DEATH OF ANNUITANT. Upon the death of an Annuitant, who is not the Contract Owner, during the Accumulation Period, you may designate a new Annuitant, subject to our underwriting rules then in effect. If no designation is made within 30 days of the death of the Annuitant, you will become the Annuitant. If the Contract Owner is a non-individual, the death of the Annuitant will be treated as the death of the Contract Owner and a new Annuitant may not be designated. Upon the death of the Annuitant during the Annuity Period, the death benefit, if any, will be as specified in the Annuity Option elected. Death benefits will be paid at least as rapidly as under the method of distribution in effect at the Annuitant's death.
DEATH OF ANNUITANT. On the death of the last surviving Annuitant, the Owner becomes the new Annuitant, if the Owner is an individual. If any Owner is not an individual the death of any Annuitant is treated as the death of an Owner and the Death Benefit will be determined by substituting the Annuitant for the Owner as described below.
DEATH OF ANNUITANT. Upon the death of an Annuitant (or death of both Joint Annuitants), who is not the Contract Owner, during the Accumulation Phase, you will become the Annuitant, unless you designate another Annuitant within 30 days of the death of the Annuitant. If the Contract Owner is a non-individual, the death of an Annuitant will be treated as the death of the Contract Owner and a new Annuitant may not be designated. Upon the death of the Annuitant during the Annuity Phase, the death benefit, if any, will be as specified in the Annuity Option elected. Death benefits will be paid at least as rapidly as under the method of distribution in effect at the Annuitant's death.
Examples of DEATH OF ANNUITANT in a sentence
DEATH OF ANNUITANT If there is no Contingent Annuitant, the Contract Owner and the Annuitant are not the same person, and the Annuitant dies before the Annuitization Date, then rights to the Death Benefit are determined in the following order: (1) the Beneficiary(ies), if they survive the Annuitant; (2) the Contingent Beneficiary(ies), if they survive the Annuitant; (3) the last surviving Contract Owner's estate.
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APPLIES TO DEATH OF ANNUITANT: [ ] Maximum Anniversary Death Benefit [ ] 3% Annual Guarantee Death Benefit [ ] Earnings Enhanced Death Benefit Available only if Maximum Anniversary and/or 3% Annual Guarantee are selected.
DEATH OF ANNUITANT: On the death of the last surviving Annuitant, the Owner becomes the new Annuitant, if the Owner is an individual.
DEATH OF ANNUITANT -- Upon death of the Annuitant prior to the Annuity Date, the Owner must designate a new Annuitant.
More Definitions of DEATH OF ANNUITANT
DEATH OF ANNUITANT. If the Annuitant who is also the Owner dies prior to the Payout Start Date, the Death of Owner provision applies. If the Annuitant who is not also the Owner dies prior to the Payout Start Date, the Options available to the Owner will be determined by the applicable following Category in which the Owner is defined.
DEATH OF ANNUITANT. Beneficiary (Cont'd):
DEATH OF ANNUITANT. On the death of the last surviving Annuitant, the Owner becomes the new Annuitant, if the Owner is an individual. If any Owner is not an individual the death of any Annuitant is treated as the death of an Owner and the Death Benefit will be determined by substituting the Annuitant for the Owner as described below. DEATH OF OWNER: We will pay the Death Benefit to the Beneficiary if any Owner dies prior to the Maturity Date. The Death Benefit may be taken in one sum immediately, in which case the Contract will terminate. If the Death Benefit is not taken in one sum immediately, the Contract will continue subject to the following provisions:
DEATH OF ANNUITANT. Upon the death of an Annuitant, who is not the Contract Owner, during the Accumulation Period, you will become the Annuitant, unless you designate another Annuitant. If the Contract Owner is a non-individual, the death of the Annuitant will be treated as the death of the Contract Owner and a new Annuitant may not be designated. Upon the death of the Annuitant during the Annuity Period, the death benefit, if any, will be as specified in the Annuity Option elected. Death benefits will be paid at least as rapidly as under the method of distribution in effect at the Annuitant's death.
DEATH OF ANNUITANT. Upon the death of an Annuitant, who is not the Certificate Holder, during the Accumulation Period, the Certificate Holder may designate a new Annuitant, subject to the Company's underwriting rules then in effect. If no designation is made within thirty (30) days of the death of the Annuitant, the Certificate Holder will become the Annuitant. If the Certificate Holder is a non-natural person, the death of the Annuitant will be treated as the death of the Certificate Holder and a new Annuitant may not be designated. Upon the death of the Annuitant during the Annuity Period, the death benefit, if any, will be as specified in the Annuity Option elected. Death benefits will be paid at least as rapidly as under the method of distribution in effect at the Annuitant's death.
DEATH OF ANNUITANT. Upon the death of the Annuitant prior to the Annuity Date, the Owner must designate a new Annuitant. If no designation is made within 30 days of the death of the Annuitant, the Owner will become the Annuitant. If the Owner is a non-natural person, the death of the Annuitant will be treated as the death of the Owner and a new Annuitant may not be designated. Upon the death of the Annuitant after the Annuity Date, the Death Benefit, if any, will be as specified in the Annuity Option elected.
DEATH OF ANNUITANT. Beneficiary: When an Annuitant dies under Options 2 and 3, or if both the Annuitant and survivor die under Option 4 (d), the present value of any remaining guaranteed payment will be paid in one sum to the beneficiary, or upon election by the beneficiary, any remaining payments will continue to the beneficiary. If there is no beneficiary under Option 2 and 3, the present value of any remaining payments will be paid in one sum to the estate of the Annuitant. If there is no beneficiary under Option 4(d), the present value of any remaining payments will be paid in one lump sum to the last survivor's estate. If the Annuitant dies under Option 1, the amount held plus accrued interest will be paid in one sum to the beneficiary. If there is no beneficiary, the lump sum will be paid to the Annuitant's estate. If the beneficiary dies while receiving annuity payments elected by the Annuitant, the present value of any remaining payments will be paid in one sum to the beneficiary's estate unless otherwise elected. The interest rate used to determine the first payment will be used to calculate the present value.