ANNUITY BENEFITS. The Reinsurer's obligation for Annuity Benefits ---------------- paid by the Ceding Company on annuities reinsured hereunder will be satisfied in full by the payment to the Ceding Company of that portion of the Account Value, as of the date of annuitization, which corresponds to the portion of the annuities reinsured hereunder.
ANNUITY BENEFITS. Benefit Payments = a) - b) + c) + d)
ANNUITY BENEFITS. On or before the Maturity Date, You may elect any one of the annuity payment options as described in Part 10. If you do not select an annuity payment option on or before the Maturity Date, We will apply the Contract Value less any premium tax due to provide You a variable life annuity with 10 years period certain under Annuity Payment Option I as described in Part 10. If the amount to be applied on the Maturity Date is less than $2,000 or would result in monthly payments of less than $20, We shall have the right to pay such amount to You in one lump sum in lieu of providing such annuity. We also have the right to change the annuity payment frequency to annual if the monthly annuity payment would otherwise be less than $20.
ANNUITY BENEFITS. On or before the Contract Maturity Date, you may elect any one of the Annuity Payment Options as described in Section 18. If no election is made, we will begin to pay a series of annuity payments to the Owner beginning on the Contract Maturity Date for a period certain of 10 years and as long thereafter as the Annuitant (or Joint Annuitant, if one is named) is alive. The amount of each annuity payment will be equal to the Contract Value as described in Section 2, less any applicable tax, divided by $1,000 and then multiplied by the applicable annuity payment option rates in effect on the Contract Maturity Date. If the amount to be applied on the Contract Maturity Date would result in monthly payments of less than $20, we may pay such amount to you in one lump sum. We also have the right to change the annuity payment frequency to annual if the monthly annuity payment is less than $20. contract may not be avaiSlaEbCleTiInONyo1u9r:sAtaNteN.UITY PAYMENT OPTIONS This contract is provided for information purposes only. Contract terms and values may vary significantly from this specimen copy based on the state where the contract is issued. This Election of an Annuity Payment Option must be made by written request. We reserve the right to require that the election of an Annuity Payment Option be in the form of a supplementary contract distributed by us reflecting the terms of the Annuity Payment Option elected. We have the right to require proof of Age and sex of any person on whose life payments depend, to the extent permitted by the jurisdiction in which the contract is issued, as well as proof of the continued survival of any such person. You may not change the Annuity Payment Option you elected after the first annuity payment is made. When a Beneficiary elects to apply the death benefit under an available Annuity Payment Option, the term “Annuitant” as used in the description of the Annuity Payment Options is a reference to the Beneficiary. The annuity benefits at the time of their commencement will not be less than those that would be provided by the application of the Cash Surrender Value to purchase a single premium immediate annuity contract at purchase rates offered by us at the time to the same class of annuitants.
ANNUITY BENEFITS. On or before the Maturity Date, You may elect any one of the Payment Options as described in Part 10. If you do not select a Payment Option on or before the Maturity Date, We will apply the Contract Value less any premium tax due to provide You a variable life annuity under Payment Option L as described in Part 10. Any annuity payments falling due after the Annuitant's death during the period certain will be paid to the Annuitant's Beneficiary. If the amount to be applied on the Maturity Date is less than $2,000 or would result in monthly payments of less than $20, We shall have the right to pay such amount to You in one lump sum in lieu of providing such annuity. We also have the right to change the annuity payment frequency to annual if the monthly annuity payment would otherwise be less than $20.
ANNUITY BENEFITS. On or before the Contract Maturity Date, you may elect any one of the Annuity Payment Options as described in Section 18. If no election is made, we may begin to pay a series of annuity payments automatically to the Owner beginning on the Contract Maturity Date of a period certain of 10 years and as long thereafter as the Annuitant lives. The amount of each annuity payment will be equal to the Annuitization Value as described in Section 2, less any applicable tax, divided by $1,000 and then multiplied by the applicable current annuity payment option rates. If the amount to be applied on the Contract Maturity Date would result in monthly payments of less than SAMPLE $20, we shall have the right to pay such amount to you in one lump sum in lieu of providing such annuity. We also have the right to change the annuity payment frequency to annual if the monthly annuity payment would otherwise be less than $20.
ANNUITY BENEFITS. The Reinsurer will pay the Ceding Company that portion of Annuity Benefits paid by the Ceding Company on annuities reinsured hereunder which corresponds to the portion of the annuities reinsured hereunder. The Reinsurer s obligation will be satisfied in full by the payment to the Ceding Company of that portion of the Account Value, as of the date of annuitization, which corresponds to the portion of the annuities reinsured hereunder.
ANNUITY BENEFITS. 1. MONTHLY PAYMENTS: We will pay a monthly life income commencing on the Date of First Payment shown on the Data Pages and thereafter for the remaining lifetime of the Annuitant. If the Annuitant dies before the certain period shown in the Annuity Form on the Data Pages, monthly payments will continue to be made to the Beneficiary until the end of the certain period.
ANNUITY BENEFITS. The title of this Part is changed to "Annuity Benefits and Required Minimum Distributions". Annuity Benefits are also subject to the restrictions described above in the Section, "Restrictions on Withdrawals, Distributions and Payments". The following new Section is added:
ANNUITY BENEFITS. 8. State Premium Taxes
