Common use of CONTRACT CAREFULLY Clause in Contracts

CONTRACT CAREFULLY. We reserve the right to amend this contract as needed to maintain its status as an annuity under the Internal Revenue Code. If this contract is so amended we will send you a copy of the amendment, together with the applicable regulation, ruling or other requirement imposed by the Internal Revenue Service which requires such amendment. We will send you a copy of the amendment, together with applicable regulation, ruling or other requirement imposed by the Internal Revenue Service which requires such amendment. MISSTATEMENT OF AGE OR SEX If the Annuitant's birth date or sex has been misstated, the benefits shall be such as would have been provided based on the correct birth date and sex. The amount of any over payments shall be charged against benefits to be paid after we learn of a misstatement. The amount of any under payments accumulated at an annual effective interest rate of 6% shall be added to benefits to be paid after we learn of a misstatement.