Common use of receive the Death Benefit Clause in Contracts

receive the Death Benefit. If any Owner dies on or after the Annuity Start Date, Annuity Payments shall continue to be paid at least as quickly as under the method of payment being used as of the date of the Owner's death. If the Owner is a Nonnatural Person, the distribution rules set forth above apply in the event of the death of, or change in, the Annuitant. This Contract is deemed to include any provision of Section 72(s) of the Internal Revenue Code of 1986, as amended (the "Code"), or any successor provision. This Contract is also deemed to include any other provision of the Code deemed necessary by SBL in its sole judgment, to qualify this Contract as an annuity. The application of the distribution rules will be made in accordance with Code section 72(s), or any successor provision, as interpreted by SBL in its sole judgment. The foregoing distribution rules do not apply to a Contract, which is: (1) provided under a plan described in Code section 401(a) or 403(b); (2) an individual retirement annuity or provided under an individual retirement account or annuity; or (3) otherwise exempt from the Code section 72(s) distribution rules. -------------------------------------------------------------------------------- ANNUITY BENEFIT PROVISIONS -------------------------------------------------------------------------------- ANNUITY START DATE

Appears in 4 contracts

Samples: Variflex Ls, Variflex Ls, Variflex Ls

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receive the Death Benefit. If any Owner dies on or after the Annuity Start Date, Annuity Payments shall continue to be paid at least as quickly rapidly as under the method of payment being used as of the date of the Owner's death. If the Owner is a Nonnatural Person, the distribution rules set forth above apply in the event of the death of, or a change in, the Annuitant. This Contract is deemed to include incorporate any provision of Section 72(s) of the Internal Revenue Code of 1986, as amended (the "Code"), or any successor provision. This Contract is also deemed to include incorporate any other provision of the Code deemed necessary by SBL the Company, in its sole judgment, to qualify this Contract as an annuity. The application of the distribution rules will be made in accordance with Code section 72(s), or any successor provision, as interpreted by SBL the Company in its sole judgment. The foregoing distribution rules do not apply to a Contract, Contract which is: (1) provided under a plan described in Code section 401(a); (2) or described in Code section 403(b); (23) an individual retirement annuity or provided under an individual retirement account or annuity; or (34) otherwise exempt from the Code section 72(s) distribution rules. -------------------------------------------------------------------------------- ANNUITY BENEFIT PAYMENT PROVISIONS -------------------------------------------------------------------------------- ANNUITY START DATE

Appears in 3 contracts

Samples: Variflex Signature, Parkstone Variable Annuity Account, Parkstone Variable Annuity Account

receive the Death Benefit. If any Owner dies on or after the Annuity Start Payout Date, Annuity Payments shall continue to be paid at least as quickly rapidly as under the method of payment being used as of the date of the Owner's death. If the Owner is a Nonnatural Person, the distribution rules set forth above apply in the event of the death of, or a change in, the Annuitant. This Contract is deemed to include incorporate any provision of Section 72(s) of the Internal Revenue Code of 1986, as amended (the "Code"), or any successor provision. This Contract is also deemed to include incorporate any other provision of the Code deemed necessary by SBL the Company, in its sole judgment, to qualify this Contract as an annuity. The application of the distribution rules will be made in accordance with Code section 72(s), or any successor provision, as interpreted by SBL the Company in its sole judgment. The foregoing distribution rules do not apply to a Contract, Contract which is: (1) provided under a plan described in Code section 401(a); (2) or described in Code section 403(b); (23) an individual retirement annuity or provided under an individual retirement account or annuity; or (34) otherwise exempt from the Code section 72(s) distribution rules. -------------------------------------------------------------------------------- ANNUITY BENEFIT PAYMENT PROVISIONS -------------------------------------------------------------------------------- ANNUITY START PAYOUT DATE

Appears in 2 contracts

Samples: Price T Rowe Variable Annuity Account, Price T Rowe Variable Annuity Account

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receive the Death Benefit. If any Owner dies on or after the Annuity Start Date, Annuity Payments shall continue to be paid at least as quickly rapidly as under the method of payment being used as of the date of the Owner's death. If the Owner is a Nonnatural Person, the distribution rules set forth above apply in the event of the death of, or a change in, the Annuitant. This Contract is deemed to include incorporate any provision of Section 72(s) of the Internal Revenue Code of 1986, as amended (the "Code"), or any successor provision. This Contract is also deemed to include incorporate any other provision of the Code deemed necessary by SBL the Company, in its sole judgment, to qualify this Contract as an annuity. The application of the distribution rules will be made in accordance with Code section 72(s), or any successor provision, as interpreted by SBL the Company in its sole judgment. The foregoing distribution rules do not apply to a Contract, Contract which is: (1) provided under a plan described in Code section 401(a); (2) or described in Code section 403(b); (23) an individual retirement annuity or provided under an individual retirement account or annuity; or (34) otherwise exempt from the Code section 72(s) distribution rules. -------------------------------------------------------------------------------- ANNUITY BENEFIT PAYMENT PROVISIONS -------------------------------------------------------------------------------- ANNUITY START DATE--------------------------------------------------------------------------------

Appears in 1 contract

Samples: Variflex Signature

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