Variable Annuity Payments definition

Variable Annuity Payments. The value of a variable annuity payment is based on the annuity units on the annuity date. The number of annuity units attributable to each subaccount under a contract remains fixed unless there is an exchange of annuity units.

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Variable Annuity Payments means a series of periodic payments which are not guaranteed as to dollar amount but which will increase or decrease to reflect the investment experience of the Common Stock Division of Separate Account B. Periodic payments made pursuant to the Flexible Income Option as described in Article IVA, Section 2, are not Variable Annuity Payments.

Variable Annuity Payments provisions in this Contract.

Examples of Variable Annuity Payments in a sentence

With respect to Fixed Annuity Payments, the amount of the Annuity Payment, and with respect to Variable Annuity Payments, the number of Annuity Units used to determine the Annuity Payment, is reduced as of the first Annuity Payment following the Annuitant's death.
ANNUITY UNIT A unit of measure used to compute Variable Annuity Payments.
At the time Fixed and/or Variable Annuity Payments commence, they will not be less than those that would be provided by a specific amount for any single premium immediate annuity contract offered by LNY at the time to the same class of annuitants.
Joint Life Annuity / Joint Life Annuity with Certain Period -- Fixed and/or Variable Annuity Payments will be made during the joint life of the Annuitant and a Joint Annuitant.
Life Annuity / Life Annuity with Certain Period -- Fixed and/or Variable Annuity Payments will be made for the lifetime of the Annuitant with no Certain Period, or life and a 10 year Certain Period, or life and a 20 year Certain Period.
You may elect to have the present value of the guaranteed Variable Annuity Payments remaining, as of the date due proof of the Annuitant's death is received at our Annuity Service Office, commuted at the Assumed Investment Return selected.
Joint Life and Two-Thirds to Survivor Annuity / Joint Life and Two-Thirds to Survivor Annuity with Certain Period -- Fixed and/or Variable Annuity Payments will be made during the joint life of the Annuitant and a Joint Annuitant.
Variable Annuity Payments will reflect the investment experience of the Separate Account in accordance with the allocation of the Account Value to the Subaccounts.
Variable Annuity Payments are not affected by expenses other than taxes.
Variable Annuity Payments will fluctuate with the performance of the Subaccount(s).

More Definitions of Variable Annuity Payments

Variable Annuity Payments. A series of payments made during the Annuity Period which vary in amount with the investment experience of each applicable Sub- Account.

Variable Annuity Payments. With respect to Variable Annuity Payments, the amounts shown on the Tables are the guaranteed minimum first Annuity Payment, based on the assumed interest rate of 3.5% for Annuity Option 1. The amount of each Annuity Payment after the first for these options is computed by means of Annuity Units. ALTERNATE ANNUITY OPTION RATES The Company may, at the time of election of an Annuity Option, offer more favorable rates in lieu of the guaranteed rates shown in the Annuity Tables. -11- BP 602641 -------------------------------------------------------------------------------- ANNUITY PAYMENT PROVISIONS (Continued) -------------------------------------------------------------------------------- ANNUITY OPTIONS OPTION 1 LIFE WITH 25 YEARS CERTAIN: This option provides payments for the life of the Annuitant with 25 years certain. Payments will be made to the end of this period certain even if the Annuitant dies prior to the end of the period. If the Annuitant dies before receiving all the payments during the fixed period. If the Annuitant dies before receiving all the payments during the fixed period, the remaining payments will be made to the Designated Beneficiary. Table A shows some of the guaranteed rates for this option.

Variable Annuity Payments start on the Annuity Commencement Date. Payments will vary in amount and are determined at the end of the Valuation Period that contains the tenth day prior to each payment. If the monthly payment under the Annuity Option selected is based on a single Division, the monthly payment is found by multiplying the Division Annuity Unit Value on such date by the number of Division Annuity Units. If the monthly payment under the Annuity Option selected is based upon more than one Division, the above procedure is repeated for each applicable Division. The sum of these payments is the Variable Annuity Payment. American Franklin guarantees that the amount of each payment will not be affected by variations in expense or mortality experience.