Determining Annuity Amount definition

Determining Annuity Amount. We compute the annuity amount using the factors reflected in the Table of Guaranteed Immediate Annuities attached to this contract. However, if our current single premium, nonparticipating, immediate annuity rates for this class of group annuity contracts produce a higher monthly annuity than the Table of Guaranteed Immediate Annuities, then that more favorable annuity rate is applied.
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Determining Annuity Amount. We compute the annuity amount using the factors reflected in the Table of Guaranteed Immediate Annuities attached to this contract. However, if our current single premium, nonparticipating, immediate annuity rates for this class of group annuity contracts produce a higher monthly annuity than the Table of Guaranteed Immediate Annuities, then that more favorable annuity rate is applied. We will notifY each person of the annuity amount purchased.
Sample 1
Determining Annuity Amount. We compute the annuity amount using the annuitant's adjusted age on the Annuity Commencement Date and the factors shown in the Table of Guaranteed Immediate Annuities attached to this contract. Use of the adjusted age method results in a lower guaranteed annuity benefit than would be payable if the actual age method was used. However, if our current single premium nonparticipating immediate annuity rates for this class of group annuity contracts using the actual age method produces a higher monthly annuity than the Table of Guaranteed Immediate Annuities using the adjusted age method, then that more favorable rate will be applied.
Sample 1Sample 2

Examples of Determining Annuity Amount in a sentence

  • Determining Annuity Amount: We compute the annuity amount using the factors reflected in the Table of Guaranteed Immediate Annuities attached to this contract.

  • Determining Annuity Amount: We compute the annuity amount using the factors reflected in the Table of Guaranteed Immediate Annuities attached to the Contract.

  • Determining Annuity Amount: We compute the annuity amount using the factors reflected in the Table of Guaranteed Immediate Annuities attached to this certificate.

Related to Determining Annuity Amount

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.

  • Average Monthly Limit means the maximum allowable "Average Monthly Concentration" as defined in Section 22a-430-3(a) of the RCSA when expressed as a concentration (e.g. mg/l); otherwise, it means "Average Monthly Discharge Limitation" as defined in Section 22a-430-3(a) of the RCSA.