Annuity Payments definition

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 Payments. Annuity payments under Option 1 and 2 above do not fluctuate. The Account Value on the Annuity Date, less any applicable Tax Charges, is used to determine the annuity payments. The payment amount will be determined based on the annuity rates for the annuity option and the frequency of payment selected. The annuity rates per $1,000 of value for Monthly Annuity Payments under Options 1 and 2 above will not be less than those shown in the Annuity Tables.

Annuity Payments. The series of payments made to you or any named payee after the Income Date under the Annuity Option selected.

Examples of Annuity Payments in a sentence

• For Variable Annuity Payments, the Variable Annuity Tables are based on the Annuity 2000 Mortality Table with 7-year age setback and an Assumed Investment Return (AIR) of 3.00%.

• This option provides Annuity Payments for the life of the Annuitant.

• If the Annuitant dies before receiving the fixed number of Annuity Payments, any remaining Annuity Payments will be made to the Designated Beneficiary.

• The balance will be used to purchase the Annuity Benefit on the basis of either (i) the Tables of Guaranteed Annuity Payments or (ii) our then current individual annuity rates, whichever rates would provide a larger benefit with respect to the payee.

• The balance will be used to purchase the Annuity Benefit on the basis of either (i) the Tables of Guaranteed Annuity Payments or (ii) our then current annuity rates, whichever rates would provide a larger benefit with respect to the payee.

More Definitions of Annuity Payments

Annuity Payments. The periodic payment we make under an annuity payment option.

Annuity Payments. Annuity payments start at least 30 days after the annuity date, provided the annuitant is alive. All annuity payments are made to you, unless you elect otherwise.

Annuity Payments means the periodic payments made by the third party provider to the winner of an annuity prize who does not select the single lump sum cash payment option in accordance with Section ii hereof;

Annuity Payments. The series of payments made to the Annuitant, starting on the Income Date, under the Annuity Option selected.

Annuity Payments means, with respect to each Covered Life (and, if applicable to such Covered Life, each Contingent Life), the amount of periodic and single payments determined in accordance with Provision II of this Contract, and, with respect to any Beneficiary, the amount of any periodic and single payments owed after the death of a Covered Life or, if applicable, a Contingent Life, in each case as determined in accordance with Provision II of this Contract.

Annuity Payments means the monthly payments to be paid to the Annuity Payment Recipient pursuant to Section 8.1 of the Contract for 10 years (there will be no less than 120 Annuity Payments) and, in the case of a Contract which is not a TFSA, thereafter while the Annuitant lives;

Annuity Payments as used in this Agreement, shall mean (i) periodic payments made by the Ceding Company in the event that an Annuity annuitizes and (ii) the statutory reserve for an Annuity with a guaranteed withdrawal benefit that reaches zero. In the event that an Annuity annuitizes, the Reinsurer shall pay to the Ceding Company the Quota Share Percentage of each resulting Annuity Payment. In the event that the account balance of an Annuity with a guaranteed withdrawal benefit reaches zero, the Ceding Company will establish a payout annuity for the remaining benefit and the Reinsurer shall pay to the Ceding Company an amount equal to the Quota Share Percentage of the statutory reserve for that Annuity. The Reinsurer shall have no further obligation or liability with respect to any such annuitized Annuities.