Annuity Purchase Rates Sample Clauses

Annuity Purchase Rates. 13 CONTRACT DATA PAGE ANNUITANT: John ▇▇▇▇▇ ▇▇NTRACT NUMBER: 000 CONTRACT OWNER: John ▇▇▇▇▇ ▇▇FECTIVE DATE: April 1, 1984 INCOME DATE: January 1, 2012 CONTRACT MAINTENANCE CHARGE: Guaranteed never to exceed $30 each year unless changed.* *Prior to the Income Date, the Contract Maintenance Charge is not guaranteed and may be changed for future years. After the Income Date, the amount of the Contract Maintenance Charge will not be changed from the amount of the annual maintenance charge in effect during the Contract year immediately preceding the Income Date. After the Income Date, the Contract Maintenance Charge will be collected on a monthly basis.

Annuity Purchase Rates. 13 [SENTRY LOGO] ANNUITANT: MARK ▇▇▇▇▇▇ ▇▇NTRACT NUMBER: 379723871 CONTRACT OWNER: MARK ▇▇▇▇▇▇ ▇▇FECTIVE DATE: 12/27/1996 INCOME DATE: 10/01/2017 CONTRACT MAINTENANCE CHARGE: $30 EACH YEAR UNLESS CHANGED.* GUARANTEED NEVER TO EXCEED $45 PER YEAR. *PRIOR TO THE INCOME DATE, THE CONTRACT MAINTENANCE CHARGE IS NOT GUARANTEED AND MAY BE CHANGED FOR FUTURE YEARS. AFTER THE INCOME DATE, THE AMOUNT OF THE CONTRACT MAINTENANCE CHARGE WILL NOT BE CHANGED FROM THE AMOUNT OF THE ANNUAL MAINTENANCE CHARGE IN EFFECT DURING THE CONTRACT YEAR IMMEDIATELY PRECEDING THE INCOME DATE. AFTER THE INCOME DATE, THE CONTRACT MAINTENANCE CHARGE WILL BE COLLECTED ON A MONTHLY BASIS. MORTALITY AND EXPENSE RISK PREMIUM: EQUAL ON AN ANNUAL BASIS TO 1.2% OF THE DAILY NET ASSET VALUE OF THE VARIABLE ACCOUNT. TRANSFER FEE: $0 PER TRANSACTION. THIS TRANSFER FEE IS NOT GUARANTEED AND MAY BE CHANGED AT ANY TIME. HOWEVER, IT WILL NEVER EXCEED $20. ELIGIBLE MUTUAL FUNDS: NEUB▇▇▇▇▇ ▇▇▇ BERM▇▇ ▇▇▇ISERS MANAGEMENT TRUST - GROWTH PORTFOLIO - LIMITED MATURITY BOND PORTFOLIO - LIQUID ASSET PORTFOLIO - BALANCED PORTFOLIO VARIABLE ACCOUNT: SENTRY VARIABLE ACCOUNT I ANNUITY SERVICE OFFICE: P.O. BOX 4792, SYRACUSE, NEW YORK 13221 FOR DETERMINATION OF VARIABLE BENEFITS PLEASE SEE THE VARIABLE ACCOUNT PROVISIONS, PAGE 5, AND THE VARIABLE ANNUITY PROVISION, PAGE 8. FOR USE WITH SENTRY VARIABLE ACCOUNT I A SEPARATE INVESTMENT ACCOUNT OF SENTRY LIFE INSURANCE COMPANY OF NEW YORK

Annuity Purchase Rates. The first payment under an Annuity Option for each $1,000 of Annuity Value applied will be the greater of: (a) the rate per $1,000 of Annuity Value applied specified in the Company's published Non-Guaranteed Current Annuity Option rates applicable to this class of contracts; or (b) the rate set forth in Part XII of the contract for the applicable Annuity Option. The premium rates set forth in Part XII for annuities involving a life contingency are equal to 102% of the premium rates calculated using the 1983 Group Annuity Mortality Table with Projection H (ages set back four years) assuming calendar year of birth of 1930, and with interest at 5% per annum. The premium rates set forth in Part XII for Option V are equal to 102% of the premium rates calculated using 5% interest per annum if the period certain is for 10 years or longer; 4% if the period certain is at least 5 years but less than 10 years; and 3% if the period certain is less than 5 years.

Annuity Purchase Rates. 00 ALPHABETICAL CODE

Annuity Purchase Rates. 13 Section.................................................................... 3.04

Annuity Purchase Rates. In ▇▇▇▇▇▇ Trust, the Court required a mechanism to convert the accumulation funds into guaranteed benefits at retirement at rates set by the contract. According to the Court, without a "guarantee regarding conversion price, plan participants are undeniably at risk…” The minimum annuity purchase rates constitute the kind of conversion mechanism contemplated by ▇▇▇▇▇▇ Trust. These principles have also been applied to life insurance contracts with cash values. Before Rule 151, SEC Release 6051 provided that insurance contracts had to assume mortality risk to qualify for the §3(a)(8) exemption, (e.g., through long term guaranteed annuity purchase rates). Such rates were prohibited from being significantly lower than the rates available "commercially;" otherwise the insurer would not be considered to have assumed sufficient risk. Release 6051 allowed contracts to offer alternative settlement options, including lump sum payout or current-rate-if-better options. For group annuity contracts, a five-year annuity purchase rate was deemed generally sufficient. In contrast to ▇▇▇▇▇▇ Trust and Release 6051, the SEC determined not to include any kind of mortality risk requirement (such as annuity purchase rates) in Rule 151. However, the agency indicated that it was not concluding that "consideration of mortality risk has no place in a (sec)3(a)(8) analysis outside of the safe harbor."

Annuity Purchase Rates. The first payment under an Annuity Option for each $1,000 of Annuity Value applied will be the greater of: (a) the rate per $1,000 of Annuity Value applied specified in the Company's published Non-Guaranteed Current Annuity Option rates applicable to the Contract; or (b) the rate set forth in Part XII of this Certificate for the applicable Annuity Option.