Guaranteed Death Benefit means an amount which will be highest of the following:
Guaranteed Death Benefit. INTEREST RATE - The annual rate at which the Guaranteed Death Benefit is calculated. GUARANTEE PERIOD - The period of years a rate of interest is guaranteed to be credited to a Fixed Allocation or allocations to a Guaranteed Interest Division.
Guaranteed Death Benefit means 105% of the total Regular Premiums / Single Premium paid
Examples of Guaranteed Death Benefit in a sentence
Guaranteed Death Benefit Transfer Endorsement No. 1 (7% Solution Enhanced) (GA-RA-1044-1) (01/02).
Guaranteed Death Benefit Transfer Endorsement No. 3 (Standard) (GA-RA-1044-3) (01/02).
Guaranteed Death Benefit Transfer Endorsement No. 6 (In-force Contracts) (GA-RA-1044-6) (01/02).
Guaranteed Death Benefit Transfer Endorsement No. 2 (Ratchet Enhanced) (GA-RA-1044-2) (10/03).
Supreme VersionSmart Version Guaranteed Death Benefit 100% of sum insured1.
More Definitions of Guaranteed Death Benefit
Guaranteed Death Benefit means higher of:
Guaranteed Death Benefit. If the Owner dies before a Settlement Option has commenced, the amount of the death benefit will be the greater of:
Guaranteed Death Benefit means that the Company guarantees that the policy will not lapse during the first five policy years and that a death benefit will be paid if a sufficient amount of premium has been paid. See the Guaranteed Death Benefit Provision on page _____.
Guaranteed Death Benefit. Premium is shown in the Policy Schedule. This Premium will be recalculated when: the Face Amount is increased or decreased; the amount provided by riders attached to the Policy is increased or decreased; a partial surrender which results in a decrease in Face Amount is made; or the underwriting class of the Policy and its riders is changed to a more favorable underwriting class. When this Premium is recalculated, the new Premium and its effective date will be shown in Section 1 of the Policy. The Benefit will be in effect if (a) is equal to or greater than (b) where: (a) equals the total of the premiums paid to date; less every partial surrender made to date; less any Cash Value paid to you to allow the Policy to continue to qualify as life insurance; less the Policy Loan Balance; and (b) equals the sum of 1/12 of each Guaranteed Death Benefit Premium times the number of completed policy months the Premium was in effect plus 1/12 of the most recent Guaranteed Death Benefit Premium. If the Benefit is not in effect, the amount of premium required to put the Benefit in force is: the sum of 1/12 of each Guaranteed Death Benefit Premium times the number of completed policy months the Premium was in effect plus 1/12 of the most recent Guaranteed Death Benefit Premium; minus the total amount of premium which has already been paid into the Policy; plus every partial surrender made to date; plus any Cash Value paid to you to allow the Policy to continue to qualify as life insurance; plus the Policy Loan Balance. COST OF RIDER Whether or not the Benefit is in effect, the cost for this Rider is Rider is charged as part of the Monthly Deductions. The monthly cost for this Rider equals: the Face Amount of the Policy plus the Term Amount of the Adjustable Term Insurance Rider, if any; times $0.00001. CONTRACT This Rider is made part of the Policy to which it is attached if the Rider is listed in the Policy Schedule. (See Section 1 of the Policy.) This Rider has no cash value. TERMINATION This Rider will terminate upon the earliest of: . Termination of the Policy; . Death of the Insured; . The Insured's age 100; . A change in Death Benefit Option for the Policy; . A change from the Net Single Premium Corridor to the Enhanced Net Single Premium Corridor; or . Receipt by the Company at its Administrative Office of written election signed by the Owner of the Policy to terminate the Rider. If you elect to terminate this Rider, there can be no Guaranteed Death Benefit for thi...
Guaranteed Death Benefit to the Younger Insured's Age 100 Your Policy will remain in force until the later of the younger Insured's Attained Age 100, even if the Total Account Value is insufficient to satisfy the current Monthly Deduction, if on each Monthly Deduction Day the sum of all premiums paid equals or exceeds the sum of all Guaranteed Death Benefit to the Younger Insured's Age 100 Premiums for each Policy Month from the Date of Issue, including the current month, plus any Partial Surrenders. If We determine on a Monthly Deduction Day that this condition Page 13 has not been satisfied, the Guaranteed Death Benefit Provision will terminate. You will have 61 days to pay the amount required to keep the Guaranteed Death Benefit to the Younger Insured's Age 100 in force. If the required payment is not made within this time period and it is determined that the condition for the Guaranteed Death Benefit to the Younger Insured's Age 80 has been satisfied, Your Policy will remain in force until the Younger Insured's Attained Age 80. The Guaranteed Death Benefit Provision to the Younger Insured's Age 100 will terminate and the conditions set forth in the Guaranteed Death Benefit to the Younger Insured's Age 80 provision will be applicable. If Guaranteed Death Benefit to the Younger Insured's Age 100 premiums have been paid, but outstanding loans have caused this Policy to enter the Grace Period, this provision will not keep this Policy in force beyond the Grace Period. Your Guaranteed Death Benefit to the Younger Insured's Age 100 premium will continue to be due and payable if the conditions of the Grace Period are met. The Guaranteed Death Benefit to the Younger Insured's Age 100 premium is shown in the Policy Specifications. The Guaranteed Death Benefit to the Younger Insured's Age 100 may not, depending on the Death Benefit Option chosen, be available to all risk classes. Changes to the Guaranteed Death Benefit Once terminated, the Guaranteed Death Benefit to the Younger Insured's Age 80 and the Guaranteed Death Benefit to the Younger Insured's Age 100 provisions cannot be reinstated.
Guaranteed Death Benefit shall have the meaning set forth in the policy form(s) of the Company as specified In Exhibit A.
Guaranteed Death Benefit. The initial Minimum Guaranteed Death Benefit shall be equal to the initial Net Purchase Payment. Additional Net Purchase Payments are added to the Minimum Guaranteed Death Benefit. The Minimum Guaranteed Death Benefit will be adjusted after any Withdrawal by multiplying it by the ratio of the Contract Value after the Withdrawal to the Contract Value before the Withdrawal. The Minimum Guaranteed Death Benefit shall be redetermined on each Eight Year Contract Anniversary by taking the greater of the Contract Value on that Eight Year Contract Anniversary or the previous Minimum Guaranteed Death Benefit. After the Owner's death, the Minimum Guaranteed Death Benefit will be reduced dollar for dollar by any Withdrawals.