Single Life Annuity Sample Clauses
A Single Life Annuity clause defines a payment arrangement where periodic income is provided to an individual for the duration of their lifetime. Under this clause, payments cease upon the death of the annuitant, with no further benefits paid to beneficiaries or estates. This structure is commonly used in retirement planning to ensure a steady income stream for one person, addressing the risk of outliving one's savings by guaranteeing income as long as the individual is alive.
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Single Life Annuity. Beginning on the Annuity Date, we will make Annuity Payments for the life of the Annuitant. Annuity Payments cease upon the death of the Annuitant.
Single Life Annuity. ☐ i. Annuity for year Period certain and life (XX) ☐ j. Annuity for a Period certain selected by the Participant and no life contingency (XX)
Single Life Annuity. The normal form of payment from the Plan is a single life annuity. With the single life annuity, you receive a monthly benefit for your life, with all benefits stopping upon your death.
Single Life Annuity. Single Life Annuity" means an annuity which ------------------- provides a specified level monthly benefit until the death of the beneficiary.
Single Life Annuity. We will make payments as long as the Annuitant is living. Payments under this Settlement Option depend on the age and sex of the Annuitant on the Annuity Income Date. If there are Joint Annuitants, the Written Request electing this Settlement Option must specify the Annuitant whose life is to be referenced in determining the payments under this Settlement Option. No further amounts will be payable under this Settlement Option after the specified Annuitant has died.
Single Life Annuity. An annuity payable for the life of the Participant that terminates upon the Participant’s death.
Single Life Annuity. The single life annuity shall provide, at the election of the Executive, monthly, quarterly or annual payments equivalent to the Executive’s benefit determined under Section 3.01 hereof for the Executive’s life. No benefits shall be payable under this Section 3.02(a) after the death of the Executive.
Single Life Annuity. The Normal Form of payment of a Retirement Benefit for Executive who is living at the time payment commences and who is unmarried on such date shall be a single life annuity. Under a single life annuity, Executive shall receive a monthly benefit for life equal to 1/12 of his Retirement Benefit and all payments shall cease upon Executive's death.
Single Life Annuity. An annuity that begins no later than the Required Beginning Date and is paid for the Participant’s lifetime only, with no benefits paid to any other person, meets the requirements of the Code and this Appendix.
Single Life Annuity. A Participant who retires on or after attainment of age 60 shall, absent an election to receive an Optional Form of Benefit, receive a Single Life Annuity determined using the formula set forth in the Plan (based only upon years of service, compensation and Tier), with no reduction for commencement prior to age 65. A Participant who retires before attainment of age 60 (but on or after attainment of age 55), shall, absent an election to receive an Optional Form of Benefit, receive a Single Life Annuity first determined under the formula set forth in the Plan and then reduced by the appropriate percentage described in Section 2.10 (e.g., 15% reduction if commencement is at age 57).