Common use of Life Income Plans Clause in Contracts

Life Income Plans. An optional mode of settlement in which the annuity value is paid out in a series of payments based on the lives of either one or two individuals. If payments are based on the life of one individual, the plan is a Single Life Income plan and if it is based on the lives of two individuals, the plan is a Joint Life Income plan. MATURITY DATE. The date upon which contract benefits will become payable. NET PURCHASE PAYMENT. A Purchase Payment less all applicable deductions. Deductions may include the Sales Load and a Premium Tax.

Life Income Plans. An optional mode of settlement in which the annuity value is paid out in a series of payments based on the lives of either one or two individuals. If payments are based on the life of one individual, the plan is a Single Life Income plan and if it is based on the lives of two individuals, the plan is a Joint joint Life Income plan. MATURITY DATE. The date upon which contract benefits will become payable. NET PURCHASE PAYMENT. A Purchase Payment less all applicable deductions. Deductions may include the Sales Load and a Premium Tax.

Life Income Plans. An optional mode of settlement in which the annuity value is paid out in a series of payments based on the lives of either one or two individuals. If payments are based on the life of one individual, the plan is a Single Life Income plan and if it is based on the lives of two individuals, the plan is a Joint Life Income plan. MATURITY DATE. The date upon which contract benefits will become payable. NET PURCHASE PAYMENT. A Purchase Payment less all applicable deductions. Deductions may include the Sales Load and a Premium TaxTaxes.

Life Income Plans. An optional mode of settlement in which the annuity value is paid out in a series of payments based on the lives of either one or two individuals. If payments are based on the life of one individual, the plan is a Single Life Income plan and if it is based on the lives of two individuals, the plan is a Joint Life Income plan. MATURITY DATE. The date upon which contract benefits will become payable. NET PURCHASE PAYMENT. A Purchase Payment less all applicable deductions. Deductions may include the Sales Load and a Premium Tax.