Common use of CHANGE OF ANNUITANT Clause in Contracts

CHANGE OF ANNUITANT. You may change the Annuitant by Written Notice prior to the Annuity Commencement Date. However, if any Owner is not an individual the Annuitant may not be changed. You may not designate an Annuitant who attains Age {76} on or before the Effective Date or who will attain Age {95} earlier than the Annuity Commencement Date in effect when the change of Annuitant is requested. Payee—The person or persons designated by the Owner to receive the annuity income payments under the Contract. The Annuitant is the Payee unless you designate another party as the Payee. You may change the Payee at any time.

CHANGE OF ANNUITANT. You may change the Annuitant by Written Notice prior to the Annuity Commencement Date. However, if any Owner is not an individual the Annuitant may not be changed. You may not designate an Annuitant who attains attained Age {76} 86 on or before the Effective Date or who will attain Age {95} 95 earlier than the Annuity Commencement Date in effect when the change of Annuitant is requested. Payee—Payee - The person or persons designated by the Owner to receive the annuity income payments under the Contract. The Annuitant is the Payee unless you designate another party as the Payee. You may change the Payee at any time.