Common use of Minimum Death Benefit Clause in Contracts

Minimum Death Benefit. Not withstanding any other provision of the Policy, the amount to be paid as a Death Benefit on each insured's life shall never be less than an amount which would allow the portion of the policy attributable to such insured life, and the entire Policy, to be treated as life insurance for federal income tax purposes. In no event will the Death Benefit be less than the amount calculated by multiplying the Account Value applicable to the deceased Employee by the applicable Minimum Death Benefit Factor listed in Section 28 of this Group Policy based on the deceased Employee's attained age as of the most recent Anniversary Date.