Death of the Annuitant. On the death of the Annuitant before the Annuity Date, the Owner becomes the new Annuitant, if the Owner is an individual. If there is more than one Owner, the youngest Owner will become the Annuitant. If any Owner is not an individual, the death of an Annuitant will be treated as the death of an Owner and the death benefit will be determined as if the Annuitant were the Owner. If the Annuitant is changed and the Owner is not a natural person, the entire interest in the Contract must be distributed to the Owner within 5 years of the change.
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Samples: Provident Mutual Variable Annuity Separate Account, Provident Mutual Variable Annuity Separate Account, Provident Mutual Variable Annuity Separate Account
Death of the Annuitant. On the death of the Annuitant before the Annuity Date, the Owner becomes the new Annuitant, if the Owner is an individual. If there is more than one Owner, the youngest Youngest Owner will become the Annuitant. If any Owner is not an individual, the death of an Annuitant will be treated as the death of an Owner and the death benefit will be determined as if the Annuitant were the Owner. If the Annuitant is changed and the Owner is not a natural person, the entire interest in the Contract must be distributed to the Owner within 5 years of the change.
Appears in 3 contracts
Samples: Providentmutual Variable Annuity Separate Account, Provident Mutual Variable Annuity Separate Account, Providentmutual Variable Annuity Separate Account
Death of the Annuitant. On the death of the Annuitant before the Annuity Date, the Owner becomes the new Annuitant, if the Owner is an individual. If there is more than one Owner, the youngest Owner will become the Annuitant. If any Owner is not an individual, the death of an Annuitant will be treated as the death of an Owner and the death benefit will be determined as if the Annuitant were the Owner. If the Annuitant is changed and the Owner is not a natural person, the entire interest Interest in the Contract must be distributed to the Owner within 5 years of the change.
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Death of the Annuitant. On the death of the Annuitant before the Annuity Date, the Owner becomes the new Annuitant, Annuitant if the Owner is an individual. If there is more than one Owner, the youngest Owner will become the Annuitant. If any Owner is not an individual, the death of an Annuitant will be treated as the death of an Owner and the death benefit will be determined as if the Annuitant were the Owner. If the Annuitant is changed and the Owner is not a natural person, the entire interest in the Contract must be distributed to the Owner within 5 years of the change.
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Death of the Annuitant. On the death of the Annuitant before the Annuity Date, the Owner becomes the new Annuitant, if the Owner is an individual. If there is more than one Owner, the youngest Owner will become the Annuitant. If any Owner is not an individual, the death of an Annuitant will be treated as the death of an Owner and the death benefit will be determined as if the Annuitant were the Owner. If the Annuitant is changed and the Owner is not a natural person, the entire interest in the Contract must be distributed to the Owner within 5 years of the change.entire
Appears in 1 contract
Death of the Annuitant. On the death of the Annuitant before the Annuity Date, the Owner becomes the new Annuitant, if the Owner is an individual. If there is more than one Owner, the youngest Owner will become the Annuitant. If any Owner is not an individual, the death of an Annuitant will be treated as the death of an Owner and the death benefit will be determined as if the Annuitant were the Owner. If the Annuitant is Annuxxxxx xx changed and the Owner is not a natural person, the entire interest in the Contract must be distributed to the Owner within 5 years of the change.
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