ANNUITANT OR JOINT ANNUITANT. The person or persons upon whose life or lives the annuity payments made after the Annuity Commencement Date will be based. ANNUITY COMMENCEMENT DATE -- The Valuation Date on which the Contract Value is withdrawn for payment of annuity benefits under the annuity payment option selected. ANNUITY PAYMENT DATE -- The date on which the Owner is entitled to the first annuity payment. Subsequent annuity payments will be due on the same day of the month as the first annuity payment, at the applicable frequency. Annuity payments cannot commence within 12 months of the Contract Date. ANNUITY UNIT -- A unit of measure used after the Annuity Commencement Date to calculate the amount of a Variable Annuity Payment. BENEFICIARY -- The person or persons or entity designated by the Owner to receive the Death Benefit, if any. CODE -- The Internal Revenue Code of 1986, as amended. CONTINGENT ANNUITANT -- Prior to the Annuity Commencement Date, the individual who will become the Annuitant upon the death of the Annuitant. CONTINGENT DEFERRED SALES CHARGE (CDSC) -- Charges assessed on a surrender of the Contract or a partial withdrawal from the Contract, calculated according to the Contract provisions.
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Samples: Lincoln Life & Annuity Variable Annuity Account H, Lincoln New York Account N for Variable Annuities, Lincoln Life & Annuity Variable Annuity Account H
ANNUITANT OR JOINT ANNUITANT. The person or persons upon whose life or lives the annuity payments made after the Annuity Commencement Date will be based. ANNUITY COMMENCEMENT DATE -- The Valuation Date on which the Contract Value is withdrawn for payment of annuity benefits under the annuity payment option selected. ANNUITY PAYMENT DATE -- The date on which the Owner is entitled to the first annuity payment. Subsequent annuity payments will be due on the same day of the month as the first annuity payment, at the applicable frequency. Annuity payments cannot commence within 12 months of the Contract Date. ANNUITY UNIT -- A unit of measure used after the Annuity Commencement Date to calculate the amount of a Variable Annuity Payment. BENEFICIARY -- The person or persons or entity designated by the Owner to receive the Death Benefit, if any. CODE -- The Internal Revenue Code of 1986, as amended. CONTINGENT ANNUITANT -- Prior to the Annuity Commencement Date, the individual who will become the Annuitant upon the death of the Annuitant. CONTINGENT DEFERRED SALES CHARGE (CDSC) -- Charges assessed on a surrender of the Contract or a partial withdrawal from the Contract, calculated according to the Contract provisions.
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