Only one Death Benefit definition

Only one Death Benefit is payable under this Contract. In all events, distributions under the Contract must be made as required by applicable law. GA-IA-1082 16 YOUR CONTRACT BENEFITS (continued) ------------------------------------------------------------------------------- How to Claim Payments to Beneficiary We must receive proof of the Owner's (or the Annuitant's) death before we will make any payments to the Beneficiary. We will calculate the Death Benefit as of the date we receive due proof of death. The Beneficiary should contact our Customer Service Center for instructions. GA-IA-1082 17 CHOOSING AN INCOME PLAN ------------------------------------------------------------------------------- ANNUITY BENEFITS If the Annuitant and Owner are living on the Annuity Commencement Date, we will begin making payments to the Owner. We will make these payments under the Annuity Option (or Options) as chosen in the application or as subsequently selected. You may choose or change an Annuity Option by making a written request at least 30 days prior to the Annuity Commencement Date. Unless you have chosen otherwise, Option 2 on a 10-year period certain basis will become effective. The amounts of the payments will be determined by applying the Accumulation Value on the Annuity Commencement Date in accordance with the Annuity Options section below (see Payments We May Defer). Before we pay any Annuity Benefits, we require the return of this Contract. If this Contract has been lost, we require the applicable lost Contract form.
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Only one Death Benefit is payable under this Contract. In all events, distributions under the Contract must be made as required by applicable law Spousal Continuation upon Death of Owner If at the Owner's death, the surviving spouse of the deceased Owner is the Beneficiary, then such surviving spouse may elect to continue the Contract as their own, pursuant to Internal Revenue Code Section 72(s) or the equivalent provisions of the U.S. Treasury Department rules for Qualified Plans. How to Claim Payments to Beneficiary We must receive proof of the Owner's (or the Annuitant's) death before we will make any payments to the Beneficiary. We will calculate the Death Benefit as of the date we receive due proof of death. The Beneficiary should contact our Customer Service Center for instructions. IU-IA-3010 16 CHOOSING AN INCOME PLAN -------------------------------------------------------------------------------- ANNUITY BENEFITS If you and the Annuitant are living on the Annuity Commencement Date, we will begin making payments to you. We will make these payments under the Annuity Option (or Options) elected by you. You may elect to apply any portion of the Accumulation Value (minus any applicable premium tax) to any Annuity Option by making a written request at least 30 days prior to the Annuity Commencement Date. If no Annuity Option has been elected by the Required Annuity Commencement Date shown below, payments will be made under Option 2 on a 10-year Period Certain basis. The amount of the payments will be determined by applying the Contract's Accumulation Value adjusted by a Market Value Adjustment, if applicable, on the Annuity Commencement Date in accordance with The Annuity Options section below (see "Payments We May Defer"). A Market Value Adjustment may apply if the Annuity Commencement Date is other than on, or during the 30-day period immediately following, the Maturity Date of a Guarantee Period. Any Surrender Charges otherwise applicable will be waived. For each Option we will issue a separate written agreement putting the Option into effect.
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Only one Death Benefit is payable under this Contract, even though the Contract may, in some circumstances, continue beyond the time of an Owner's death. The Death Benefit may be taken in one sum immediately and the Contract will terminate. If the Death Benefit is not taken immediately as a lump sum, then the entire interest in the Contract must be distributed under one of the following options:
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Examples of Only one Death Benefit in a sentence

  • Only one Death Benefit will be paid with respect to your participation interest under the Contract.

  • 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. Only one Death Benefit is payable under this Contract.

  • Only one Death Benefit is payable under this Contract, even though the Contract may continue beyond an Owner’s death.

  • Only one Death Benefit is payable with respect to a Participant's participation interest under this Contract.

  • This included the putting up of the bunting intended for VE day to mark the reopening of Fore Street.

  • Only one Death Benefit is payable under this Contract, even though the Contract may continue beyond an Owner's death.

  • If any Owner (or, if the Owner is not a natural person, any Annuitant) dies before the Annuity Commencement Date, the Death Benefit is payable to the Beneficiary as determined under Section 3.4. Only one Death Benefit is payable under this Contract.

  • Only one Death Benefit is payable under each Certificate, even though a Certificate may continue beyond a Participant’s death.

  • Only one Death Benefit is payable.FPIL means Friends Provident International Limited.


More Definitions of Only one Death Benefit

Only one Death Benefit is payable under this Contract. In all events, distributions under the Contract must be made as required by applicable law. How to Claim Payments to Beneficiary We must receive proof of the Owner's (or the Annuitant's) death before we will make any payments to the Beneficiary. We will calculate the Death Benefit as of the date we receive due proof of death. The Beneficiary should contact our Customer Service Center for instructions. 18 GA-IA-1112 BENEFIT OPTION PACKAGES -------------------------------------------------------------------------------- This Contract offers three Benefit Option Packages. The Option Package you elect is shown in the Schedule. ELECTION OF BENEFIT OPTION PACKAGES On any Contract Anniversary prior to and including the date you reach Attained Age 80, you may elect to replace the Benefit Option Package in effect with another Benefit Option Package provided you are the sole Owner and you and the Annuitant meet the eligibility criteria stated below. Such election must be received by us in writing at our Customer Service Center on or during the sixty day period immediately preceding the Contract Anniversary. The effective date of the newly elected Benefit Option Package will be the Contract Anniversary at the end of the sixty day election period. We will issue another Schedule reflecting the new Benefit Option Package Chosen. This new Schedule will reflect the new Schedule Date and the revised Charges, if any, for the Benefit Option Package elected.
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Only one Death Benefit is payable under each Certificate. In all events, distributions under a Certificate must be made as required by applicable law. How to Claim Payments to Beneficiary We must receive proof of the Owner's (or the Annuitant's) death before we will make any payments to the Beneficiary. We will calculate the Death Benefit as of the date we receive due proof of death. The Beneficiary should contact our Customer Service Center for instructions GA-MA-1112 19 BENEFIT OPTION PACKAGES -------------------------------------------------------------------------------- The Contract offers three Benefit Option Packages. The Option Package elected is shown in each Certificate. ELECTION OF BENEFIT OPTION PACKAGES On any Certificate Anniversary prior to and including the date the Certificate Owner reaches Attained Age 80, the Certificate Owner may elect to replace the Benefit Option Package in effect with another Benefit Option Package provided there are no Joint Certificate Owners and the Certificate Owner and the Annuitant meet the eligibility criteria stated below. Such election must be received by us in writing at our Customer Service Center on or during the sixty day period immediately preceding the Certificate Anniversary. The effective date of the newly elected Benefit Option Package will be the Certificate Anniversary at the end of the sixty day election period. We will issue another Certificate Schedule reflecting the new Benefit Option Package Chosen. This new Schedule will reflect the new Schedule Date and the revised Charges, if any, for the Benefit Option Package elected.
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Only one Death Benefit is payable under each Certificate. The Death Benefit may be taken in one sum immediately and the Certificate will terminate. If the Death Benefit is not taken immediately as a lump sum, then the entire interest in the Certificate must be distributed under one of the following options:
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Related to Only one Death Benefit

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Qualified Preretirement Survivor Annuity means an annuity which is payable for the life of the Participant's surviving spouse.

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Termination Benefit means the benefit set forth in Article 7.

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Disability Benefit means the benefit set forth in Article 8.

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Retirement Benefit means the benefit set forth in Article 5.

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Annuity Benefit means a benefit payable by us as described in Part VII.

  • Qualifying Retirement means the Employee’s voluntary termination of employment after the Employee has (i) attained (X) age sixty-five (65), (Y) age fifty-five (55) with ten (10) Years of Service as a full-time employee of the Partnership or any of its Affiliates, or (Z) an age which, when added to such Years of Service of the Employee equals at least seventy-five (75), and (ii) previously delivered a written notice of retirement to the Partnership and on the date of retirement the Employee has satisfied the minimum applicable advance written notice requirement set forth below: Age at Voluntary Termination Number of Years of Advance Notice 58 or younger 59 60 or older 3 years 2 years 1 year By way of illustration, and without limiting the foregoing, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee later terminates employment at age fifty-nine (59), then the Employee’s retirement at age fifty-nine (59) would not constitute a Qualifying Retirement. However, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee terminates employment upon reaching age sixty (60), then the Employee’s retirement at age sixty (60) would constitute a Qualifying Retirement.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Disability retirement for plan 1 members, means the period

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • Change in Control Benefit means the benefit described in Section 2.4.

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • Earliest Retirement Age means the earliest date on which, under the Plan, the Participant could elect to receive retirement benefits.

  • Last Monthly Benefit means the gross Monthly Benefit payable to the Insured Employee immediately prior to death. Any reductions for Other Income Benefits, or for earnings the Insured Employee received for Partial Disability Employment, will not apply.

  • retirement annuity contract means a contract or scheme approved under Chapter III of Part XIV of the Income and Corporation Taxes Act 1988;

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • Regular benefits ’ means benefits payable to an individual under this act or under any other state law, including benefits payable to federal civilian employees and to ex-servicemen pursuant to 5 U.S.C. chapter 85, other than extended benefits.

  • Disability benefit recipient means a member who is receiving a disability benefit.

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.