Common use of Specified Percentage Clause in Contracts

Specified Percentage. Payments of a designated percentage which cannot be greater than the percentage of the Current Value at the time of election as shown on Contract Schedule I. The percentage may be changed by written request. Aetna reserves the right to limit the number of times the percentage may be changed. The annual amount is calculated by multiplying the Current Value as of December 31 of the year prior to the payment year by the designated percentage. Payments will be made until the year the Certificate Holder attains age 70 1/2 or, if elected by the spouse Beneficiary, the year the Certificate Holder would have attained age 70 1/2. Under both the Specified Payment and Specified Period payment methods, a higher amount shall be paid in any year if required under the Code minimum distribution rules. For purposes of this determination, life expectancy for the initial distribution year shall be calculated based on single life expectancy Table V of section 1.72-9 of the Income Tax Regulations. With each subsequent year, the life expectancy will be the life expectancy for the previous year reduced by one. Payments upon the Certificate Holder's death will be made to the Beneficiary in the manner described in 3.13.

Specified Percentage. Payments of a designated percentage which cannot be greater than the percentage of the Current Value at the time of election as shown on Contract Schedule I. The percentage may be changed by written request. Aetna reserves the right to limit the number of times the percentage may be changed. The annual amount is calculated by multiplying the Current Value as of December 31 of the year prior to the payment year by the designated percentage. Payments will be made until the year the Certificate Holder attains age 70 1/2 or, if elected by the spouse Beneficiary, the year the Certificate Holder would have attained age 70 1/2. Under both the Specified Payment and Specified Period payment methods, a higher amount shall be paid in any year if required under the Code minimum distribution rules. For purposes of this determination, life expectancy for the initial distribution year shall be calculated based on single life expectancy Table V of section 1.72-9 of the Income Tax Regulations. With each subsequent year, the life expectancy will be the life expectancy for the previous year reduced by one. Payments upon the Certificate HolderXxxxxx's death will be made to the Beneficiary in the manner described in 3.13.

Specified Percentage. Payments Payment of a designated percentage which cannot be greater than the percentage of the Current Value at the time of election as shown on Contract Schedule I. The percentage may be changed by written request. Aetna reserves the right to limit the number of times the percentage may be changed. The annual amount is calculated by multiplying the Current Value as of December 31 of the year prior to the payment year by the designated percentage. Payments will be made until the year the Certificate Holder attains age 70 70-1/2 or, if elected by the spouse Beneficiary, the year the Certificate Holder would have attained age 70 70-1/2. Under both the Specified Payment and Specified Period payment methods, a higher amount shall be paid in any year if required under the Code minimum distribution rules. For purposes of this determination, life expectancy for the initial distribution year shall be calculated based on single life expectancy Table V of section 1.72-9 of the Income Tax Regulations. With each subsequent year, the life expectancy will be the life expectancy for the previous year reduced by one. Payments upon the Certificate Holder's death will be made to the Beneficiary in the manner described in 3.13.

Specified Percentage. Payments Payment of a Options (Cont'd): designated percentage which cannot be greater than the percentage of the Current Value at the time of election as shown on Contract Schedule I. The percentage may be changed by written request. Aetna reserves the right to limit the number of times the percentage may be changed. The annual amount is calculated by multiplying the Current Value as of December 31 of the year prior to the payment year by the designated percentage. Payments will be made until the year the Certificate Holder attains age 70 70-1/2 or, if elected by the spouse Beneficiary, the year the Certificate Holder would have attained age 70 70-1/2. Under both the Specified Payment and Specified Period payment methods, a higher amount shall be paid in any year if required under the Code minimum distribution rules. For purposes of this determination, life expectancy for the initial distribution year shall be calculated based on single life expectancy Table V of section Section 1.72-9 of the Income Tax Regulations. With each subsequent year, the life expectancy will be the life expectancy for the previous year reduced by one. Payments upon the Certificate HolderXxxxxx's death will be made to the Beneficiary in the manner described in 3.13.