MISSTATEMENT OF AGE AND/OR SEX. If the age and/or sex of the Annuitant has been misstated, the amount payable under the Contract will be adjusted to be the amount of income which the actual premium paid would have purchased for the correct age and/or sex according to LNY's rates in effect on the Contract Date. Any overpayment by LNY, with interest at the rate of 6% per year, compounded annually, will be charged against the payments to be made next succeeding the adjustment. Any underpayment by LNY will be paid in a lump sum, with interest at the rate of 6% per year, compounded annually.
MISSTATEMENT OF AGE AND/OR SEX. If the age and/or sex of the Annuitant has been misstated, the benefits available under this Contract will be those which the Purchase Payments would have purchased using the correct age and/or sex. Any underpayment already made by LNL will be made up immediately and any overpayments already made by LNL will be charged against the annuity benefit payments falling due after the correction is made.
MISSTATEMENT OF AGE AND/OR SEX. If the Age and/or sex of the Annuitant or Owner is incorrect, we will base any Death Benefit or annuity payments on the correct Age and/or sex. If annuity payments have started, we will deduct/add the amount of the overpayment/underpayments with interest as shown in the Contract Specifications, to future payments.
MISSTATEMENT OF AGE AND/OR SEX. If the age and/or sex of the Annuitant has been misstated, the amount payable under this Contract will be adjusted to the amount of income that would have been purchased for the correct age and/or sex on the Contract Date. Proof of Age may be required at any time. If We made any overpayments because of misstatement, the dollar amount of any overpayment will be deducted from the current or succeeding Annuity Payments due under this Contract. The dollar amount of any underpayment made by Us because of misstatement, will be paid in full with the next payment due under this Contract. Any adjustment for overpayment or underpayment will include interest charged or credited, as applicable, at an interest rate of 1% per year, compounded annually.
MISSTATEMENT OF AGE AND/OR SEX. If the age and/or sex of the Annuitant has been misstated, the amount payable under this Contract will be adjusted to be the amount of income which the actual Purchase Payments paid would have purchased for the correct age and/or sex on the Contract Date. Proof of age may be required at any time, in a form satisfactory to Us. If We made any overpayments because of misstatement, the dollar amount of any overpayment will be deducted from the current or succeeding Annuity Payments due under this Contract. The dollar amount of any underpayment made by Us because of misstatement, will be paid in full with the next payment due under this Contract. Any adjustment for overpayment or underpayment will include interest charged or credited, as applicable, at a rate of 1% per annum, compounded annually. GENERAL PROVISIONS (continued)
MISSTATEMENT OF AGE AND/OR SEX. We may require proof of the Annuitant’s or Owner’s Age and/or sex before any payments associated with the death benefit proceeds are made. If the Age and/or sex of the Annuitant or Owner is incorrectly stated, we will base any such payment associated with the death benefit proceeds on the Annuitant’s or Owner’s correct Age and/or sex. We may require proof of the Annuitant’s Age and/or sex before starting annuity payments. If the Age and/or sex (or both) of the Annuitant is incorrectly stated, we will correct the amount payable, based upon the Annuitant’s correct Age and/or sex, if applicable. If we make the correction after annuity payments have started and we have made overpayments, we will deduct the amount of the overpayment, with interest as shown in the Contract Specifications, from any payments due then or later. If we have made underpayments, we will add the amount, with interest as shown in the Contract Specifications, of the underpayments to the next payment we make after we receive proof of the correct Age and/or sex.
MISSTATEMENT OF AGE AND/OR SEX. If the age and/or sex of the Annuitant has been misstated, the amount payable under this Contract will be adjusted to be the amount of income which the actual Single Purchase Payment paid would have purchased for the correct age and/or sex on the Contract Date. Proof of age may be required at any time, in a form satisfactory to Us. If We made any overpayments because of misstatement, the dollar amount of any overpayment will be deducted from the current or succeeding annuity payments due under this Contract. The dollar amount of any underpayment made by Us because of misstatement, will be paid in full with the next payment due under this Contract.
MISSTATEMENT OF AGE AND/OR SEX. If the age and/or sex of the Annuitant has been misstated, the benefits available under this Contract will be those which the Purchase Payments would have purchased using the correct age and/or sex. Any underpayment already made by Keyport will be made up immediately and any overpayments already made by Keyport will be charged against the annuity payments falling due after the correction is made.
MISSTATEMENT OF AGE AND/OR SEX. If the age and/or sex of the Annuitant has been misstated, the amount payable under the Contract will be adjusted to be the amount of income which the actual premium paid would have purchased for the correct age and/or sex according to Lincoln National's rates in effect on the Contract Date. Any overpayment by Lincoln National will be charged against the payments to be made next succeeding the adjustment. Any underpayment by Lincoln National will be paid in a lump sum.
MISSTATEMENT OF AGE AND/OR SEX. If the age and/or sex of the Annuitant has been misstated, the benefits available under this Contract will be those which the Purchase Payments would have purchased using the correct age and/or sex. Any underpayment already made by LL&A shall be made up immediately and any overpayments already made by LL&A shall be charged against the annuity payments falling due after the correction is made. Any amounts so paid or charged will be adjusted based on an interest rate of 6% per annum.
