Variable death benefit definition

Variable death benefit means the amount of the death benefit, other than incidental insurance benefits, payable under a variable life insurance policy dependent on the investment performance of the separate account, which the insurer would have to pay in the absence of any minimum death benefit.
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Variable death benefit means the amount of the death benefit, other than
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Examples of Variable death benefit in a sentence

  • The Variable death benefit is the greater of: (1) the Variable purchase payments, net of Variable Account transfers and less the total amount of any partial withdrawals from the Variable Account; or (2) the Variable Account Value at the date of receipt of due proof of death and the necessary forms to make payment to a beneficiary.

  • DEATH BENEFIT (CONTINUED) The Variable death benefit is the greater of: (1) the Variable purchase payments, net of Variable Account transfers and less the total amount of any partial withdrawals from the Variable Account; or (2) the Variable Account Value at the date of receipt of due proof of death and the necessary forms to make payment to a beneficiary.

  • Variable death benefit means the amount of the death benefit, other than incidental insurance benefits, payable under a variable life insurance policy, dependent on the investment experience of the separate account, and, at the option of the insurer, dependent upon the charging of more favorable mortality and expense charges, if any, than as guaranteed in the contract, which the insurer would have to pay in the absence of any minimum death benefit.

Related to Variable death benefit

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Annuity means a stated sum payable periodically at stated times during life or during a specified or ascertainable period of time under an obligation to make the payments in return for adequate and full consideration in money or money's worth.

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