Common use of Automatic Payment Options Clause in Contracts

Automatic Payment Options. We may permit you to establish an automatic payment plan providing your bank or other financial institution consents to have your Purchase Payments automatically withdrawn from your account and paid directly to us. We may also permit your employer to remit Purchase Payments on your behalf. PURCHASE PAYMENT LIMITATIONS Total Purchase Payments may not exceed $5,000,000 for the same Owner or Annuitant without our prior consent. No more than $250,000 may be allocated between the General Account and the Guaranteed Term Account without our prior consent. The initial Purchase Payment is shown on page one. Any subsequent Purchase Payments must be at least $500. These minimums may not apply under certain automatic or group payment plans that may be established and agreed to by us. DEDUCTIONS FROM PURCHASE PAYMENTS Generally, there are no deductions made from the Purchase Payments. However, we reserve the right to make a deduction from the Purchase Payments for state premium taxes, where applicable. ALLOCATION OF PURCHASE PAYMENTS ("ALLOCATION OF PURCHASE PAYMENTS") Purchase Payments are allocated to the General Account, Guaranteed Term Account, or the Sub-Accounts of the Variable Account as you direct. You may change your allocation for future Purchase Payments by giving us written notice or by telephone where permitted. Purchase Payments received with incomplete allocation instructions will be returned in full if we cannot credit them within five valuation days after receipt. GENERAL ACCOUNT Purchase Payments allocated to the General Account will be credited interest at an annual rate at least equal to the guaranteed rate shown on page one. At our discretion, we may offer different interest rates if you participate in an automatic investment program. We also reserve the right to credit different interest rates to values transferred to the General Account and to new Purchase Payments.

Automatic Payment Options. We may permit you to establish an automatic payment plan providing your bank or other financial institution consents to have your Purchase Payments automatically withdrawn from your account and paid directly to us. We may also permit your employer to remit Purchase Payments on your behalf. PURCHASE PAYMENT LIMITATIONS Total Purchase Payments may not exceed $5,000,000 for the same Owner or Annuitant without our prior consent. No more than $250,000 may be allocated between the General Account and the Guaranteed Term Account without our prior consent. The initial Purchase Payment is shown on page one. Any subsequent Purchase Payments must be at least $500. These minimums may not apply under certain automatic or group payment plans that may be established and agreed to by us. DEDUCTIONS FROM PURCHASE PAYMENTS Generally, there are no deductions made from the Purchase Payments. However, we reserve the right to make a deduction from the Purchase Payments for state premium taxes, where applicable. ALLOCATION OF PURCHASE PAYMENTS ("ALLOCATION OF PURCHASE PAYMENTSAllocation of Purchase Agreements") Purchase Payments are allocated to the General Account, Guaranteed Term Account, or the Sub-Accounts of the Variable Account as you direct. You may change your allocation for future Purchase Payments by giving us written notice or by telephone where permitted. Purchase Payments received with incomplete allocation instructions will be returned in full if we cannot credit them within five valuation days after receipt. GENERAL ACCOUNT Purchase Payments allocated to the General Account will be credited interest at an annual rate at least equal to the guaranteed rate shown on page one. At our discretion, we may offer different interest rates if you participate in an automatic investment program. We also reserve the right to credit different interest rates to values transferred to the General Account and to new Purchase Payments.