SPOUSAL CONTINUATION. If the spouse continues the Contract under the "Spouse Beneficiary" provision of the Contract, We will increase the Contract Value to the DB value as of the date We receive Due Proof of Death according to the future contribution allocation then in effect. The surviving spouse becomes the new Contract Owner on the effective date of the spousal continuation. The following are the effects of an ownership change due to spousal continuation:
Appears in 2 contracts
Sources: Individual Flexible Premium Variable Annuity Contract (Hartford Life Insurance Co Separate Account Seven), Individual Flexible Premium Variable Annuity Contract (Hartford Life & Annuity Insurance Co Separate Account Seven)