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.
primary beneficiary means a designated beneficiary with a first right to receive any benefit or
Examples of primary beneficiary in a sentence
Primary beneficiary means the first person or class of persons to receive the benefits of the trust.
If the Primary or Contingent status is not indicated, the individual or entity will be considered a Primary beneficiary.
Payment will be made to the Primary beneficiary or beneficiaries who shall survive the Insured, in equal shares, or in specified percentages.
This difference is presented in the financial result because it is mainly attributable to finan- cing activities and not operating activities.
Complete this section only if you, the SIMPLE IRA owner, have your legal residence in a community or marital property state and you wish to name a beneficiary other than or in addition to your spouse as Primary beneficiary.
More Definitions of primary beneficiary
primary beneficiary. NAME: ANNUITY OPTION: Xxxxx Xxx Option 2 -------------------------------------------------------------------------------- FIRST PURCHASE PAYMENT........................... $10,000 MINIMUM SUBSEQUENT PURCHASE PAYMENT.............. $500 ($50 under an automatic investment program) FREE WITHDRAWAL PERCENTAGE....................... 10% GUARANTEED RATE.................................. 3% SEPARATE ACCOUNT................................. Variable Annuity Account VIII MORTALITY AND EXPENSE RISK CHARGE................ 1.25% Annually ADMINISTRATION CHARGE............................ 0.15% Annually ACCOUNT ADMINISTRATION CHARGE.................... $30 Annually* WITHDRAWAL CHARGE Age of Purchase Payment in Years............... 1 2 3 4 5 6 7 8 ------------------------------ Withdrawal Charge.............................. 7% 7% 6% 6% 5% 4% 3% 0% CREDIT ENHANCEMENT Total Purchase Payments Less Withdrawals and Withdrawal Charges Less than $10,000.......................... 0% At least $10,000 but less than $1,000,000.. 4% $1,000,000 or more......................... 5% BASIS OF ANNUITY TABLES.......................... 1983 (a) Mortality Table with mortality improvement under Projection Scale G ASSUMED INTEREST RATE............................ 3.5% annually SUBACCOUNTS:
primary beneficiary. The person(s) designated to receive benefits under a contract upon an Owner’s death. In the event that a Primary Beneficiary predeceases the Owner, unless otherwise elected by you in a written notice received at our Customer Service Office in Good Order, any benefits due to a deceased Primary Beneficiary will be distributed equally among the surviving Primary Beneficiaries. In the event that all Primary Beneficiaries predecease the Owner, proceeds will be paid to the surviving Contingent Beneficiaries. (See Beneficiary and Contingent Beneficiary definitions).
primary beneficiary means the individual for whose primary benefit the trust is then held. For purposes of applying the term “settlor” in the first sentence of this Section 1.21, Xxxxx X. Xxxxxx shall be deemed to be the settlor of the 2012 Xxxxx X. Xxxxxx Trust U/A/D June 22, 2012 (and the separate trusts that may be established thereunder) and Xxxxx X. Xxxxxxxx shall be deemed to be the settlor of the 2012 Xxxxx X. Xxxxxxxx Trust U/A/D June 22, 2012 (and the separate trusts that may be established thereunder). 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.
primary beneficiary has the meaning set forth in ASC Topic 810, Consolidation, as issued and modified from time to time by FASB.
primary beneficiary. Relationship:__________________________________________________________ Contingent Beneficiary (if the Primary is deceased):____________________________ Relationship: _________________________________________________________ Signed at Wilmington, North Carolina, this 17th day of January, 2002. THE INSURED: /s/ Francis Peter Fensel, Jr. ------------------------------------- Francis Peter Fensel, Jr. SPLIT DOLLAR POLICY ENDORSEMENT TO COOPERATIVE BANK FOR SAVINGS SPLIT DOLLAR AGREEMENT Policy No. ZUA386790 Insured: Francis Peter Fensel, Jr. Xxxxxxxxxxxxx xxx xxxxxing the application for insurance to West Coast Life Insurance Company ("Insurer") on September 21, 2001, the applicant requests and directs that: BENEFICIARIES -------------
primary beneficiary refers to a person so designated on the Beneficiary Designation form who becomes entitled to receive the Account Proceeds as a result of the death of the Account Holder.
primary beneficiary means the "individual" as defined in paragraph (B)(3) of this rule.