to the Accumulation Value in the Separate Account. If there is no Accumulation Value in the Separate Account, the addition will be allocated to the Liquid Assets division, or its successor. (b) The Guaranteed Death Benefit will continue to apply, with all age criteria using the surviving spouse's age as the determining age. (c) At subsequent surrender, any surrender charge applicable to premiums paid prior to the date we receive due proof of death of the Owner will be waived. Any premiums paid later will be subject to any applicable surrender charge. This addition to Accumulation Value is available only to the spouse of the Owner as of the date of death of the Owner if such spouse under the provisions if this contract elects to continue the contract as their own. GA-RA-1044-2 DEDUCTIONS FROM THE DIVISIONS Mortality and Expense Risk Charge - We deduct a charge from the assets in each separate account division on a daily basis at a rate of [0.003863%] (equivalent to an annual rate of [1.60%]) for mortality and expense risks. The charge is not deducted from the fixed account or general account accumulation values. All other provisions of the Contract to which this Endorsement is attached remain unchanged. /s/Barnett Chernow Signed: -------------------- Barnett Xxxxxxx
Death of Owner. Death benefit
Death of Owner. Transfers on death of member owner
Death of Owner. Upon death of the Owner prior to the Annuity Date, the Death Benefit will be paid to the Beneficiary designated by the Owner. The Death Benefit will be the greater of:
Death of Owner. If you are not the Annuitant and you die before the Annuitant and before the Annuity Date, the death benefit proceeds will be equal to the Contract Value as of the Notice Date. If there is a Joint Owner, the death benefit proceeds will be payable upon the death of the first Owner, unless the Joint Owner is a surviving spouse and such spouse is also the sole surviving Beneficiary. If you die while the Annuitant is living and prior to the Annuity Date, we will pay the death benefit proceeds to the first among the following who is: (1) living; or (2) an entity or corporation entitled to receive the death benefit proceeds:
Death of Owner. Transfers on death of owner who was a pension plan member
Death of Owner. If any Owner who is not the Annuitant dies and there are remaining annuity payments, payments will continue, and the Owner’s Contract rights will Transfer per the Line of Succession provision.
Death of Owner. The purpose of this Section is to qualify this Contract as an annuity contract in accordance with Section 72(s) of the Internal Revenue Code of 1986, as amended ("Code"). Its provisions shall apply notwithstanding any other provisions of the Contract in conflict therewith. In the event any Owner of this Contract who is not the Annuitant dies on or after the Maturity Date and before the entire interest in the Contract has been distributed, the remaining portion of such interest will be distributed at least as rapidly as under the Annuity Option in effect as of the Date of the Owner's death. In the event any Owner of this Contract who is not the Annuitant dies prior to the Maturity Date, the entire interest of that Owner in this Contract shall be distributed to the Beneficiary within five years after the Owner's death, or distributed under an Annuity Option providing for annuity payments over the life of such Beneficiary or over a period not extending beyond the life expectancy of such Beneficiary (in accordance with the regulations the Secretary of the Treasury may prescribe), if such payments begin within one year after the date of the Owner's death or such later date as the Secretary of the Treasury may prescribe by regulations. In addition, if any portion of the Owner's interest in this Contract is payable to (or for the benefit of) the Owner's surviving spouse, that spouse shall be deemed to have been designated by the Owner as a "designated beneficiary" for purpose of Section 72(s) of the Code, and shall be treated as the Owner, and no distributions described hereinabove shall be required, with respect to that portion of the Contract payable to (or for the benefit of) such spouse. If the Owner who dies is the one named in the original application for this Contract, the entire interest of that Owner in this Contract will be the same as if the Owner had been the Annuitant; if the Owner who dies is not the one named in the original application for this Contract, the entire interest of that Owner shall be the Accumulated Value of this Contract.
Death of Owner. 20. Despite anything to the contrary, in the event of the death of the Owner of an Employee Unit, the Employee Unit may be transferred from the Owner’s estate to the Owner’s spouse or a child of the Owner who is at least 19 years old, provided that such spouse or child is a Qualified Person, without having to first make efforts to sell the Employee Unit to a Qualified Person on the Whistler Housing Authority’s Qualified Person list. In addition, if the Owner dies without a spouse, but has a child younger than 19 years old, the Municipality may, in its sole discretion, approve of a transfer to another family member or the child’s legal guardian, even though not a Qualified Person, who may occupy the Employee Unit with the child, on such terms and conditions as the Municipality may consider necessary to achieve the intent of this Agreement. If, and for so long as, title in the LTO to the Employee Unit remains in the name of a deceased owner, the executor of the deceased owner’s estate may request that the Municipality permit occupancy of the Employee Unit on a rental basis in accordance with the requirements of this Agreement and the Municipality may, in its sole discretion, approve of such an arrangement, on such terms and conditions as the Municipality may consider necessary to achieve the intent of this Agreement. Transfer to Child as Co-Owner
