Common use of DEATH OF BENEFICIARY Clause in Contracts

DEATH OF BENEFICIARY. If a beneficiary survives me, but dies before receiving his or her entire interest in my Account, his or her remaining interest in my Account shall be paid to any successor beneficiaries designated by the deceased beneficiary in a writing received by and acceptable to Xxxxxx Xxxxx. If the deceased beneficiary has no designated successor beneficiaries, or no successor beneficiaries survive the deceased beneficiary, then Xxxxxx Xxxxx shall distribute the deceased beneficiary’s interest in my Account in the following order and priority: (1) the deceased beneficiary’s surviving spouse; or if none, then (2) the deceased beneficiary’s descendants, per stirpes, as defined under the laws of the State of Missouri; or if none, then (3) the deceased beneficiary’s estate. If any successor beneficiary dies within 120 hours of the death of a designated beneficiary, such successor beneficiary shall not be considered to have survived the designated beneficiary.