Annuitant Issue Age definition

Annuitant Issue Age. [N/A] Issue Date: [May 1, 2024] Issue State: NY Premium Amount: [$25,000] Income Date: [May 1, 2074] Primary Beneficiary(ies): [Xxxxx Xxx] Contingent Beneficiary(ies): [Xxxx Xxx]
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Annuitant Issue Age. [N/A] Issue Date: [June 1, 2023] Issue State: [MI] Premium Amount: [$25,000] Income Date: [June 1, 2073] Primary Beneficiary(ies): [Xxxxx Xxx] Contingent Beneficiary(ies): [Xxxx Xxx] RILA295-FB1 3c CONTRACT DATA PAGES (CONT'D) MARKET VALUE ADJUSTMENT (MVA): An MVA is a positive or negative adjustment the Company applies to amounts You remove from Your Contract due to withdrawals or annuitizations during the MVA Period. In the event of a total withdrawal, any applicable MVA is applied to the Contract Value, less any MVA Free Withdrawal amount available at the time of the total withdrawal. MVA Period: The first [six (6)] Contract Years. The MVA reflects the movement in the MVA Reference Rate since the Issue Date. The MVA may: 1. reduce the value of the amount paid or annuitized if the MVA Reference Rate on the date You remove Contract Value from Your Contract is greater than the MVA Reference Rate on the Issue Date of Your Contract; or 2. increase the value of the amount paid or annuitized if the MVA Reference Rate on the date You remove Contract Value from Your Contract is less than the MVA Reference Rate on the Issue Date of Your Contract. The Company applies the same MVA formula regardless of whether the formula results in an increase or decrease to amounts You remove from Your Contract. MVA formula. The Company calculates the MVA by multiplying the amount You withdraw that is subject to MVA less any applicable charges by the result of the formula below: where: I is the MVA Reference Rate on the Issue Date J is the MVA Reference Rate on the date of withdrawal or annuitization m is the number of complete months remaining from the date of the removal to the end of the MVA Period. -1 [1+ I ] (m/12) [1+ J ] (m/12)
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Annuitant Issue Age. [N/A] Issue Date: [January 15, 2021] Issue State: [MI] Premium Amount: [$25,000] Income Date: [January 15, 2071] Primary Beneficiary(ies): [Xxxxx Xxx] Contingent Beneficiary(ies): [Xxxx Xxx] RILA285-FB1 3a CONTRACT DATA PAGES (CONT'D) FIXED ACCOUNT INFORMATION: Fixed Account Minimum Interest Rate (FAMIR): [1.00%] Fixed Account Minimum Value Percentage: [87.50%] Fixed Account Minimum Value Annual Expense Allowance: [$50] INTEREST RATE FOR ADJUSTMENTS DUE TO MISSTATEMENT OF AGE OR SEX: [1.00%] WITHDRAWALS: Minimum partial withdrawal amount unless as a scheduled part of an automatic withdrawal program: [$500] Minimum partial withdrawal amount as a scheduled part of an automatic withdrawal program: [$50] Minimum Contract Value remaining after a partial withdrawal: [$2,000] MVA Free Withdrawal Percentage: [10%] PREMIUM: Premium is money paid into this Contract for allocation into a Contract Option. This is a single Premium Contract. The Company may waive minimum and maximum Premium at any time, on a nondiscriminatory basis. Minimum Premium: [$25,000] Maximum Premium: [$1,000,000] SEPARATE ACCOUNT: [RILA Separate Account] RILA285-FB1 3b
Sample 1

Examples of Annuitant Issue Age in a sentence

  • Smith Annuitant Issue Age: 56 Joint Annuitant Issue Age: 55 First Payment Date: March 14, 1999 Payment Frequency: Monthly SCHEDULE OF BENEFITS Joint and Full Survivor Annuity: Annuity payments begin on the First Payment Date and will continue for the lives of the Annuitant and Joint Annuitant.

  • Smith Annuitant Issue Age: 56 Joint Annuitant Issue Age: 55 First Payment Date: March 14, 1999 Payment Frequency: Monthly SCHEDULE OF BENEFITS Joint and 66 2/3 Survivor Annuity: Annuity payments begin on the First Payment Date and will continue for the lives of the Annuitant and Joint Annuitant.

  • Annuitant Annuitant Annuitant Annuitant Issue Age less than 75 Issue Age less than 75 Issue Age 75+ Issue Age 75+ First Year First Year Commission /(a)(b)(c)/ Asset Trail /(d)/ Commission /(a)(b(c)/ Asset Trail /(d)/ 25 b.p. 12.5 b.p. 2.5% (0.25%) 1.3% (0.125%) ----------------------------------------------------------------------------------------------------- /(a)/ All commissions on the MONY Custom Master are considered First Year Commissions.

  • Annuitant Annuitant Issue Age less than 80 Issue Age 80+ First Year First Year Commission/(a)//(b)/ Commission/(a)//(b)/ 2.5% 1.3% --------------------------- ------------------------ /(a)/ All commissions on MONY Custom Income Max are considered First Year Commissions.

Related to Annuitant Issue Age

  • Annuitant means a person who receives a retirement allowance or a disability allowance;

  • Joint Annuitant means the individual specified as such in the Data Pages. The Joint Annuitant must be the spouse of the Annuitant on the Contract Date.

  • ANNUITY DATE The date on which Annuity Payments begin. The Annuity Date is shown on the Contract Schedule. ANNUITY OPTIONS: Options available for Annuity Payments.

  • Contingent Annuitant is the natural person who becomes the Annuitant if the Annuitant dies prior to the Income Date.

  • Social Security Retirement Age means the age used as the retirement age under Section 216(l) of the Social Security Act, applied without regard to the age increase factor and as if the early retirement age under Section 216(l)(2) of such Act were 62.

  • Annuity means a stated sum payable periodically at stated times during life or during a specified or ascertainable period of time under an obligation to make the payments in return for adequate and full consideration in money or money's worth.

  • Annuity Commencement Date is the first day of the month an annuity begins under this contract. This date may not be later than the date a Participant's periodic benefits are required to commence under the Code.

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • Retirement Age means the earlier to occur of:

  • Earliest Retirement Age means the earliest date on which, under the Plan, the Participant could elect to receive retirement benefits.

  • Joint and Survivor Annuity means an immediate annuity for the life of a Participant with a survivor annuity for the life of the Participant's Spouse which is not less than fifty percent (50%), nor more than one hundred percent (100%) of the amount of the annuity payable during the joint lives of the Participant and the Participant's Spouse which can be purchased with the Participant's Vested interest in the Plan reduced by any outstanding loan balances pursuant to Section 7.4.

  • Normal Retirement Age means the Executive's 65th birthday.

  • Primary Social Security Benefit means, with respect to any member, the primary insurance amount

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • life annuity means an annuity payable under a policy issued to an SRS member for a term ending with, or at a time ascertainable only by reference to, the end of his life;

  • Annuity Payments The series of payments made to the Owner or any named payee after the Annuity Date under the Annuity Option selected. ANNUITY PERIOD: The period of time beginning with the Annuity Date during which Annuity Payments are made.

  • Annuity Starting Date means, with respect to any Participant, the first day of the first period for which an amount is paid as an annuity, or, in the case of a benefit not payable in the form of an annuity, the first day on which all events have occurred which entitles the Participant to such benefit.

  • Social Security Benefit means the Primary Insurance Amount to which a Participant becomes entitled at age sixty-five (65) under Social Security legislation in effect on the earliest of his Normal Retirement Date, early retirement date or Termination Date.

  • Qualified Preretirement Survivor Annuity means an annuity which is payable for the life of the Participant's surviving spouse.

  • Age means the attained age of the Insured Person.

  • life cycle means all consecutive and/or interlinked stages, including research and development to be carried out, production, trading and its conditions, transport, use and maintenance, throughout the existence of the product or the works or the provision of the service, from raw material acquisition or generation of resources to disposal, clearance and end of service or utilisation;

  • Designated Beneficiary means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or becomes incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s estate.

  • Annuity Contract means a contract under which the issuer agrees to make payments for a period of time determined in whole or in part by reference to the life expectancy of one or more individuals. The term also includes a contract that is considered to be an Annuity Contract in accordance with the law, regulation, or practice of the jurisdiction in which the contract was issued, and under which the issuer agrees to make payments for a term of years.