MINIMUM ANNUITY PAYMENT Sample Clauses
The Minimum Annuity Payment clause establishes the lowest amount that must be paid to an annuitant during each payment period, regardless of investment performance or other factors. In practice, this means that even if the underlying assets perform poorly, the annuitant is guaranteed to receive at least the specified minimum payment, providing a safety net against market downturns. This clause serves to protect the annuitant from receiving insufficient income, ensuring a predictable and stable stream of payments throughout the annuity term.
MINIMUM ANNUITY PAYMENT. If the Contract Value to be applied at the Annuity Date is less than $5,000, we may pay such amount in a lump sum. If any payment would be less than $50, we may change the frequency so payments are at least $50 each.
MINIMUM ANNUITY PAYMENT. An Annuity Option may not be elected under a Fixed or Variable Annuity unless an annuity payment of at least $25 would be provided under that Option. If a combination of Fixed and Variable Annuities is elected, each Fixed Annuity payment and each portion of a Variable Annuity payment based on Division must equal at least $25.
MINIMUM ANNUITY PAYMENT. 8 7.13 Reports to Contract Owners . . . . .
MINIMUM ANNUITY PAYMENT. The Annuity Payments must be at least equal to the Minimum Annuity Payment Amount shown on the Contract Data Page. If at any time, payments are less than the Minimum Annuity Payment Amount, We have the right to change the Annuity Payment Frequency to meet the minimum annuity payment requirements or to make an alternative arrangement with You. A23RILA-SPDA-01 13 You may elect any one of the Annuity Options described below or any other Annuity Option We offer at the time of annuitization.
MINIMUM ANNUITY PAYMENT. If the Net Account Value to be applied at the Annuity Date is less than $5,000, we may pay such amount in a lump sum. If any payment would be less than $50, we may change the frequency so payments are at least $50 each.
MINIMUM ANNUITY PAYMENT. If the net contract value to be applied at the annuity date is less than $5,000, we may pay such amount in a lump sum. If any payment would be less than $50, we may change the frequency so payments are at least $50 each.