THE PAYEE. The Owner may name more than one ▇▇▇▇▇. Multiple Payees will share equally, unless otherwise designated. If no Payee is designated on the Application, the Annuitant will be the Payee. If a Payee dies while receiving Income Payments, the Company will make any required Income Payments to the Owner or the successor Owner as set forth in the Rights of Succession section, pending instructions to make payments to a new Payee. In no event will any Payee who is not also an Owner have any ownership rights under this Contract. ================================================================================ SECTION 3: INCOME PAYMENTS ================================================================================
Appears in 2 contracts
Sources: Immediate Variable Annuity Contract (Agl Separate Account D), Immediate Variable Annuity Contract (Usl Separate Account Usl Va-R)