Standard Death Benefit. If the Employee dies (i) while actively employed by MGE or (ii) after Separation from Service but before commencement of the Income Continuation Amount as calculated under Section 4 of this Agreement, MGE shall pay to the Employee's spouse or designated beneficiary, as set forth below, monthly for 120 months, in an amount determined as follows:
Standard Death Benefit. Unless otherwise provided by a rider to this contract, if the age of the oldest owner at the time the application is signed is 79 or younger, the death benefit is equal to the greater of 1 or 2 where:
Standard Death Benefit. The Standard Death Benefit is the greater of (1) and (2) where:
Standard Death Benefit. If You die prior to the Annuity Payment Date, We will pay a death benefit. No death benefit is payable under this provision after the Annuity Payment Date. No Surrender Charge applies when We pay a death benefit. The amount of the standard death benefit equals the greater of:
Standard Death Benefit. If you are age 76 or older at the Issue Date of your Contract, the standard death benefit is the Account Value. If you are age 75 or younger at the Issue Date of your Contract, the standard death benefit will be the Return of Premium death benefit which is the greater of:
Standard Death Benefit. The Standard Death Benefit on any day is equal to the adjusted sum of premiums determined as follows in chronological order:
Standard Death Benefit. The Death Benefit is the greatest of:
Standard Death Benefit. On the Death Benefit Date but before the Annuitization Date, we will pay in a single sum to the Annuitant’s Beneficiary, unless a Contingent Annuitant has been named, entitled to receive such payment the amount of Standard Death Benefit payable. The amount of the Standard Death Benefit is the greater of:
Standard Death Benefit. If the Owner or any Joint Owner dies prior to the Annuitization Date, We will pay the death benefit upon Our receipt of required documents and Notice including due proof of death. Proof of death includes a certified copy of a death certificate, a certified copy of a court order, a written statement by a medical doctor, or other proof satisfactory to Us. The death benefit will be the accumulated value as of the Valuation Day on which We receive the required documents. The accumulated value will remain invested in the Investment Options until the Valuation Day on which We receive the required documents. If more than one beneficiary is named, each beneficiary's portion of the death benefit will remain invested in the Investment Options until the Valuation Day on which We receive the required documents for that beneficiary. We will pay interest on the death benefit from the first day the accumulated value is no longer invested in the Investment Options until payment is made. We will determine the rate of interest, which will not be less than the interest rate required by the applicable state's law. If the Owner or any Joint Owner dies prior to the Annuitization Date, the death benefit may be distributed in a lump sum or within five years of the date of death or distributed over a time period not extending beyond the life expectancy of the beneficiary as provided for in Internal Revenue Code (“IRC”) section 72(s), as may be amended from time to time. If payments are made over the life expectancy of the beneficiary, they must begin not later than one year after the date of death of the Owner or Joint Owner. If the Owner or Joint Owner dies on or after the Annuitization Date and before the entire interest in this contract has been distributed, the remaining portion of such interest will be distributed at least as rapidly as required under applicable federal tax laws, including, particularly, IRC section 72(s), as may be amended from time to time. Notwithstanding any provision to the contrary in this contract, any payment of death benefits must comply with all applicable laws, including IRC section 72(s), as may be amended from time to time.
Standard Death Benefit. Unless otherwise provided by a rider to this contract, the death benefit is equal to the greatest of 1, 2 and 3, where:
