Common use of Maturity Benefit Clause in Contracts

Maturity Benefit. If the Annuitant is living on the Maturity Date shown on page 3, the Company will pay a monthly income under a payment plan chosen by the Owner. The amount of the monthly income paid as the maturity benefit will depend on the payment plan chosen (see Section 11) and the maturity value. The maturity value of this contract will be the Accumulation Value of the contract on the effective date of the maturity benefit. The maturity benefit will be effective on the Maturity Date. However, if the New York Stock Exchange is closed on the Maturity Date, the effective date will be the Valuation Date next preceding the Maturity Date. If no payment plan is chosen at the time a monthly income becomes payable, payments will be made under the variable payment form of Life Income Plan (Option C), with installments certain for ten years, as described in Section 11.1. XX.X.X.XX.(0805) 10

Appears in 2 contracts

Samples: NML Variable Annuity Account B, NML Variable Annuity Account A

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Maturity Benefit. If the Annuitant is living on the Maturity Date shown on page Page 3, the Company will pay a monthly income under a payment an income plan chosen by the Owner. The amount of the monthly income paid as the maturity benefit will depend on the payment income plan chosen (see Section 11) and the maturity value. The maturity value of this contract Contract will be the Accumulation Value of the contract Contract on the effective date of the maturity benefit. The maturity benefit will be effective on the Maturity Date. However, if the New York Stock Exchange is closed on the Maturity Date, the effective date will be the Valuation Date next preceding the Maturity Date. If no payment income plan is chosen at the time a monthly income becomes payable, payments will be made under the variable payment form of Single Life Income Plan (Option C)plan, with installments payments, certain for ten years, as described in Section 11.111.2. XX.X.X.XX.(0805ICC12.RR.VA.BFR.(0313) 10

Appears in 1 contract

Samples: NML Variable Annuity Account B

Maturity Benefit. If the Annuitant is living on the Maturity Date shown on page 3, the Company will pay a monthly income under a payment plan chosen by the Owner. The amount of the monthly income paid as the maturity benefit will depend on the payment plan chosen (see Section 11) and the maturity value. The maturity value of this contract Contract will be the Accumulation Value of the contract Contract on the effective date of the maturity benefit. The maturity benefit will be effective on the Maturity Date. However, if the New York Stock Exchange is closed on the Maturity Date, the effective date will be the Valuation Date next preceding the Maturity Date. If no payment plan is chosen at the time a monthly income becomes payable, payments will be made under the variable payment form of Life Income Plan (Option C), with installments certain for ten years, as described in Section 11.1. XX.X.X.XX.(0805XX.X.X.XX. (1106) 109

Appears in 1 contract

Samples: NML Variable Annuity Acct C of Northwestern Mut Life Ins Co

Maturity Benefit. If the Annuitant is living on the Maturity Date shown on page 3, the Company will pay a monthly income under a payment plan chosen by the Owner. The amount of the monthly income paid as the maturity benefit will depend on the payment plan chosen (see Section 11) and the maturity value. The maturity value of this contract will be the Accumulation Value of the contract on the effective date of the maturity benefit. The maturity benefit will be effective on the Maturity Date. However, if the New York Stock Exchange is closed on the Maturity Date, the effective date will be the Valuation Date next preceding the Maturity Date. If no payment plan is chosen at the time a monthly income becomes payable, payments will be made under the variable payment form of Life Income Plan (Option C), with installments certain for ten years, as described in Section 11.1. XX.X.X.XX.(0805RR.V.B.MSNST.(0805) 10

Appears in 1 contract

Samples: NML Variable Annuity Account B

Maturity Benefit. If the Annuitant is living on the Maturity Date shown on page 3, the Company will pay a monthly income under a payment plan chosen by the Owner. The amount of the monthly income paid as the maturity benefit will depend on the payment plan chosen (see Section 11) and the maturity value. The maturity value of this contract Contract will be the Accumulation Value of the contract Contract on the effective date of the maturity benefit, less any applicable Withdrawal Charge (see Section 7.4). The maturity benefit will be effective elective on the Maturity Date. However, if the New York Stock Exchange is closed on the Maturity Date, the effective date will be the Valuation Date next preceding the Maturity Date. If no payment plan is chosen at the time a monthly income becomes payable, payments will be made under the variable payment form of Life Income Plan (Option C), with installments certain for ten years, as described in Section 11.1. XX.X.X.XX.(0805XX.X.X.XX. (1106) 109

Appears in 1 contract

Samples: NML Variable Annuity Acct C of Northwestern Mut Life Ins Co

Maturity Benefit. If the Annuitant is living on the Maturity Date shown on page 3, the Company will pay a monthly income under a payment plan chosen by the Owner. The amount of the monthly income paid as the maturity benefit will depend on the payment plan chosen (see Section 11) and the maturity value. The maturity value of this contract Contract will be the Accumulation Value of the contract Contract on the effective date of the maturity benefit, less any applicable Withdrawal Charge (see Section 7.4). The maturity benefit will be effective on the Maturity Date. However, if the New York Stock Exchange is closed on the Maturity Date, the effective date will be the Valuation Date next preceding the Maturity Date. If no payment plan is chosen at the time a monthly income becomes payable, payments will be made under the variable payment form of Life Income Plan (Option C), with installments certain for ten years, as described in Section 11.1. XX.X.X.XX.(0805XX.X.X.XX. (1106) 109

Appears in 1 contract

Samples: NML Variable Annuity Acct C of Northwestern Mut Life Ins Co

Maturity Benefit. If the Annuitant is living on the Maturity Date shown on page 3, the Company will pay a monthly income under a payment plan chosen by the Owner. The amount of the monthly income paid as the maturity benefit will depend on the payment plan chosen (see Section 11) and the maturity value. The maturity value of this contract Contract will be the Accumulation Value of the contract Contract on the effective date of the maturity benefit. The maturity benefit will be effective elective on the Maturity Date. However, if the New York Stock Exchange is closed on the Maturity Date, the effective date will be the Valuation Date next preceding the Maturity Date. If no payment plan is chosen at the time a monthly income becomes payable, payments will be made under the variable payment form of Life Income Plan (Option C), with installments certain for ten years, as described in Section 11.1. XX.X.X.XX.(0805XX.X.X.XX. (1106) 109

Appears in 1 contract

Samples: NML Variable Annuity Acct C of Northwestern Mut Life Ins Co

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Maturity Benefit. If the Annuitant is living on the Maturity Date shown on page Page 3, the Company will pay a monthly income under a payment an income plan chosen by the Owner. The amount of the monthly income paid as the maturity benefit will depend on the payment income plan chosen (see Section 11) and the maturity value. The maturity value of this contract Contract will be the Accumulation Value of the contract Contract on the effective date of the maturity benefit. The maturity benefit will be effective on the Maturity Date. However, if the New York Stock Exchange is closed on the Maturity Date, the effective date will be the Valuation Date next preceding the Maturity Date. If no payment income plan is chosen at the time a monthly income becomes payable, payments will be made under the variable payment form of Single Life Income Plan (Option C)plan, with installments payments certain for ten years, as described in Section 11.111.2. XX.X.X.XX.(0805ICC12.RR.VA.AFB.(0313) 10

Appears in 1 contract

Samples: NML Variable Annuity Account A

Maturity Benefit. If the Annuitant is living on the Maturity Date shown on page Page 3, the Company will pay a monthly income under a payment an income plan chosen by the Owner. The amount of the monthly income paid as the maturity benefit will depend on the payment income plan chosen (see Section 11) and the maturity value. The maturity value of this contract Contract will be the Accumulation Value of the contract Contract on the effective date of the maturity benefit. The maturity benefit will be effective on the Maturity Date. However, if the New York Stock Exchange is closed on the Maturity Date, the effective date will be the Valuation Date next preceding the Maturity Date. If no payment income plan is chosen at the time a monthly income becomes payable, payments will be made under the variable payment form of Single Life Income Plan (Option C)plan, with installments payments certain for ten years, as described in Section 11.111.2. XX.X.X.XX.(0805ICC12.RR.VA.CNE.(0313) 109

Appears in 1 contract

Samples: NML Variable Annuity Acct C of Northwestern Mut Life Ins Co

Maturity Benefit. If the Annuitant is living on the Maturity Date shown on page Page 3, the Company will pay a monthly income under a payment an income plan chosen by the Owner. The amount of the monthly income paid as the maturity benefit will depend on the payment income plan chosen (see Section 11) and the maturity value. The maturity value of this contract Contract will be the Accumulation Value of the contract Contract on the effective date of the maturity benefit. The maturity benefit will be effective on the Maturity Date. However, if the New York Stock Exchange is closed on the Maturity Date, the effective date will be the Valuation Date next preceding the Maturity Date. If no payment income plan is chosen at the time a monthly income becomes payable, payments will be made under the variable payment form of Single Life Income Plan (Option C)plan, with installments payments certain for ten years, as described in Section 11.1. XX.X.X.XX.(080511.2 ICC12.RR.VA.AFR.(0313) 10

Appears in 1 contract

Samples: NML Variable Annuity Account A

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