Variable Annuity Contract Sample Clauses

Variable Annuity Contract. An Annuity Contract providing for the accumulation of value and/or for Annuity payments which vary in amount based on investment results.
Sample 1Sample 2Sample 3See All (5)
AutoNDA by SimpleDocs
Variable Annuity Contract. The benefits available under this Contract, including the Contract Value, death benefit and the annuity income payments, when based on the investment experience of the separate account, are variable. They will increase or decrease as a result of fluctuations in the net investment factor described on page 7 of the Contract. There is no minimum guaranteed value for amounts allocated to the separate account. Variable annuity income payments are determined by the Annuity Unit Value(s) of the Sub-Account(s) you select and will increase or decrease as a result of fluctuations in the net investment factor above or below the yearly Assumed Investment Return of 5%, as described on page 10 of the Contract. The explicit charges assessed against the separate account are described on the Schedule.
Sample 1Sample 2
Variable Annuity Contract. If this Contract is In Force on the Income Date, We will begin making income payments to the Annuitant. We will make such payments according to the terms of this Contract.
Sample 1
Variable Annuity Contract. If more than one -------------------------------------------------------- commission option is chosen, Broker/Dealer agrees that subagents may select from the specified commission options at the time a Contract is sold, which selection may not be changed at a later time. If more than one commission option is selected, Broker/Dealer must also specify a "default" commission option, which will apply in the event the Subagent does not select a commission option at the time of the sale of a Contract. With respect to WM Diversified Strategies/III/ Contracts issued to persons age 80 or younger (at date of issue), commissions will be paid pursuant to one or more of the options set forth below, as selected by Broker/Dealer. ------------------------------------------------------------------------------------------------------------- Commission Annual Trail Commission Allowed Default Rate as a Percentage (Check all that (Select of Purchase apply) only one) Payments ------------------------------------------------------------------------------------------------------------- Option For Contracts in force from 39 months or longer, 1 4.50% 1.00% annually, payable in 0.25% quarterly [ ] [ ] installments ------------------------------------------------------------------------------------------------------------- Option For Contracts in force from 15 months or longer, 2 4.00% 0.25% annually, payable in (0.25/4)% quarterly [ ] [ ] installments for months 15 through 36, 1.00% annually, payable in 0.25% quarterly installments thereafter ------------------------------------------------------------------------------------------------------------- Option For Contracts in force from 15 months or longer, 3 2.75% 1.00% annually, payable in 0.25% quarterly [ ] [ ] installments ------------------------------------------------------------------------------------------------------------- [Continued on next page] With respect to WM Diversified Strategies/III/ Contracts issued to persons age 81-85 (at date of issue), commissions will be paid pursuant to one or more of the options set forth below, as selected by Broker/Dealer. ------------------------------------------------------------------------------------------------------------- Commission Annual Trail Commission Allowed Default Rate as a Percentage (Check all that (Select of Purchase apply) only one) Payments ------------------------------------------------------------------------------------------------------------- Option For Cont...
Sample 1

Related to Variable Annuity Contract

  • Fixed Annuity 10 1.16 Fund(s) ........................................................... 10 1.17

  • Life Annuity The monthly annuity shall be payable to the annuitant for as long as the annuitant lives, and shall end with the last monthly payment before the death of the annuitant.

  • Annuity 24.1 If the policy schedule states that the insured amount is a surviving dependant's annuity within the meaning of Section 3.125(1)(b) of the Income Tax Act 2001, this article shall apply.

  • ANNUITY PAYMENTS If the Annuitant is living and this contract is in force on the Annuity Commencement Date, based on the election we have on record we will begin to make annuity payments under one of the payout options below or any other payout option we make available. You may elect for payments to be made monthly, quarterly, semi-annually or annually or any other frequency that we make available. If no election is made as of the Annuity Commencement Date, payments will be made monthly under Fixed Annuity Payout Option F-2 with a guaranteed period of 10 years. If annuity payout option F-3 is chosen, you must select a joint Annuitant prior to the Annuity Commencement Date. All annuity payments are based on: • the age and sex (if a Non-Qualified Contract) of the Annuitant at the birthday nearest the Annuity Commencement Date; • the Accumulation Value on the Annuity Commencement Date less any annuity taxes; • the annuity payout option elected; and • the annuity payout frequency. Payee Unless you request otherwise, the payee of any annuity payments will be the first among the following who is living at the time the payment is to be made: • any surviving Owner or joint Owner; if none then • any surviving Primary Beneficiary; if none then • any surviving Contingent Beneficiary. If no payees are living and a guaranteed period has not ended, the present value of any remaining payments will be paid to the estate of the last remaining payee. Annuity Payout Options You may elect to receive annuity payments from one of the following options or any other option we make available. Unless stated otherwise, once annuity payments begin you may not change the Annuitant, payout option, guaranteed period or, in the case of option F-3, the survivor percentage. Life Annuity without Guaranteed Period (Option F-1) We will make fixed annuity payments during the lifetime of the Annuitant. We do not guarantee a minimum number of annuity payments under this option. Payments stop once the Annuitant dies. Life Annuity with Guaranteed Period (Option F-2) We will make fixed annuity payments during the lifetime of the Annuitant. Payments are guaranteed for any number of full years between 1 and 30. The length of the guaranteed period must be elected prior to receiving any annuity payments, and cannot exceed the life expectancy of the Annuitant. If the Annuitant dies before the end of the guaranteed period, we will pay the balance of the payments for the remainder of that period, unless you elect to be paid the present value of the current dollar amount of the then remaining annuity payments in a lump sum. Joint and Survivor Annuity (Option F-3) We will make fixed annuity payments while the Annuitant and joint Annuitant are living and during the survivor’s remaining lifetime. Based on your selection, payments may have no guaranteed period or may have a guaranteed period for any number of full years between 1 and 30. If you select a guaranteed period, the length of the guaranteed period must be elected prior to receiving any annuity payments, and cannot exceed the joint life expectancy of the Annuitants. When the Annuitant or the joint Annuitant dies, payments based on a percentage of the payment in effect while both were living will continue for the lifetime of the survivor. The percentage may be any percentage between 5% and 100%. The percentage must be elected prior to receiving the first annuity payment. If both the Annuitant and joint Annuitant die before the end of any guaranteed period, we will pay the balance of the payments for the remainder of that period, unless you elect to be paid the present value of the current dollar amount of the then remaining annuity payments in a lump sum.

  • ANNUITY OPTIONS The following Annuity Options are available under this Contract. Additional options may become available in the future:

  • VARIABLE INTEREST RATE The interest rate on this Note is subject to change from time to time based on changes in an index which is the BOKF National Prime Rate, described as the rate of interest set by BOK Financial Corporation, in its sole discretion, on a daily basis as published by BOK Financial Corporation ("BOKF") from time to time (the "Index"). The Index is not necessarily the lowest rate charged by Lender on its loans and is set by Lender in its sole discretion. If the Index becomes unavailable during the term of this loan, Lender may designate a substitute index after notifying Borrower. Lender will tell Borrower the current Index rate upon Borrower's request. The interest rate change will not occur more often than each day. Borrower understands that Lender may make loans based on other rates as well. The Index currently is 4.000% per annum. Interest on the unpaid principal balance of this Note will be calculated as described in the "INTEREST CALCULATION METHOD" paragraph using a rate of 0.500 percentage points under the Index, adjusted if necessary for any minimum and maximum rate limitations described below, resulting in an initial rate of 3.500% per annum based on a year of 360 days. NOTICE: Under no circumstances will the interest rate on this Note be less than 3.500% per annum or more than the maximum rate allowed by applicable law. INTEREST CALCULATION METHOD. Interest on this Note is computed on a 365/360 basis; that is, by applying the ratio of the interest rate over a year of 360 days, multiplied by the outstanding principal balance, multiplied by the actual number of days the principal balance is outstanding. All interest payable under this Note is computed using this method.

  • Tax Sheltered Annuity Voluntary adjunct employee salary reductions for Internal Revenue Code Section 403(b) tax-sheltered annuities and 457(b) deferred compensation shall be available to adjunct employees covered by this Agreement. Contracts shall be arranged individually through the Office of the Executive Vice President for Finance and Administrative Services or designee subject to regulation by the College.

  • Annuity Plan Teachers will be eligible to participate in a “tax sheltered” annuity plan established pursuant to United States Public Law No. 87-370.

  • FIXED ACCOUNT 8 TRANSFERS AMONG ACCOUNTS...................................................10 SURRENDERING, OR WITHDRAWING PART OF THE ACCOUNT VALUE.....................10 CHARGES...................................................................10

  • Tax Sheltered Annuities The SPS shall continue to comply with the law(s) regarding Tax Sheltered Annuities.

Time is Money Join Law Insider Premium to draft better contracts faster.