Annuity Contract definition

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.

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Annuity Contract means an agreement concluded between an insurer in the course of the business of such an insurer and a natural person (hereinafter referred to as the purchaser), in terms of which -

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 and includes a contract 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;

Examples of Annuity Contract in a sentence

• The obligations of an Insurer shall be governed solely by the provisions of the Annuity Contract.

• Assets held in support of this Plan will be transferred to the designated funding medium under the new or restated plan and, if applicable, trust agreement, in the manner permitted under, and subject to the provisions of, the Annuity Contract.

• The handling of Contributions and Plan assets is governed by the provisions of the Trust Agreement and any other relevant document, such as an Annuity Contract (for the purposes of this paragraph alone, the Trust Agreement and such other documents will each be referred to as a “document” or collectively as the “documents”), duly entered into by or with regard to the Plan that govern such matters.

• The Insurer shall not be required to perform any act not provided in or contrary to the provisions of the Annuity Contract.

• Unless otherwise set out in the Plan or Annuity Contract, the Plan Administrator may delegate recordkeeping and other duties which are necessary to assist it with the administration of the Plan to any person or firm which agrees to accept such duties.

More Definitions of Annuity Contract

Annuity Contract means a fixed or variable annuity contract, other than a fixed or variable annuity contract issued (1) in connection with an employment- based plan subject to the Employee Retirement Income Security Act of 1974 or

Annuity Contract means any annuity contract, funding agreement, guaranteed investment contract or similar contract, including endorsements, riders and amendments thereto, and forms with respect thereto, issued, assumed, reinsured, exchanged, modified, marketed or administered by the Acquired Subsidiaries.

Annuity Contract means the following annuity contract(s) purchased and solely owned by the Bank: [a Flexible Premium Indexed Deferred Annuity Contract issued by Insurance Company, contract # and issued by Insurance Company, contract # or such other annuity contracts as the Bank may purchase from time to time].

Annuity Contract means a contract providing for the payment of an individual of a life annuity, and "registered annuity contract" means one which has been registered with the Commissioner in such manner as may be prescribed;

Annuity Contract means an annuity contract described in Section 403(b) of the Internal Reve- nue Code that is available to employees as described in Section 770.3 of the Insurance Code.

Annuity Contract means an individual or group annuity contract issued by an insurer to the Trustee for the purpose of funding annuity benefits under the Plan.

Annuity Contract means a nontransferable group or individual contract as defined in Code Sections 403(b)(1) and 401(g), established for each Participant by the University, or by each Participant individually, that is issued by an insurance company qualified to issue annuities in a State and that includes payment in the form of an annuity.