Examples of 10 or 20 Year Certain and Life Income Annuity in a sentence
If the Participant elected a Single Life Annuity, and subsequent to such election, but prior to benefit commencement, the Participant shall marry or remarry, then, at any time prior to benefit commencement, the Participant shall have the right to change his election to a Joint and Contingent Survivor Annuity or a 10 or 20 Year Certain and Life Income Annuity, but only if the Contingent Joint Annuitant of such optional form of benefit is the Participant’s new spouse.
If the Participant elected a Joint and Contingent Survivor Annuity and subsequent to such election, but prior to benefit commencement, the Participant’s Contingent Joint Annuitant shall die or the Participant and Contingent Joint Annuitant shall be divorced, then, at any time prior to the benefit commencement, the Participant shall have the right to designate a new Contingent Joint Annuitant or to change his optional form to a Single Life Annuity or a 10 or 20 Year Certain and Life Income Annuity.
Instead of the normal form of payment of Retirement Income described in Section 4.3 above, the Participant may elect to receive his benefits in the form of a Joint and Survivor Annuity or a 10 or 20 Year Certain and Life Income Annuity.
In lieu of the form of payment of Retirement Income described in Section 4.3, a Dual Eligible Participant may elect to receive Retirement Income in one of the following forms: a Joint and Contingent Survivor Annuity as defined in the Torchmark Corporation Supplemental Executive Retirement Plan or a 10 or 20 Year Certain and Life Income Annuity as defined in the Torchmark Corporation Supplemental Executive Retirement Plan.
Instead of the normal form of payment of Retirement Income described in Section 4.3 above, the Participant may elect to receive his benefits in the form of a Joint and Contingent Survivor Annuity or a 10 or 20 Year Certain and Life Income Annuity.
The Joint and Survivor Annuity or the 10 or 20 Year Certain and Life Income Annuity shall be the Actuarial Equivalent of the Single Life Annuity.
If the Participant elected a Single Life Annuity, and subsequent to such election, but prior to benefit commencement, the Participant shall marry or remarry, then, at any time prior to benefit commencement, the Participant shall have the right to change his election to a Joint and Survivor Annuity or a 10 or 20 Year Certain and Life Income Annuity, but only if the Beneficiary of such optional form of benefit is the Participant’s new spouse.
The Joint and Contingent Survivor Annuity or the 10 or 20 Year Certain and Life Income Annuity shall be the Actuarial Equivalent of the Single Life Annuity.
If the Participant elected a Joint and Survivor Annuity and subsequent to such election, but prior to benefit commencement, the Participant’s Beneficiary shall die or the Participant and the Beneficiary shall be divorced, then, at any time prior to benefit commencment, the Participant shall have the right to designate a new Beneficiary or to change his optional form to a Single Life Annuity or a 10 or 20 Year Certain and Life Income Annuity.