Interest on Death Benefit Proceeds Sample Clauses

Interest on Death Benefit Proceeds. If payment of death benefit proceeds is unduly delayed after the Notice Date, we will pay interest on the death benefit proceeds. Interest will be paid at a rate of not less than 3% per year from the Notice Date until such proceeds are paid or applied under an Annuity Option. If the insurance laws of the state in which the Contract is delivered requires payment of a greater amount, we will pay that amount.
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Interest on Death Benefit Proceeds. We will pay interest on the death benefit proceeds. Interest will be paid at a rate of not less than 3% per year from the date of death until such proceeds are paid or applied under an Annuity Option.
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Interest on Death Benefit Proceeds. Interest on Death Benefit Proceeds is payable from the date of death at the rate applicable to proceeds of life insurance left on deposit with the Company. Additional interest at an annual rate of 10% will be paid beginning on the 31st calendar day from the latest of the following, to the date the Proceeds are paid:
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Interest on Death Benefit Proceeds. If proceeds are not paid in one sum or applied under an Annuity Option within 30 days after we receive due proof of the death of the Annuitant or an Owner before the Annuity Date, we will pay interest on the proceeds. Interest will be paid at the rate of 3% a year from the date we receive due proof of death until the proceeds are paid or applied under an Annuity Option. If the law in the state in which you live on the Contract Date requires payment of a greater amount, we will pay that amount.
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Interest on Death Benefit Proceeds. If the death benefit is not paid within seven Days of receipt of due proof of death, interest shall accrue and be payable from the eighth Day following the date that due proof of death is received by Us. Interest shall accrue at the rate or rates applicable to the contract for funds left on deposit with Us. If the death benefit is not paid within 30 Days of receipt of due proof of death, We will pay additional interest at a rate of 10% annually beginning on the 31st Day.
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Interest on Death Benefit Proceeds. 22 BENEFICIARY..................................................... 23 Add or Changing Your Beneficiary............................. 23
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Interest on Death Benefit Proceeds. Any interest on death proceeds will be paid in accordance with rules in effect in Your state at the time of death.
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Interest on Death Benefit Proceeds. 22 BENEFICIARY........................................ 22
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Related to Interest on Death Benefit Proceeds

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • Death Benefit Amount The Death Benefit Amount as of any Business Day prior to the Annuity Date is equal to the greater of:

  • Pre-Retirement Death Benefit 4.1 (a) Normal form of payment. If (i) the Director dies while employed by the Bank, and (ii) the Director has not made a Timely Election to receive a lump sum benefit, this Subsection 4.1(a) shall be controlling with respect to pre-retirement death benefits. The balance of the Director=s Retirement Income Trust Fund, measured as of the later of (i) the Director=s death, or (ii) the date any final lump sum Contribution is made pursuant to Subsection 2.1(b), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable for the Payout Period. Such benefits shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is less than the rate of return used to annuitize the Retirement Income Trust Fund, no additional contributions to the Retirement Income Trust Fund shall be required by the Bank in order to fund the final benefit payment(s) and make up for any shortage attributable to the less-than-expected rate of return. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is greater than the rate of return used to annuitize the Retirement Income Trust Fund, the final benefit payment to the Director=s Beneficiary shall distribute the excess amounts attributable to the greater-than-expected rate of return. The Director=s Beneficiary may request to receive the unpaid balance of the Director=s Retirement Income Trust Fund in a lump sum payment. If a lump sum payment is requested by the Beneficiary, payment of the balance of the Retirement Income Trust Fund in such lump sum form shall be made only if the Director=s Beneficiary notifies both the Administrator and trustee in writing of such election within ninety (90) days of the Director=s death. Such lump sum payment shall be made within thirty (30) days of such notice. The Director=s Accrued Benefit Account (if applicable), measured as of the later of (i) the Director's death or (ii) the date any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account pursuant to Subsection 2.1(c), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable to the Director's Beneficiary for the Payout Period. Such benefit payments shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death, or if later, within thirty (30) days after any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account in accordance with Subsection 2.1(c).

  • No Interest on Contributions No Partner shall be entitled to interest on its Capital Contribution.

  • Pre-Retirement Death Benefits Should the Director die while --------- ----------------------------- serving as a director of the Bank and prior to the Qualifying Date, the Bank will pay $671 per month for a continuous period of 120 months to the Beneficiary or Beneficiaries of the Director. The first such monthly installment payment shall be made on a date to be determined by the Bank, but in no event later than the first day of the sixth calendar month following the calendar month in which the Director died. In the event of the death of the last living Beneficiary before all installment payments shall have been made, the balance of any payments which remain unpaid at the time of such Beneficiary's death shall be commuted on the basis of eight percent (8%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of any such beneficiary designation, or if no Beneficiary survives the Director, any payments remaining unpaid at the Director's death shall be commuted on the basis of eight percent (8%) per annum compounded interest and shall be paid in a single sum to the Director's estate.

  • No Interest on Capital Contributions The Member shall not be entitled to interest on any capital contributions made to the Company.

  • Interest on Capital Contributions No Member shall be entitled to any interest on its capital contribution.

  • Death Benefits Upon the Executive's death during the Contract Period, his estate shall not be entitled to any further benefits under this Agreement.

  • No Interest on Capital No Partner shall be entitled to interest on its Capital Contributions or its Capital Account.

  • Interest on Payments Any payment by the Receiver pursuant to Section 2.6(d) shall be made together with interest on the amount thereof that accrues with effect from five (5) Business Days after the date on which payment was agreed or determined to be due until such amount is paid. The annual interest rate shall be determined by the Receiver based on the coupon equivalent of the three (3)-month U.S. Treasury Xxxx Rate in effect as of the first Business Day of each Calendar Quarter during which such interest accrues as reported in the Federal Reserve Board Statistical Release for Selected Interest Rates H.15 opposite the caption “Treasury bills (secondary market), 3-Month” or, if not so reported for such day, for the next preceding Business Day for which such rate was so reported.

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