The Death Benefit Sample Clauses

The Death Benefit. If the Owner is less than age 90 on the date of death, the death benefit during the first 8 Contract Years will be equal to the greater of:
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The Death Benefit. If any Owner (or, if the Owner is not a natural person, any Annuitant) dies before the Maturity Date, the Death Benefit is payable to the Beneficiary as determined under Section 3.4.
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The Death Benefit. The Death Benefit is payable to the Beneficiary as determined under Section 3.4 if the Annuitant dies (1) before the Annuity Commencement Date and before the Contract enters the Lifetime Automatic Periodic Benefit Status or (2) while the Payments for Life with Surrender Right and Death Benefit Annuity Plan is in effect and before the Contract enters Lifetime Automatic Periodic Benefit Status. Only one Death Benefit is payable under this Contract. If there are multiple Beneficiaries, the Death Benefit will be paid in equal shares to all primary Beneficiaries unless you previously provided Notice to Us directing otherwise. The Death Benefit will be the Accumulation Value and will be determined as of the date we receive Proof of Death. If we receive Proof of Death and all required claim forms on the same date, the Death Benefit will be paid on that date. This paragraph applies if the Payments for Life with Surrender Right and Death Benefit Annuity Plan is not in effect at the time the Death Benefit becomes payable. If the Death Benefit becomes payable, it may be received in a single lump sum or applied to any Annuity Plan described in Section 6.4 except the Payments for Life with Surrender Right and Death Benefit Annuity Plan, subject to the requirements of and time limits prescribed by Section 72(s) of the Code and the provisions of this Section 6.3 relating to spousal Beneficiaries and non-spousal Beneficiaries. If the Death Benefit is applied to an Annuity Plan, the Beneficiary is deemed to be the Annuitant. If the Payments for Life with Surrender Right and Death Benefit Annuity Plan is in effect at the time the Death Benefit becomes payable, you may receive the Death Benefit as described under that Annuity Plan in Section 6.4. Except in the case of spousal continuation where a Joint and Survivor MGWB has been elected, the death of the Annuitant will terminate the Minimum Guaranteed Withdrawal Benefit and, upon payment of the Death Benefit, the Contract. In the case of spousal continuation where a Joint and Survivor MGWB has been elected, the death of both the Annuitant and the Annuitant’s spouse, will terminate the Minimum Guaranteed Withdrawal Benefit and, upon payment of the Death Benefit, the Contract. Upon Proof of Death, any charges for the Minimum Guaranteed Withdrawal Benefit which are due but unpaid for any period of time the Minimum Guaranteed Withdrawal Benefit was active and in force prior to the date of death will be deducted or any charges fo...
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The Death Benefit. 12 Beneficiary......................................................... 12 Death prior to Income Date (in the Accumulation Phase).............. 12 Owner and Annuitant are the Same.................................... 12 Owner and Annuitant are Different and the Owner Dies................ 12 Owner and Xxxxxxxxx are Different and the Annuitant Dies............ 13 Death on or After the Income Date (in the Income Phase)............. 13 If the Owner dies................................................... 13 If the Annuitant dies............................................... 13
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The Death Benefit. The Death Benefit is the Accumulated Value of the Contract and only becomes payable to the Primary Annuitant's Beneficiary (Beneficiary) upon the death of the Annuitant and the Joint Annuitant, if applicable. Before the Death Benefit can be calculated and paid, the following must be provided to the Company:
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The Death Benefit. If any Owner (any Annuitant if any Owner is not an individual) dies before the Annuity Commencement Date, we will pay the Death Benefit to the primary Beneficiary. If all primary Beneficiaries die before any Owner (any Annuitant, if applicable), the Death Benefit is paid to the Contingent Beneficiary, if any. Only one Death Benefit is payable under this Contract. If there are multiple Beneficiaries, the Death Benefit will be paid in equal shares to all Beneficiaries in the same class unless you provide Notice to Us directing otherwise. The Death Benefit is the Accumulation Value less any recapture of Premium Credits. The Death Benefit may be received in a single lump sum or applied to any of the Annuity Plans, subject to applicable law. If the Death Benefit is applied to an Annuity Plan, the Beneficiary is deemed to be the Annuitant. See Section 6.4.
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The Death Benefit. PAYABLE DATE is the date we authorize payment of the death benefit, which is the date we receive due proof of death of you or the annuitant and all information required to be furnished for payment of the death benefit.
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The Death Benefit. Except as described above under the "Contract Continuation by Surviving Spouse or Beneficiary provision," the provisions of this Rider will terminate upon the death of the Owner and the death benefit amount will be determined under the death benefit provisions of the Contract. However, if Your Contract provides for a death benefit amount that is the greatest of multiple benefits including the Adjusted Purchase Payment, the Adjusted Purchase Payment provision is deleted and replaced with "total Purchase Payments made to the Contract, less any prior withdrawals." THE TRAVELERS INSURANCE COMPANY [ILLEGIBLE] President L-22369 Rev. Date: 12-2002 AMENDMENT XX. 0 XX XXXXXXXXX XXXXXXXXXXX XXXXXXXXX XX. 00000, DATED NOVEMBER 1,1999 between TRAVELERS INSURANCE COMPANY and its Subsidiary TRAVELERS LIFE AND ANNUITY COMPANY (CEDING COMPANY) and AXA CORPORATE SOLUTIONS LIFE REINSURANCE COMPANY (REINSURER) Effective as indicated below, this Amendment is hereby attached to and becomes a part of the above-described Reinsurance Agreement. It is mutually agreed that: SCHEDULE B, INVESTMENT FUNDS, is hereby replaced by the attached revised Schedule B to describe revisions and additions to the fund offerings as of the dates indicated. This Amendment does not alter, amend or modify the Reinsurance Agreement other than as set forth in this Amendment, and it is subject otherwise to all the terms and conditions of the Reinsurance Agreement together with all Amendments and supplements thereto. TRAVELERS INSURANCE COMPANY TRAVELERS LIFE AND ANNUITY COMPANY By: [ILLEGIBLE] Date: 9/22/04 -------------------------------- ------- Name/Title Attest: [ILLEGIBLE] ---------------------------- Name/Title Vice President AXA CORPORATE SOLUTIONS LIFE REINSURANCE COMPANY By: -s- Xxxxxxx X. Xxxxxxxx Date: 18 February 2004 ---------------------------------- ---------------- Xxxxxxx X. Xxxxxxxx, Senior Vice President By: -s- Xxxxx X. Xxxxxx ----------------------------------------- Xxxxx X. Xxxxxx, Assistant Vice President Attest: -s- Xxxxx Xxxxxxx --------------------------------------- Xxxxx Xxxxxxx, Assistant Vice President The Travelers Companies, Agreement No. 99031, Effective November 1, 1999 Amendment No. 6 SCHEDULE B INVESTMENT FUNDS VINTAGE XTRA FUNDS AND STATUS ALLIANCEBERNSTEIN VARIABLE PRODUCT SERIES FUND, INC. AllianceBernstein Growth and Income Portfolio - Class B (name changed May 1, 2003; formerly Alliance Growth & Income - Class B, added May 1, 2002) AllianceBernstein Premier Growt...
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The Death Benefit. Death Benefits available to an Insured are determined in accordance with the Death Benefit provision of The Policy. The Guaranteed Death Benefit, Deferred Paid-Up Term Death Benefits and One Year Term Insurance for a given Insured vary according to Issue Age, Mortality Table, Rate Class, Premium and Non-Guaranteed Credits described in The Policy. Given the variability of these factors, the Guaranteed Death Benefit, Deferred Paid-Up Term Death Benefits and One Year Term Insurance for a given Insured are only illustrated in the Certificate Schedule and Illustration issued to the Certificateholder. The following provisions govern the calculation of the Death Benefit: Guaranteed Death Benefit While premiums are being paid, the Policy provides for an initial level Guaranteed Death Benefit during the Initial Guaranteed Death Benefit Period. After the Initial Guaranteed Death Benefit Period, the Guaranteed Death Benefit equals the Reduced Guaranteed Death Benefit. The guaranteed death benefits and death benefit periods are shown on the Certificate Schedule. The Guaranteed Death Benefit is equal to the sum of the Guaranteed Paid-Up Term Death Benefit and the Decreasing Term Death Benefit. The Guaranteed Death Benefit Coverage terminates without value at the Expiry Date shown in the Certificate Schedule.
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Related to The Death Benefit

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • Pre-Retirement Death Benefit 4.1 (a) Normal form of payment. If (i) the Director dies while employed by the Bank, and (ii) the Director has not made a Timely Election to receive a lump sum benefit, this Subsection 4.1(a) shall be controlling with respect to pre-retirement death benefits. The balance of the Director=s Retirement Income Trust Fund, measured as of the later of (i) the Director=s death, or (ii) the date any final lump sum Contribution is made pursuant to Subsection 2.1(b), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable for the Payout Period. Such benefits shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is less than the rate of return used to annuitize the Retirement Income Trust Fund, no additional contributions to the Retirement Income Trust Fund shall be required by the Bank in order to fund the final benefit payment(s) and make up for any shortage attributable to the less-than-expected rate of return. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is greater than the rate of return used to annuitize the Retirement Income Trust Fund, the final benefit payment to the Director=s Beneficiary shall distribute the excess amounts attributable to the greater-than-expected rate of return. The Director=s Beneficiary may request to receive the unpaid balance of the Director=s Retirement Income Trust Fund in a lump sum payment. If a lump sum payment is requested by the Beneficiary, payment of the balance of the Retirement Income Trust Fund in such lump sum form shall be made only if the Director=s Beneficiary notifies both the Administrator and trustee in writing of such election within ninety (90) days of the Director=s death. Such lump sum payment shall be made within thirty (30) days of such notice. The Director=s Accrued Benefit Account (if applicable), measured as of the later of (i) the Director's death or (ii) the date any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account pursuant to Subsection 2.1(c), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable to the Director's Beneficiary for the Payout Period. Such benefit payments shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death, or if later, within thirty (30) days after any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account in accordance with Subsection 2.1(c).

  • PAYMENT OF DEATH BENEFIT The Company will require due proof of death before any death benefit is paid. Due proof of death will be:

  • Death Benefits Upon the Executive's death during the Contract Period, his estate shall not be entitled to any further benefits under this Agreement.

  • Accrued Benefit 1.05 1.16 Nonforfeitable ............................................. 1.05 1.17 Plan Year/Limitation Year .................................. 1.05 1.18 Effective Date ............................................. 1.05 1.19 Plan Entry Date ............................................ 1.05 1.20

  • Survivor Benefit Upon the death of a regular employee who leaves a spouse and/or dependants enrolled in the Medical Services Plan, Dental Plan and Extended Health Benefit Plan, such enrolment may continue for twelve (12) months following the employee’s death, provided the enrolled family members pay the employee’s share of the cost of the premium for the plans. The Employer shall advise the survivor of this benefit.

  • Disability Benefit If the Executive terminates employment due to Disability prior to Normal Retirement Age, the Company shall pay to the Executive the benefit described in this Section 2.3 in lieu of any other benefit under this Agreement.

  • Change in Control Benefit If a Change in Control occurs followed within twenty-four (24) months by Separation from Service prior to Normal Retirement Age, the Bank shall distribute to the Executive the benefit described in this Section 2.4 in lieu of any other benefit under this Article.

  • Surviving Spouse The term "Surviving Spouse" shall mean the person, if any, who shall be legally married to the Executive on the date of the Executive's death.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

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