DEATH OF BENEFICIARY definition

DEATH OF BENEFICIARY. If no named beneficiary is living at the time a death benefit becomes payable we will pay the death benefit to Your estate.
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DEATH OF BENEFICIARY. If no named Beneficiary is living at the time a death benefit becomes payable, We will pay the death benefit to the Owner, or, if no Owner is alive, to the last surviving Owner's estate. CHANGE OF BENEFICIARY - To change a Beneficiary, a Written Request for a change of Beneficiary must be received at Our Administrative Office. If the request is received at Our Administrative Office after the death of the Owner, it will be effective only if no payment has been made. After the change is recorded, it will take effect as of the date the request was signed. ================================================================================ PREMIUM PROVISIONS PREMIUM - The Initial Premium is due on or before the Effective Date. Thereafter, Premium payments may be made at any time prior to the Annuity Date, in an amount equal to or greater than the Minimum Subsequent Premium amount, shown on the Contract Schedule page. ALLOCATION OF premium PAYMENTS - Premiums may be allocated to one or more of the Subaccounts of the Variable Account or to the Guaranteed Account. Whole percentages must be used. The allocation of the Initial Premium is shown on the application. You may change the allocation at any time. We will send confirmation of Your changes. Any subsequent Premium received will be allocated in accordance with the most recently received allocation instructions. ================================================================================ CONTRACT CHARGES All charges and fees shown on the Contract Schedule are the maximum amounts which We may charge. We may, however, charge less than the maximum. MORTALITY AND EXPENSE RISK CHARGE - We deduct a Mortality And Expense Risk Charge equal, on an annual basis, to the amount shown on the Contract Schedule. We guarantee that the dollar amount of each annuity payment after the first will not be affected by variations in mortality or expense experience. ADMINISTRATIVE CHARGE - We deduct an Administrative Charge equal, on an annual basis, to the amount shown on the Contract Schedule. The Administrative Charge compensates Us for some of the costs associated with the administration of this contract and the Variable Account.
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DEATH OF BENEFICIARY. If no named Beneficiary is living at the time a Death Benefit becomes payable, We will pay the Death Benefit to the Owner, or, if no Owner is alive, to the last surviving Owner's estate. CHANGE OF BENEFICIARY - To change a Beneficiary, a Written Request for a change of Beneficiary must be received at Our Administrative Office. If the request is received at Our Administrative Office after the death of the Owner, it will be effective only if no payment has been made. After the change is recorded, it will take effect as of the date the request was signed. PREMIUM PROVISIONS PREMIUM - The Initial Premium is due on or before the Effective Date. Thereafter, Premium payments may be made at any time prior to the Annuity Date, in an amount equal to or greater than the Minimum Subsequent Premium amount, shown on the Contract Schedule. ALLOCATION OF PREMIUM PAYMENTS - Premiums may be allocated to one or more of the Subaccounts of the Variable Account or to the Guaranteed Account. Whole percentages must be used. The allocation of the Initial Premium is shown on the application. You may change the allocation at any time. We will send confirmation of Your changes. Any subsequent Premium received will be allocated in accordance with the most recently received allocation instructions.
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Examples of DEATH OF BENEFICIARY in a sentence

  • DEATH OF BENEFICIARY - If no named Beneficiary is living at the time a Death Benefit becomes payable, We will pay the Death Benefit to the Owner, or, if no Owner is alive, to the last surviving Owner's estate.

  • DEATH OF BENEFICIARY The interest of a beneficiary who dies before the distribution of the death benefit will pass to the other beneficiaries, if any, share and share alike, unless otherwise provided in the beneficiary designation.

  • DEATH OF BENEFICIARY Unless otherwise provided in the Beneficiary designation, one of the procedures described below will take place on the death of a beneficiary.

  • DEATH OF BENEFICIARY - If no named beneficiary is living at the time a death benefit becomes payable we will pay the death benefit to Your estate.

  • OWNERSHIP AND BENEFICIARY (CONTINUED) DEATH OF BENEFICIARY If any named Beneficiary dies before the Insured, that person's interest in this Policy ends, unless such Beneficiary has been named as an irrevocable Beneficiary.

  • DEATH OF BENEFICIARY If any named Beneficiary dies before the Last Surviving Insured, that person's interest in this Policy ends, unless such Beneficiary has been named as an irrevocable Beneficiary.

  • OWNERSHIP AND DEATH OF BENEFICIARY BENEFICIARY If any named Beneficiary dies before the Last Surviving Insured, that (CONTINUED) person's interest in this Policy ends, unless such Beneficiary has been named as an irrevocable Beneficiary.

  • DEATH OF BENEFICIARY - The interest of a beneficiary who dies before the distribution of the death benefit will pass to the other beneficiaries, if any, share and share alike, unless otherwise provided in the beneficiary designation.

  • CLARIFICATION OF ELIGIBLE RECIPIENTS OF CERTAIN ACCRUED BENEFITS UPON DEATH OF BENEFICIARY.

  • DEATH OF BENEFICIARY The interest of a beneficiary who dies before the Surviving Insured will pass to the other beneficiaries, if any, share and share alike, unless otherwise provided in the beneficiary designation.


More Definitions of DEATH OF BENEFICIARY

DEATH OF BENEFICIARY. If no named Beneficiary is living at the time a Death Benefit becomes payable, We will pay the Death Benefit to the Owner, or, if no Owner is alive, to the last surviving Owner's estate. CHANGE OF BENEFICIARY - To change a Beneficiary, a Written Request for a change of Beneficiary must be received at Our Administrative Office. If the request is received at Our Administrative Office after the death of the Owner, it will be effective only if no payment has been made. After the change is recorded, it will take effect as of the date the request was signed.
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Related to DEATH OF BENEFICIARY

  • Income beneficiary means a person to whom net income of a trust is or may be payable.

  • Contingent Beneficiary is the person that becomes the Beneficiary if the named Beneficiary dies prior to the Income Date.

  • primary beneficiary means the individual for whose primary benefit the trust is then held. For purposes of Section 8.3, a Qualified Entity is a member of each Family Group to which such one or more Qualified Trusts that are its equity holders belong.

  • Qualified beneficiary means a beneficiary who, on the date the beneficiary's qualification is determined:

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • Designated Beneficiary means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or becomes incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s estate.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Beneficiary(ies means the beneficiary(ies) designated by the Participant who are entitled to receive any distributions from the Plan payable upon the death of the Participant.

  • Beneficiary means each designated person, or the estate of the deceased Executive, entitled to benefits, if any, upon the death of the Executive, determined according to Article 4.

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • Joint Annuitant means the individual specified as such in the Data Pages. The Joint Annuitant must be the spouse of the Annuitant on the Contract Date.

  • Disability Benefit means the benefit set forth in Article 8.

  • Former Spouse means the individual who is considered by Applicable Laws to be the Annuitant’s former spouse or common-law partner;

  • Assignment of Benefits means an arrangement whereby the Plan Participant assigns their right to seek and receive payment of eligible Plan benefits, in strict accordance with the terms of this Plan Document, to a Provider. If a provider accepts said arrangement, Providers’ rights to receive Plan benefits are equal to those of a Plan Participant, and are limited by the terms of this Plan Document. A Provider that accepts this arrangement indicates acceptance of an “Assignment of Benefits” as consideration in full for services, supplies, and/or treatment rendered.

  • Beneficiary Designation Form means the form established from time to time by the Plan Administrator that the Executive completes, signs, and returns to the Plan Administrator to designate one or more Beneficiaries.

  • Surviving beneficiary or “surviving descendant” means a beneficiary or a descendant who did not predecease the decedent and is not considered to have predeceased the decedent under section 2702.

  • Spouse means, an individual who,

  • Third Party Beneficiary means each of the non-NHS bodies set out in the list attached at Schedule 1, as supplied from time to time by the Authority to the Contractor;

  • Beneficiary designation means the naming in a governing instrument of a beneficiary of an insurance or annuity policy, of an account with POD designation, of a security registered in beneficiary form (TOD), of a pension, profit-sharing, retirement, or similar benefit plan, or of another nonprobate transfer at death.

  • Alternate Payee means any spouse, former spouse, child, or other dependent of a Participant who is recognized by a qualified domestic relations order as having a right to receive all, or a portion of, the benefits payable under a Plan with respect to such Participant.

  • Initial Beneficiary means ALF LLC, as initial beneficiary under the Titling Trust Agreement and its permitted successors and assigns.

  • Schedule of Benefits means the section of this policy which shows, among other things, the Eligibility Requirements, Eligibility Waiting Period, Elimination Period, Amount of Insurance, Minimum Benefit, and Maximum Benefit Period.