Common use of LIFETIME INCOME PAYOUT Clause in Contracts

LIFETIME INCOME PAYOUT. OPTION Notwithstanding other provisions in this Contract to the contrary, if the Payout Option set forth on the Contract Data Page is a Lifetime Income (or Joint Lifetime Income) with no guaranteed payments after the death of the Annuitant(s), then this Contract will terminate if all Annuitants die prior to or after the Annuity Starting Date. Neither the Single Premium Payment nor any other interest nor benefit in the Contract will be owed or payable to any person by the Company.

LIFETIME INCOME PAYOUT. OPTION Notwithstanding other provisions in this Contract to the contrary, if the Payout Option set forth on the Contract Data Page is a Lifetime Income (or Joint Lifetime Income) with no guaranteed payments after the death of the Annuitant(s), then this Contract will terminate if all Annuitants die prior to or after the Annuity Starting Date. Neither the Single Premium Payment nor any other interest nor benefit in the Contract will be owed or payable to any person by the Company.. ================================================================================ ARTICLE 7: TAXATION ================================================================================

LIFETIME INCOME PAYOUT. OPTION Notwithstanding other provisions in this Contract to the contrary, if the Payout Option set forth on the Contract Data Page is a Lifetime Income (or Joint Lifetime Income) with no guaranteed payments after the death of the Annuitant(s), then this Contract will terminate if all Annuitants die prior to or after the Annuity Starting Date. Neither the Single Premium Payment nor any other 18 03017 interest nor benefit in the Contract will be owed or payable to any person by the Company.. ================================================================================ ARTICLE 7: TAXATION ================================================================================