Purchase Payment definition

Purchase Payment. A payment made toward this Contract.

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Purchase Payment. A payment made by or for an Owner with respect to this Contract.

Purchase Payment has the meaning assigned to that term in Section 2.03.

Examples of Purchase Payment in a sentence

The Fixed Account Value is equal to the Purchase Payment amount initially allocated to the Fixed Account or the Fixed Account Value on the most recent Contract Anniversary, whichever is applicable, including any transfers, plus any interest credited by us less any withdrawals taken including any Surrender Charges and less any other applicable fees.
You purchased the Contract with the Purchase Payment you paid, and the Contract became effective on the Contract Date as shown on your Contract data page.
We reserve the right to reject any Purchase Payment that exceeds $1 million.
If the death of the original Owner precedes the death of the new Owner and the Purchase Payment exceeds the Contract Value as of the date we receive proof of the original Owner’s death, the difference between the Purchase Payment, reduced proportionally for partial withdrawals, and the Contract Value will be added to the Fixed Account on this date.
The Purchase Payment must be in lawful currency of the United States and submitted to our Home Office, or in a manner agreed to by us.

More Definitions of Purchase Payment

Purchase Payment. (s): Payment(s) accepted by Aetna at its home office. Aetna reserves the right to refuse to accept any Purchase Payment at any time for any reason. No advance notice will be given to the Contract Holder or Certificate Holder.

Purchase Payment. The gross payment accepted by Us and allocated to the Certificate Holder's Account. We reserve the right to refuse to accept any Purchase Payment at any time for any reason.

Purchase Payment. A cash consideration (a "premium"), in currency of the United States of America, given to us in exchange for the rights, privileges and benefits outlined in this Annuity.

Purchase Payment has the meaning set forth in Section 8.2.1.

Purchase Payment shall have the meaning assigned to it in Section ---------------- 2.

Purchase Payment. A Purchase Payment less any applicable Premium Tax.

Purchase Payment. A payment made by or on behalf of a Certificate Owner with respect to a Certificate. Sub-account: Variable Account assets are divided into Sub-accounts. Assets of each Sub-account will be invested in shares of a Portfolio of an Eligible Fund, or directly in portfolio securities.