Common use of For Death Benefits by Owner Clause in Contracts

For Death Benefits by Owner. The Owner may elect payment plans for death benefits while the Annuitant is living. FOR MATURITY BENEFITS OR WITHDRAWAL AMOUNTS. The Owner may elect payment plans for maturity benefits or withdrawal amounts. TRANSFER BETWEEN PAYMENT PLANS. A beneficiary who is receiving payment under a payment plan which includes the right to withdraw may transfer the amount withdrawable to any other payment plan that is available.