Payment Certain Annuity Sample Clauses
A Payment Certain Annuity clause defines an annuity contract that guarantees payments for a fixed, specified period, regardless of whether the annuitant is alive during that time. For example, if the term is set for 10 years, the annuity will pay out to the annuitant or their beneficiaries for the entire period. This clause ensures that the annuity provides predictable income for a set duration, addressing concerns about premature loss of benefits due to early death.
Payment Certain Annuity. The first monthly payment of a Payment Certain annuity is payable on the date the annuity is purchased. Monthly payments are payable on the first day of each month thereafter until the total number of Payments Certain specified when the annuity was purchased has been paid. The number of Payments Certain may be 60, 120, 180, 240, or any other number accepted by Prudential. Other forms of annuity payments may be provided with the consent of Prudential.
Payment Certain Annuity. The first monthly payment of a Payment Certain annuity is payable on the date the annuity is purchased. Monthly payments are payable on the first day of each month thereafter until the total number of Payments Certain specified when the annuity was purchased has been paid. The number of Payments Certain may be 60, 120, 180, 240, or any other number accepted by Prudential. Other forms of annuity payments may be provided with the consent of Prudential. All annuities purchased under this contract will meet the requirements of Code Sections 401(a)(9) and 457(d) and the Regulations issued thereunder.
Payment Certain Annuity. The first monthly payment of a Payment Certain annuity is payable on the date the annuity is purchased. Monthly payments are payable on the first day of each month thereafter until the total number of Payments Certain specified when the annuity was purchased has been paid. The number of Payments Certain may be 60, 120, 180, 240, or any other number accepted by Prudential. Other forms of annuity payments may be provided with the consent of Prudential. No form of annuity will be purchased for a Participant which provides for payments
(i) over a period longer than his life, or his and his spouse's life, or
(ii) over a term certain extending beyond his life expectancy, or his and his spouse's combined life expectancy. No form of annuity will be purchased for a Beneficiary which provides for payments
(iii) over a period longer than his life, or
(iv) over a term certain extending beyond his life expectancy.
Payment Certain Annuity. The first monthly payment of a Payment Certain annuity is payable on the date the annuity is purchased. Monthly payments are payable on the first day of each month thereafter until the total number of Payments Certain specified when the annuity was purchased has been paid. The number of Payments Certain may be 60, 120, 180, 240, or any other number accepted by Prudential. Other forms of annuity payments may be provided with the consent of Prudential. No form of annuity will be purchased which provides for payments:
(i) to a Beneficiary or a Contingent Annuitant who is not the Annuitant's spouse if a present value calculation shows that the Annuitant's expected payments will not be more than 50% of all the expected annuity payments, or
(ii) to a Contingent Annuitant which are greater in monthly amount than the payments to the Annuitant.
Payment Certain Annuity. The first monthly payment of a Payment Certain annuity is payable on the date the annuity is purchased. Monthly payments are payable on the first day of each month thereafter until the total number of Payments Certain specified when the annuity was purchased has been paid. The number of Payments Certain may be 60, 120, 180, 240, or any other number accepted by Prudential. GVA-120-87 (10/11) Serial 410 4.4 Other forms of annuity payments may be provided with the consent of Prudential. No form of annuity will be purchased which provides for payments:
(i) to a Beneficiary or a Contingent Annuitant who is not the Annuitant's spouse if a present value calculation shows that the Annuitant's expected payments will not be more than 50% of all the expected annuity payments, or
(ii) to a Contingent Annuitant which are greater in monthly amount than the payments to the Annuitant.
Payment Certain Annuity. The first monthly payment of a Payment Certain annuity is payable on the date the annuity is purchased. Monthly payments are payable on the first day of each month thereafter until the total number of Payments Certain specified when the annuity was purchased has been paid. The number of payments may be 60, 120, 180, 240 or any other number we accept. If the Annuitant dies before his Beneficiary, monthly annuity payments will continue to be made to the Beneficiary until the number of payments specified by the Annuitant has been made.