OTHER ANNUITY OPTIONS Sample Clauses

OTHER ANNUITY OPTIONS. We will make any other arrangements for annuity payments as may be mutually agreed by You and Us. -------------------------------------------------------------------------------- GENERAL PROVISIONS --------------------------------------------------------------------------------
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OTHER ANNUITY OPTIONS. The Company will make other arrangements for Annuity Payments as may be mutually agreed upon by You and Us. ANNUITY PAYMENT The first payment under any Annuity option will be made on the Maturity Date. Subsequent payments will be made in accordance with the manner of payment selected and are based on the first payment date. The option elected must result in a payment at least equal to the minimum payment amount according to Company rules then in effect. If at any time payments are less than the minimum payment amount, the Company has the right to change the frequency to an interval resulting in a payment at least equal to the minimum. If any amount due is less than the minimum per year, the Company may make other arrangements that are equitable to the Annuitant. Once Annuity Payments have begun, no surrender of the annuity benefit can be made for the purpose of receiving a lump-sum settlement. DEATH OF ANNUITANT AFTER THE MATURITY DATE If the Annuitant dies after the Maturity Date, any amount payable as a death benefit will be distributed at least as rapidly as under the method of distribution in effect. INVESTMENTS BY THE COMPANY We must invest Our assets according to applicable state laws regarding the nature, quality and diversification of investments that may be made by life insurance companies. In general, these laws permit investments, within specified limits and subject to certain qualifications, in federal, state and municipal obligations, corporate bonds, preferred and common stocks, real estate mortgages, real estate and certain other investments. In establishing interest rates, the Company will consider the yields on fixed income securities that are part of the Company's current investment strategy for the Contracts at the time that the interest rates are established. (See "Establishment of Interest Rates".) The current investment strategy for the Contracts is to invest in fixed income securities, including public bonds, privately placed bonds, and mortgages, some of which may be zero coupon securities. While this generally describes our investment strategy, We are not obligated to follow any particular strategy except as may be required by federal and state laws. ANNUAL STATEMENT At the end of each calendar year, You will receive a statement that will show: - Your Cash Value as of the end of the preceding year; - all transactions regarding Your Contract during the year; - Your Cash Value at the end of the current year; and - the interest credit...
Sample 1
OTHER ANNUITY OPTIONS. We will make other arrangements for Annuity payments as may be mutually agreed upon by You and Us. M-14634 15 LIFE ANNUITY TABLES GUARANTEED AMOUNT OF MONTHLY ANNUITY PAYMENTS PURCHASED WITH EACH $1,000 APPLIED OPTIONS 1, 2, AND 3 - SINGLE LIFE ANNUITIES MALE AND FEMALE ADJUSTED NUMBER OF MONTHLY PAYMENTS GUARANTEED CASH AGE NONE 120 180 240 REFUND 50 3.95 3.93 3.90 3.86 3.81 51 4.03 4.00 3.97 3.91 3.87 52 4.10 4.08 4.04 3.97 3.93 53 4.19 4.15 4.11 4.04 3.99 54 4.27 4.24 4.18 4.10 4.06 55 4.37 4.32 4.26 4.17 4.13 56 4.47 4.42 4.34 4.23 4.20 57 4.57 4.51 4.43 4.30 4.27 58 4.68 4.61 4.51 4.37 4.35 59 4.80 4.72 4.60 4.44 4.44 60 4.93 4.83 4.70 4.52 4.52 61 5.07 4.95 4.80 4.59 4.62 62 5.21 5.07 4.90 4.66 4.71 63 5.36 5.20 5.00 4.74 4.81 64 5.53 5.34 5.11 4.81 4.92 65 5.70 5.48 5.21 4.88 5.03 66 5.89 5.62 5.32 4.95 5.15 67 6.08 5.78 5.43 5.01 5.28 68 6.29 5.94 5.54 5.08 5.41 69 6.51 6.10 5.66 5.13 5.54 70 6.75 6.27 5.76 5.19 5.69 71 7.00 6.45 5.87 5.24 5.84 72 7.28 6.63 5.98 5.29 6.00 73 7.57 6.82 6.08 5.33 6.17 74 7.89 7.01 6.18 5.36 6.35 75 8.23 7.20 6.27 5.40 6.54 Dollar amounts of the life Annuity payments are based on the 1994 Group Annuity Mortality Table for males projected with mortality improvement scale AA with ages set back two years and a net investment rate of 3%. The adjusted age of the person on whose life the Annuity is based is determined from the actual age last birthday on the due date of the first Annuity payment in the following manner: Calendar year in which first payment is due 2001 - 2010 2011 - 2020 2021 - 2030 2031 and later Adjusted age is actual age minus 1 minus 2 minus 3 minus 4 M-14634 16 LIFE ANNUITY TABLES GUARANTEED AMOUNT OF MONTHLY ANNUITY PAYMENTS PURCHASED WITH EACH $1,000 APPLIED OPTION 4 - JOINT AND LAST SURVIVOR LIFE ANNUITY MALE AND FEMALE ADJUSTED AGES 50 55 60 65 70 75 50 3.53 3.65 3.74 3.81 3.87 3.90 55 3.65 3.81 3.97 4.09 4.19 4.26 60 3.74 3.97 4.19 4.40 4.57 4.70 65 3.81 4.09 4.40 4.71 4.99 5.23 70 3.87 4.19 4.57 4.99 5.42 5.82 75 3.90 4.26 4.70 5.23 5.82 6.43 OPTION 5 - JOINT AND LAST SURVIVOR LIFE ANNUITY - ANNUITY REDUCED ON DEATH OF PRIMARY PAYEE MALE AND FEMALE ADJUSTED AGES 50 55 60 65 70 75 50 3.73 3.79 3.84 3.88 3.91 3.93 55 3.97 4.07 4.16 4.23 4.28 4.31 60 4.25 4.40 4.53 4.65 4.74 4.81 65 4.57 4.77 4.97 5.16 5.32 5.46 70 4.92 5.17 5.45 5.74 6.01 6.25 75 5.29 5.61 5.99 6.40 6.82 7.22 Dollar amounts of the life Annuity payments are based on the 1994 Group Annuity Mortality Table for males projected with mort...
Sample 1
OTHER ANNUITY OPTIONS. Annuity Options other than Options 1-4 specified above may be available with the consent of the Company.
Sample 1
OTHER ANNUITY OPTIONS. Annuity Options other than Options 1-4 specified above may be available with Our consent.
Sample 1

Related to OTHER ANNUITY OPTIONS

  • ANNUITY OPTIONS The following Annuity Options are available under this Contract. Additional options may become available in the future:

  • ANNUITY PAYMENT OPTIONS a. Life Annuity / Life Annuity with Certain Period -- Fixed and/or Variable Annuity Payments will be made for the lifetime of the Annuitant with no Certain Period, or life and a 10 year Certain Period, or life and a 20 year Certain Period.

  • Fixed Annuity 10 1.16 Fund(s) ........................................................... 10 1.17

  • Life Annuity The monthly annuity shall be payable to the annuitant for as long as the annuitant lives, and shall end with the last monthly payment before the death of the annuitant.

  • Fixed Annuity Payments The minimum guaranteed income purchased per $1,000 of the net amount applied to a fixed annuity is based on an annual interest rate of 3% and the 1983a Mortality Table with the ages set back ten (10) years. Conversion to Current Rates – Annuity payments will be based on the greater of: • our current income factors in effect for this Contract on the Annuity Date; or • our guaranteed income factors. The dollar amount of any payments after the first annuity payment is specified during the annuity payment period according to the provisions of the elected Annuity Option.

  • Qualified Joint and Survivor Annuity An immediate annuity for the life of the Participant with a survivor annuity for the life of the spouse which is not less than 50% and not more than 100% of the amount of the annuity which is payable during the joint lives of the Participant and the spouse and which is the amount of benefit which can be purchased with the Participant's vested account balance. The percentage of the survivor annuity under the Plan shall be 50% (unless a different percentage is elected by the Employer in the Adoption Agreement).

  • JOINT AND LAST SURVIVOR ANNUITY We will make Annuity Payments, payable at the frequency elected, during the joint lifetime of the Annuitant and the Joint Annuitant. Upon the death of either the Annuitant or Joint Annuitant, Annuity Payments will continue to be paid during the remaining lifetime of the survivor. Annuity Payments cease with the final Annuity Payment due prior to the last survivor's death. Option 4 -- Joint and Last Survivor Annuity with 10 Years of Annuity Payments Guaranteed -- We will make Annuity Payments, payable at the frequency elected, during the joint lifetime of the Annuitant and the Joint Annuitant. Upon the death of either the Annuitant or Joint Annuitant, Annuity Payments will continue to be paid during the remaining lifetime of the survivor. If at the last death of the Annuitant and the Joint Annuitant, there have been less than 10 years of Annuity Payments made as selected, Annuity Payments will continue to be made for the remainder of the Guaranteed Period. You may elect to have the present value of the guaranteed Variable Annuity Payments remaining, as of the date due proof of the Annuitant's death is received at our Annuity Service Office, commuted at the Assumed Investment Return selected. We will require the return of this Contract and proof of death prior to the payment of any commuted values. ANNUITY -- You can elect to have the Annuity Option payable as Fixed Annuity Payments or Variable Annuity Payments or a combination. Fixed Annuity Payments are guaranteed as to dollar amount. Variable Annuity Payments will reflect the investment experience of the Separate Account in accordance with the allocation of the Account Value to the Subaccounts. Unless another payee is designated, you will be the payee of the Annuity Payments. The Adjusted Account Value will be applied to the applicable Fixed and/or Variable Annuity Tables to determine your first Annuity Payment. The Adjusted Account Value is determined on the Annuity Calculation Date which is a Business Day no more than five Business Days prior to the Annuity Date. The Adjusted Account Value is the Account Value, less any Premium and Other Taxes or other applicable taxes and less the Account Fee. The amount of the first payment for each $1,000 of Adjusted Account Value is shown in the Annuity Tables. FIXED ANNUITY -- Fixed Annuity Payments are based upon the Annuity Option elected, the Annuitant's Attained Age and sex, and the appropriate Fixed Annuity Option Table. If, as of the Annuity Calculation Date, the then-current Fixed Annuity Option rates applicable to this class of contracts provide an Annuity Payment greater than that which is guaranteed under the same Annuity Option under this Contract, then the greater payment will be made. The dollar amount of the first Variable Annuity Payment is determined as follows. The first Variable Annuity Payment will be based upon the Annuity Option elected, the Annuitant's Attained Age and sex, and the appropriate Variable Annuity Option Table. If, as of the Annuity Calculation Date, the then current Variable Annuity Option rates applicable to this class of Contracts provide a first Annuity Payment greater than that which is guaranteed under the same Annuity Option under this Contract, the greater payment will be made. The dollar amount of Variable Annuity Payments for each applicable Subaccount after the first payment is determined as follows:

  • JOINT AND SURVIVOR ANNUITY The Advisory Committee must direct the Trustee to distribute a married or unmarried Participant's Nonforfeitable Accrued Benefit in the form of a qualified joint and survivor annuity, unless the Participant makes a valid waiver election (described in Section 6.05) within the 90 day period ending on the annuity starting date. If, as of the annuity starting date, the Participant is married, a qualified joint and survivor annuity is an immediate annuity which is purchasable with the Participant's Nonforfeitable Accrued Benefit and which provides a life annuity for the Participant and a survivor annuity payable for the remaining life of the Participant's surviving spouse equal to 50% of the amount of the annuity payable during the life of the Participant. If, as of the annuity starting date, the Participant is not married, a qualified joint and survivor annuity is an immediate life annuity for the Participant which is purchasable with the Participant's Nonforfeitable Accrued Benefit. On or before the annuity starting date, the Advisory Committee, without Participant or spousal consent, must direct the Trustee to pay the Participant's Nonforfeitable Accrued Benefit in a lump sum, in lieu of a qualified joint and survivor annuity, in accordance with Section 6.01, if the Participant's Nonforfeitable Accrued Benefit is not greater than $3,500. This Section 6.04(A) applies only to a Participant who has completed at least one Hour of Service with the Employer after August 22, 1984.

  • ANNUITY PROVISIONS Choice of Annuity Date — Unless otherwise changed as provided below, the Annuity Date is shown in the Contract Specifications. We assigned the Annuity Date based on the Contract type chosen and the Annuitant’s Age shown in the application for this Contract. If there are Joint Annuitants, the Annuity Date was based on the younger Annuitant’s birthday. The Annuity Date may be changed by providing proper notice to us at least ten (10) Business Days prior to the current Annuity Date or new Annuity Date, whichever is earlier, subject to any applicable state law or the Code. The new Annuity Date may not be earlier than the first Contract Anniversary and must occur on or before the day the Annuitant reaches his or her 95th birthday, or earlier, as required by any applicable state law or the Code. If there are Joint Annuitants, the Annuity Date will be based on the younger Annuitant’s birthday. You may be subject to additional restrictions under your Qualified Plan. You should consult with your Qualified Plan administrator before you elect an Annuity Date.

  • ANNUITY 24.1 If the policy schedule states that the insured amount is a surviving dependant's annuity within the meaning of Section 3.125(1)(b) of the Income Tax Act 2001, this article shall apply.

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