Common use of Your Selections Clause in Contracts

Your Selections. Prior to the Annuity Date, you may make two selections about the annuity payments. First, you may choose the form of annuity payments (Annuity Option). Second, you may choose to have annuity payments made monthly, quarterly, semiannually, or annually. The first annuity payment will be sent on the day following the Annuity Date and must be at least $250. We may reduce the payment frequency if the first annuity payment is less than $250. If you elect annuity payments for a Period Certain Only, we also reserve the right to reduce the Period Certain to meet the $250 minimum first payment. Once annuity payments begin, no changes can be made to either the Annuity Option or the basis on which such payments are made, no additional purchase payments will be accepted and no withdrawals will be allowed.