PURCHASE PAYMENT PROVISIONS. PURCHASE PAYMENTS Purchase Payments are flexible. This means that, subject to Company disclosed restrictions, You may change the amounts, frequency and/or timing of Purchase Payments. Purchase Payments can be made at any time after the Contract Date, but must be received before the Purchase Payment Age Limit as shown on the Contract Data Page. With instructions from You, Purchase Payments will be allocated to the Variable Portfolio(s) and/or Fixed Account Option(s), if available. We reserve the right to limit the maximum amount of Purchase Payments. DOLLAR COST AVERAGING (DCA) FIXED ACCOUNT OPTION(S) Any portion of a Purchase Payment allocated to the DCA Fixed Account Option(s) must be transferred to the Variable Portfolio(s) within the specified DCA Fixed Account Option period. Upon termination of the DCA program, any amounts remaining in the DCA Fixed Account Option(s) will be transferred to the DCA target allocation(s) for the program being terminated. Upon annuitization, any amounts remaining in the DCA Fixed Account Option(s) will be applied to a Fixed Annuitization. The unit values credited and applied to Your Contract are determined on each date of transfer. The minimum contribution amount that may be allocated to the DCA Fixed Account Option(s) is $600 for the 6 month DCA, $1,200 for the 1 year DCA and $2,400 for the 2 year DCA CHANGES TO VARIABLE PORTFOLIO OFFERINGS If the shares of an Underlying Fund should no longer be available for investment by the Separate Account, then We may substitute shares of another Underlying Fund, for shares already purchased, or to be purchased in the future. At any given time, some Variable Portfolios may not be available for receipt of Purchase Payment(s) or transfer(s). Substitutions may be necessary and will be carried out in accordance with any applicable state and/or federal laws or regulations.
PURCHASE PAYMENT PROVISIONS. ...PAGE 8 Purchase Payments; Deferment of Payments; Suspension of Payments; Substitution of Investment Portfolios
PURCHASE PAYMENT PROVISIONS. PURCHASE PAYMENTS During the Accumulation Phase, you may make additional Purchase Payments. You may change the amount and frequency of Purchase Payments. The minimum dollar amounts are shown on the contract data page. If you stop making Purchase Payments, all benefits under this Contract continue until the contract value is completely withdrawn. Purchase Payments must be in lawful currency of the United States and submitted to our Home Office at 0000 000xx Xxxxx XX, Xxxxxxx, XX 00000-0000, or P.O. Box 3882, Seattle, WA 98124-3882, or in a manner agreed to by Safeco Life. We reserve the right to refuse any Purchase Payment. If we do not accept a Purchase Payment, we will return it within five business days. ALLOCATION OF PURCHASE Your initial Purchase Payment will be allocated PAYMENTS according to your instructions on your contract application. Unless you tell us otherwise, subsequent Purchase Payments will be allocated in the same proportion as your most recent Purchase Payment (unless that was a Purchase Payment you directed us to allocate on a one-time-only basis). Once we receive your Purchase Payment, the portion to be allocated to the Fixed Account is credited as of the day it is received. The portion to be allocated to the Portfolios is effective and valued as of the next close of the New York Stock Exchange (NYSE). If for any reason the NYSE is closed when we receive your Purchase Payment, it will be valued as of the close of the NYSE on its next regular business day. When we are required to guarantee a return of Purchase Payments during the Right to Examine period, we reserve the right to initially apply amounts designated for the Portfolios to the Safeco RST Money Market Portfolio as shown on the cover page of this Contract. These amounts will then be allocated in the manner you selected, unless you have canceled the Contract.
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PURCHASE PAYMENT PROVISIONS. PURCHASE PAYMENTS: Subject to the maximum and minimum amounts shown on the Contract Schedule, Purchase Payments may be made at any time during the Accumulation Period. You may increase, decrease and change the frequency of such payments. The Company reserves the right to reject any Application or Purchase Payment. ALLOCATION OF PURCHASE PAYMENTS: Purchase Payments are allocated to the Fixed Account and/or to a one or more Guarantee Period of the MVA Account and/or Variable Sub-accounts of the Separate Account in accordance with the selections made by the Owner. The allocation of the initial Purchase Payment is made in accordance with the selection made by the Owner at the Contract Issue Date. Unless otherwise changed by the Owner, subsequent Purchase Payments are allocated in the same manner as the initial Purchase Payment. Allocation of Purchase Payments are subject to the allocation guidelines shown on the Contract Schedule. SEPARATE ACCOUNT PROVISIONS THE SEPARATE ACCOUNT: The Separate Account consists of assets set aside by the Company, which are kept separate from that of the general assets and any other Separate Account assets of the Company. The assets of the Separate Account will not be charged with liabilities arising out of any other business the Company may conduct. The Separate Account assets are divided into Sub-accounts. The assets of the Sub-accounts are allocated to the Eligible Fund(s) and the Portfolio(s), if any, within an Eligible Fund. Should the shares of any such Eligible Fund(s), or any Portfolio(s) within an Eligible Fund, become unavailable for investment by the Separate Account, or the Company's Board of Directors deems further investment in these shares inappropriate, the Company may limit further purchase of such shares or substitute shares of another Eligible Fund or Portfolio for shares already purchased under this contract.
PURCHASE PAYMENT PROVISIONS. FLEXIBLE PURCHASE PAYMENTS This Contract will not be in force until we receive at our Home Office the initial Purchase Payment. You may make additional Purchase Payments at any time before the Annuity Start Date, while the Owner is living, and this Contract is in force. Purchase Payments are payable in U.S. dollars and checks should be made payable to SBL. PURCHASE PAYMENT LIMITATIONS Purchase Payments exceeding $1,000,000 will not be accepted without prior approval by SBL. The Minimum Subsequent Purchase Payment amount is shown on page 3. PURCHASE PAYMENT ALLOCATION Purchase Payments will be allocated among the Fixed Account and the Subaccounts. The allocations may be a whole dollar amount or a whole percentage. No less than $25 may be allocated to any Subaccount. No less than $250 may be allocated to the Fixed Account. Purchase Payments will be allocated according to the Owner's instructions in the Application or more recent instructions, if any. The Owner may change the allocations by written notice to SBL.
PURCHASE PAYMENT PROVISIONS. Initial Purchase Payment – This Contract will not be in force until we receive the Initial Purchase Payment and completed application in good order. Subsequent Purchase Payments – You may make Subsequent Purchase Payments before the Annuity Date, while the Owner or Annuitant is living and this Contract is active. We may limit the amount of any single Purchase Payment if it does not comply with state or federal law. A single Purchase Payment or the aggregate of all Purchase Payments may not exceed the Maximum Aggregate Purchase Payment Amount Without Pacific Life Home Office Approval. The aggregate Purchase Payments are based on all the Contracts for which you are either owner and/or annuitant.
PURCHASE PAYMENT PROVISIONS. PURCHASE PAYMENTS Purchase Payments are flexible. This means that, subject to Company declared minimums and maximums, You may change the amounts, frequency or timing of Purchase Payments. Purchase Payments will be allocated to the Fixed Account Options and one or more Subaccounts in accordance with instructions from You. We reserve the right to specify the minimum Purchase Payment that may be allocated to a Subaccount under the Certificate. DEFERMENT OF PAYMENTS We may defer making payments from the Fixed Account Options for up to six (6) months. Interest, subject to state requirements, will be credited during the deferral period. SUSPENSION OF PAYMENTS We may suspend or postpone any payments from the Subaccounts if any of the following occur:
PURCHASE PAYMENT PROVISIONS. Initial Purchase Payment — This Contract will not be in force until we receive the Initial Purchase Payment and completed application in good order. Subsequent Purchase Payments — You may make Subsequent Purchase Payments before the Annuity Date, while the Owner or Annuitant is living and this Contract is active. A single Purchase Payment or the aggregate of all Purchase Payments may not exceed the Maximum Aggregate Purchase Payment Amount Without Pacific Life Home Office Approval. The aggregate Purchase Payments are based on all the Contracts for which you are either owner and/or annuitant. Purchase Payment Allocation — Prior to the Annuity Date, you may allocate your Purchase Payments to the Investment Options available under this Contract. You may change the Purchase Payment Allocations by providing us with instructions in a form satisfactory to us. We will allocate any Purchase Payment according to your most recent instructions. We may reject any instructions or Purchase Payments if we cannot determine your allocation instructions.
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