Death of Owner During the Accumulation Period. During the Accumulation Period, the death benefit will be paid to your Beneficiary(ies) upon your death or the first death of a Joint Owner. If the Contract is owned by a non-natural person, the Annuitant will be deemed the Owner for purposes of determining the death benefit.
Death of Owner During the Accumulation Period. Upon your death or the death of any joint owner during the accumulation period, the death benefit will be paid to the beneficiary(ies) you designated who will be treated as a new owner. Upon death of a joint owner, the surviving joint owner, if any, will be treated as the primary beneficiary. Any other beneficiary designation on record at the time of death will be treated as a contingent beneficiary.
Death of Owner During the Accumulation Period. Upon the death of the Owner, or any Joint Owner, during the Accumulation Period, the death benefit will be paid to the Beneficiary(ies) designated by the Owner. If there are multiple Beneficiaries, the first Beneficiary will be paid his share of any proceeds once his Authorized Request is received. The remaining death benefit proceeds will remain invested in the Investment Portfolios in accordance with the allocation instructions given by the Owner until the death benefit is paid or until new instructions are given by the beneficiary. Upon the death of any Joint Owner, the surviving Joint Owner, if any, will be treated as the Primary Beneficiary. Any other Beneficiary designation on record at the time of death will be treated as a contingent Beneficiary. Unless restricted by Owner, a Beneficiary may request that the death benefit be paid under one of the Death Benefit Options below. If the Beneficiary is the spouse of the Owner, he or she may elect to continue the Contract at the then current Contract Value in his or her own name and exercise all the Owner's rights under the Contract.
Death of Owner During the Accumulation Period. Upon the death of any Owner, during the Accumulation Period, the death benefit will be paid to the Beneficiary(ies). Upon the death of any Joint Owner, the surviving Joint Owner(s), if any, will be treated as the primary Beneficiary(ies). Any other Beneficiary designation on record at the time of death will be treated as a contingent Beneficiary. A Beneficiary may request that the death benefit be paid under one of the Death Benefit Options below. If the Beneficiary is the spouse of the Owner he or she may elect to continue the Contract at the then current Contract Value in his or her own name and exercise all the Owner's rights under the Contract.
