Settlement Options definition

Settlement Options. An Annuity may be issued in any of the forms described below, or such other forms which SAFECO agrees to issue under this Contract. Options (a), (b), and (c) are irrevocable once they have begun. Option
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Settlement Options means the annuitization options described under “Settlement Options” in Section IV of this contract. The Settlement Options available on the Contract Date are shown on the Specifications Pages.
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Settlement Options. All amounts payable under the Policy, including, but not limited to, Death Benefit Proceeds and any proceeds from any surrender, partial withdrawal or Policy loan will be paid in a lump sum unless the Owner elects by Request to have all or a portion of such amounts paid under a different settlement option that the Company may then be offering.
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Examples of Settlement Options in a sentence

  • A death benefit is also payable under those Settlement Options which provide for death benefits.

  • This Contract provides for payments under one of the Annuity or Settlement Options described below.

  • For purposes of the Settlement Options below, the Beneficiary will be the Annuitant.

  • Additionally, the Beneficiary may elect to receive the Death Benefit under one of the Settlement Options described below, subject to the satisfaction of section 72(s) of the Internal Revenue Code, as amended.

  • ANNUITY AND SETTLEMENT OPTIONS: This Contract provides for payments under one of the Annuity or Settlement Options described below.

  • Subject to conditions stated in Elections Of Settlement Options and Minimum Amounts, all or any part of the Cash Surrender Value of this Contract may be paid under one or more of the Annuity Options below.

  • Interest on Proceeds.--We will hold the proceeds at interest under Option 3 of the Settlement Options provision.

  • The “Settlement Options” are the methods of distribution described in the Settlement Options section of your contract.

  • Interest on Proceeds.--We will hold the proceeds at interest under Interest Payment Option of the Settlement Options provision.

  • You may also choose any other Settlement Option We currently offer by Notifying Us. All Settlement Options are for a minimum of 5 years.


More Definitions of Settlement Options

Settlement Options are the methods of distribution described in the Settlement Options section of Your Contract. We may require proof of the correct age and gender of an Annuitant before making annuity payments. An election of a Settlement Option must be made in writing by the Owner and is irrevocable on or after the Annuity Date. If a Settlement Option has not been elected prior to the Annuity Date, one of the following two payment provisions will apply: • If there is one living Annuitant on the Annuity Date, the Interim Value of Your Contract will be applied to provide annuity payments for the longer of the lifetime of the Annuitant or five years; or RIA I (05/19) Page 5 RIA I (05/19) • If there are two living Joint Annuitants on the Annuity Date, the Interim Value of Your Contract will be applied to provide annuity payments in the same monthly amount for the longer of the lifetimes of both Joint Annuitants or five years.
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Related to Settlement Options

  • Investment Options means the investment options, as determined from time to time by the Committee, used to credit earnings, gains and losses on Account balances.

  • Replacement Options means options to acquire shares of Acquisitionco (or one of its Affiliates) granted in exchange for Company Options pursuant to an Employee Rollover Agreement;

  • Investment Option means any of the guaranteed investments and variable investment funds available under the Plan.

  • Phantom Shares means an Award of the right to receive Shares issued at the end of a Restricted Period which is granted pursuant to Section 6(e) of the Plan.

  • Settlement Funds means Standard Settlement Funds and Maximizing Settlement Funds.