ANNUITY DATE definition
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.
ANNUITY DATE. The Annuity Date must be at least two (2) years after the Contract Issue Date. The Annuity Date may not be later than the maximum date permitted under state law. Prior to the Annuity Date, the Owner subject to the above, may change the Annuity Date by an Authorized Request. Any change must be requested at least thirty (30) days prior to the new Annuity Date.
ANNUITY DATE. (“Annuity Start Date”) — The date shown in the Contract Specifications, or the date you later elect, if any, for the start of annuity payments if the Annuitant is still living and the Contract is in force; or if earlier, the date that annuity payments actually begin. Annuity Options — Income options available for a series of payments after the Annuity Date. Beneficiary — The person you name who may receive any death benefit proceeds or any remaining annuity benefits in accordance with the provisions of this Contract. Business Day — Any day on which the value of an amount invested in a Subaccount is required to be determined by applicable law which currently includes each day that both the New York Stock Exchange is open for trading and our administrative offices are open. If any transaction or event under this Contract is scheduled to occur on a day that does not exist in a given calendar period, or on a day that is not a Business Day, such transaction or event will be deemed to occur on the next following Business Day, unless otherwise stated. Calendar Year — A one-year period beginning January 1 and ending December 31. Code — The Internal Revenue Code of 1986, as amended. Contingent Annuitant — The person, if any, you select to become the Annuitant if the Annuitant dies before the Annuity Date. You may add or change the Contingent Annuitant prior to the Annuity Date provided the Contingent Annuitant is not the sole surviving Annuitant. Any Contingent Annuitant you name must not be older than the Maximum Owner(s) and/or Annuitant(s) Age as shown in the Contract Specifications as of the Contract Date. If you add or change a Contingent Annuitant after the Contract is issued, any newly-named or added Contingent Annuitant must not be older than the Maximum Owner(s) and/or Annuitant(s) Age as shown in the Contract Specifications at the time of such change or addition. If the Contract is owned by a Non-Natural Owner or if the Contract has a Joint Owner, you may not designate a Contingent Annuitant. Contingent Beneficiary — A person, if any, you select to become the Beneficiary if the Beneficiary predeceases the Owner (or Annuitant, in the case of a Non-Natural Owner). Contract Anniversary — The same date, in each subsequent year, as the Contract Date. Contract Date — The date we issued this Contract, as shown in the Contract Specifications. Contract Years, Contract Anniversaries, Contract Semiannual Periods, Contract Quarters and Contract Months are measured fr...
Examples of ANNUITY DATE in a sentence
If an Owner, who is not an Annuitant, dies after the Annuity Date and there are remaining annuity payments under the Annuity Option in effect at the time of the Owner’s death, payments will continue, and the Owner’s Contract rights will transfer following the order of the Line of Succession provision.
Subsequent annuity payments will be processed on the Business Day in each payment period that corresponds to the Annuity Date and will be made on the following Business Day.
Each year prior to the Annuity Date, we will provide the Owner(s) a report with the beginning and ending dates of the current reporting period.
If an Annuitant dies after the Annuity Date the following conditions apply: · If a joint Annuity Option is chosen, the annuity payments will be based on the life of the surviving Annuitant.
Transfers – On or before the Annuity Date and subject to the requirements and restrictions described in this section, you may Transfer all or part of the value from any Interest Crediting Option to other currently available Interest Crediting Options, while the Contract is in force.
More Definitions of ANNUITY DATE
ANNUITY DATE. The date the first Annuity or Settlement Payment to the Payee is due. The Annuity Date is shown on the original Contract Data pages. You must have our permission to change the Annuity Date. The maximum annuity age is age 90. If there is a new Annuitant due to the death of the Annuitant, and the new Annuitant is older than the prior Annuitant, the Annuity Date will be based on the age of the new Annuitant; however any such changed Annuity Date must be at least one year after the Contract Date, must be earlier than the date shown on the Contract Data pages, cannot be later than the Contract Anniversary next following the new Annuitant's 90th birthday and must be consistent with applicable law at the time. ANNUITY OR SETTLEMENT PAYMENTS: The series of payments made to you or any named payee after the Annuity Date as described under the Annuity or Settlement Option selected. ANNUITY PERIOD: The period of time, beginning on the Annuity Date, during which Annuity or Settlement Payments are made.
ANNUITY DATE. The date on which we apply your Account Value to the applicable annuity payout option and begin the Payout Period.
ANNUITY DATE. The date when annuity payments begin. This is shown on the contract data page.
ANNUITY DATE. The date on which Annuity payments begin under an Annuity option elected by the Certificate Holder. (see 4.01) The Annuity Date is shown on Contract Schedule I. The Certificate Holder may change this date by notifying Aetna at least 30 days prior to the Annuity Date.
ANNUITY DATE means the date on which annuity payments begin. It is shown in the policy schedule pages.
ANNUITY DATE means the date when the policy value will be applied under Payment Option 1, unless you have elected to receive a lump sum payment of the cash surrender value. The Annuity Date is shown in the Policy Details unless later changed.
ANNUITY DATE. The date as of which the Contract Value, less any applicable premium tax, is applied to an Annuity Option.