Common use of BENEFIT BEFORE THE INCOME DATE Clause in Contracts

BENEFIT BEFORE THE INCOME DATE. The death benefit before the Income Date is equal to the Contract Value. The Company will calculate the death benefit at the end of the Business Day on which the Company receives the first request for payment with Due Proof of death, an election identifying the death benefit option and state required forms, if any, in Good Order at the Company's Service Center. A Beneficiary entitled to the death benefit bears the investment risk associated with amounts allocated to any Investment Division until the Company calculates the death benefit. After the death benefit has been calculated, each Beneficiary will receive their portion of the remaining value, subject to market fluctuations, when the Company receives their death benefit option election form and any applicable state required forms, in Good Order at the Company's Service Center.