Selection of an Annuity Option. An Annuity Option may be selected by Written Request of the Owner. If no Annuity Option is selected, Option B with 120 monthly payments guaranteed will automatically be applied. Prior to the Annuity Date, the Owner can change the Annuity Option selected by Written Request. Any change must be requested at least thirty (30) days prior to the Annuity Date.
Selection of an Annuity Option. An Annuity Option may be selected by You. If no Annuity Option is selected, Option B will automatically be applied. Prior to the Income Date, You may change the Annuity Option selected by Written Request. Any change must be requested at least 30 days prior to the Income Date. Frequency and Amount of Income Payments Income Payments are paid in monthly installments unless quarterly, semi-annual or annual payments are chosen. The Adjusted Contract Value is applied to the Annuity Table for the Annuity Option selected. If the Adjusted Contract Value to be applied under an Annuity Option is less than $5,000, We reserve the right to make a lump sum payment in lieu of Income Payments. If the Income Payment would be or becomes less than $100, We will reduce the frequency of payments to a longer interval which will result in each payment being at least $100. Annuity Options The following Annuity Options or any other Annuity Option acceptable to Us may be selected: OPTION A. ANNUITY FOR A FIXED NUMBER OF YEARS: Income Payments for a chosen number of years, not fewer than 5. If the payee dies during the payment period and the Beneficiary does not desire payments to continue for the remainder of the period, he/she may elect to have the present value of the remaining payments commuted and paid in a lump sum. During the payment period of a Variable Annuity, the payee may elect by Written Request to receive the following amount: (a) the present value of the remaining payments commuted; less (b) any surrender charge that may be due by treating the value defined in (a) as a surrender. Instead of receiving a lump sum, the payee may elect another Annuity Option. The amount applied to that Option would not be reduced by the charge defined in (b). OPTION B. LIFE ANNUITY WITH PERIOD CERTAIN OF 10 YEARS: Income Payments during the lifetime of the payee and in any event for 10 years certain. If the payee dies during the guaranteed payment period and the Beneficiary does not desire payments to continue for the remainder of the guaranteed period, he/she may elect to have the present value of the guaranteed payments remaining commuted and paid in a lump sum.
Selection of an Annuity Option. An Annuity Option may be selected by Written Request of the Owner. If no Annuity Option is selected, Option B with 120 monthly payments guaranteed will automatically be applied. Unless specified otherwise, that portion of the Adjusted Contract Value allocated to the Variable Account shall be used to provide a Variable Annuity and that portion of the Adjusted Contract Value allocated to the Fixed Account and the MVA Account will be used to provide a Fixed Annuity. Prior to the Annuity Date, the Owner can change the Annuity Option selected by Written Request. Any change must be requested at least thirty (30) days prior to the Annuity Date.
Selection of an Annuity Option. An Annuity Option may be selected by You. If no Annuity Option is selected, Option B will automatically be applied. Prior to the Income Date, You may change the Annuity Option selected by Written Request. Any change must be requested at least 30 days prior to the Income Date.
Selection of an Annuity Option. An Annuity Option may be selected by a Certificate Owner. If no Annuity Option is selected, Option B will automatically be applied. Prior to the Income Date, a Certificate Owner can change the Annuity Option selected by Written Request. Any change must be requested at least 30 days prior to the Income Date. FREQUENCY AND AMOUNT OF ANNUITY PAYMENTS Annuity Payments are paid in monthly installments unless quarterly, semi-annual or annual payments are chosen. The Adjusted Certificate Value is applied to the Annuity Table for the Annuity Option selected. If the Adjusted Certificate Value to be applied under an Annuity Option is less than $5,000, We reserve the right to make a lump sum payment in lieu of Annuity Payments. If the Annuity Payment would be or becomes less than $100, We will reduce the frequency of payments to a longer interval which will result in each payment being at least $100. ANNUITY OPTIONS The following Annuity Options or any other Annuity Option acceptable to Us may be selected:
Selection of an Annuity Option. An Annuity Option may be selected by Written Request of the Owner. If no Annuity Option is selected, Option 2 with 120 monthly payments guaranteed will automatically be applied. Unless specified otherwise, that portion of the Contract Withdrawal Value allocated to the Separate Account shall be used to provide a variable annuity, and that portion of the Contract Withdrawal Value allocated to the Fixed Account will be used to provide a Fixed Annuity. Prior to the Annuity Date, the Owner can change the Annuity Option selected by Written Request. Any change must be requested at least thirty (30) days prior to the Annuity Date. -------------------------------------------------------------------------------- ANNUITIZATION PROVISIONS (CONTINUED) -------------------------------------------------------------------------------- FREQUENCY AND AMOUNT OF ANNUITY PAYMENTS. Annuity Payments are paid in monthly installments. The Contract Withdrawal Value is applied to the annuity table for the Annuity Option selected. If the Contract Withdrawal Value applied under an Annuity Option is less than $5,000, the Company reserves the right to make a lump sum payment in lieu of Annuity Payments. If the Annuity Payment is ever less than $50, the Company reserves the right to reduce the frequency of payments to an interval which will result in each payment being at least $50.
Selection of an Annuity Option. An Annuity Option may be selected by an Authorized Request of the Owner. If no Annuity Option is selected, Option 2 with 120 monthly payments guaranteed will automatically be applied. Prior to the Annuity Date, the Owner can change the Annuity Option selected by an Authorized Request. Any change must be requested at least thirty (30) days prior to the Annuity Date. If an Annuity Option with a Guarantee Period provides for installment payments of the same amount as some ages for different Guarantee Periods, we will deem an election to have been made for the longest Guarantee Period which could have been elected for such age and amount.
Selection of an Annuity Option. An Annuity Option may be selected by a Certificate Owner. If no Annuity Option is selected, Option B will automatically be applied. Prior to the Income Date, a Certificate Owner can change the Annuity Option selected by Written Request. Any change must be requested at least 30 days prior to the Income Date. Frequency and Amount of Annuity Payments Annuity Payments are paid in monthly installments unless quarterly, semi- annual or annual payments are chosen. The Adjusted Certificate Value is applied to the Annuity Table for the Annuity Option selected. If the Adjusted Certificate Value to be applied under an Annuity Option is less than $2,000, We reserve the right to make a lump sum payment in lieu of Annuity Payments. If the Annuity Payment would be or becomes less than $100, We will reduce the frequency of payments to a longer interval which will result in each payment being at least $100. Annuity Options The following Annuity Options or any other Annuity Option acceptable to Us may be selected:
Selection of an Annuity Option. An Annuity Option may be selected by an Authorized Request of the Owner. If no Annuity Option is selected, Option 2 with 120 monthly payments guaranteed will automatically be applied. Prior to the Annuity Date, the Owner can change the Annuity Option selected by an Authorized Request. Any change must be requested at least thirty (30) days prior to the Annuity Date. The Company does not offer a Single Premium Immediate Annuity (“SPIA”), however, if the Company should offer SPIA contracts in the future, the Annuity Payments at the time of commencement will never be less than those that would be provided by the application of the cash surrender value to purchase a SPIA, at purchase rates offered by the Company at the time to the same class of annuitants.
Selection of an Annuity Option. An Annuity Option is selected by the Owner on the forms provided by the Company. If no Annuity Option is selected, Option B with 120 months guaranteed will automatically be applied. Prior to the Annuity Date, the Owner can change the Annuity Option selected by Written Request. Any change must be requested at least fifteen (15) days prior to the Annuity Date. FREQUENCY AND AMOUNT OF ANNUITY PAYMENTS: Annuity Payments may be paid in monthly, quarterly, semi-annual or annual installments. The Adjusted Contract Value is applied to the Annuity Table for the Annuity Options selected. If the Adjusted Contract Value to be applied under an Annuity Option is less than $2,000, the Company reserves the right to make a lump sum payment in lieu of Annuity Payments. If the Annuity Payment would be or becomes less than $200 where only a Fixed Annuity Payment or a Variable Annuity is selected, or if the Annuity Payment would be or becomes less than $100 on each basis when a combination of Fixed and Variable Annuities is selected, the Company will reduce the frequency of payments to an interval which will result in each payment being at least $200, or $100 on each basis if a combination of Fixed and Variable Annuities is selected.
