Payout Options definition
Examples of Payout Options in a sentence
The attached payment rates for Annuity Payout Options 2 and 3 are based on mortality from 1983 Table a.
If we declare that Payout Options are to be credited with an interest rate above that guaranteed, it will apply to Payout Options I, II, III, and IV.
The Company will pay the Annuitant the first of a series of annuity payouts on the Annuity Commencement Date by applying the Owner’s Annuity Account Value according to the Payout Options provisions of this Contract.
Subject to the conditions within the Annuity Payout Options: General Provisions section of this contract, we will make annuity payments to you starting on the Annuity Commencement Date shown on the Contract Data page if the Annuitant is then living and this contract is in force on that date.
The Annuitant's (and any Joint Annuitant's, if applicable) life expectancy is used to determine the amount and duration of any Income Payments made under Payout Options involving life contingencies.
A Beneficiary may request that the death benefit be paid under one of the death benefit payout options shown in the Death Benefit Payout Options During the Accumulation Phase section.
If there is any remaining contingent deferred sales charge applicable as of the Annuity Date, we may restrict the availability of certain Annuity Payout Options we offer.
Refer to Article 6, section 6.10 for additional restrictions on Lifetime Only Payout Options.
During any Semi-Annual Benefit Leveling period, no withdrawals will be allowed from any Payout Options other than Certain Period Only.
Other Payout Options; When No Option Chosen; Interest Rate; Withdrawal Charges ANNUITY SETTLEMENT TABLES .................................................