Death Benefit Date definition

Death Benefit Date means the date on which the death benefit payable under the Policy is paid.
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Death Benefit Date means the Valuation Date coinciding with or immediately following the date CI receives written notice of the Annuitant’s death;
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Death Benefit Date means the date we receive due proof of the Owner’s death and the Beneficiary’s election as to form of payment in Good Order in our Administrative Office.
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Examples of Death Benefit Date in a sentence

  • If the Death Benefit is to be paid in cash, the Company will make the payment within seven days of the Death Benefit Date, except as the Company may be permitted to defer any such payment in accordance with the Investment Company Act of 1940.

  • The Death Benefit is the Account Value as of the Death Benefit Date.

  • Upon surrender, payment under the Minimum Account Value provision of the Contract, application of your Account Value to an Annuity Option, or on the Death Benefit Date, the Contract Fee will be assessed for the portion of the Contract Year your Contract has been in effect.

  • Any part of the Account Value invested in the Subaccounts at the time we receive notice of the Owner’s death will remain invested in the Subaccounts until the Death Benefit Date.

  • For purposes of calculating the benefit upon the surviving spouse's death, the Participant's Account Value on the original Covered Person's Death Benefit Date (inclusive of any Death Benefit amount increases) will be considered the initial Net Purchase Payment.

  • If any Beneficiary does not elect one of the above settlement methods within 60 days of the Death Benefit Date, We will distribute the Death Benefit payable to such Beneficiary as a lump sum immediately but in all events within five years of the Owner’s death.

  • If a Death Benefit is payable on the surviving spouse's Death Benefit Date, the percentage payable ([75 %v.

  • The first Minimum Death Benefit Date is the Date of Issue of this contract.

  • In such case, the Guaranteed Lifetime Withdrawal Benefit will continue, the Second Life will become the Annuitant for purposes of determining the Death Benefit Date and the Contract Maturity Date and the Death Benefit will not become payable for any Class of Units until the death of the Second Life.

  • Interest on the Fixed Accounts is compounded daily at the Guaranteed Interest Rate, and allocated at each Interest Allocation Period stated on your Fixed Account Specifications Page, or at the following times, if sooner: Death Benefit Date, Annuity Date, the date of any partial withdrawal or Transfer from a Fixed Account, or the date you surrender the Contract.


More Definitions of Death Benefit Date

Death Benefit Date means the Valuation Date coinciding with or immediately preceding the earlier of (i) the date CI receives written notice of the Annuitant’s death, and (ii) the Contract Maturity Date;
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