Common use of Commission Chargebacks Clause in Contracts

Commission Chargebacks. Commission chargebacks will apply - In the event of death of the annuitant, for terms that extend past age 90, excluding individual terms within RRIF contracts with deposit dates before January 1, 2003 and MLIA GIA's with a deposit date prior to November 14, 2005. - If the annuitant dies within 90 days of the contract being issued Term Exceeds Annuitants 90th birthday The number of days between the term Commission paid and Recognition Credits earned will be proportionally reduced by any advisor rate discretion offered Rate Discretion is not available for terms greater than 10 years. Total Paid maturity date and X the later of date of death or annuitant’s 90th birthday Rate discretion is not available for the Daily Interest Account or the Market Growth Account Total number of days in original GIA term Annuitant dies within 90 days of the contract being issued Total Paid