Your First Payment definition
Your First Payment. Date is shown in Section 1, Contract Specifications. If at any time the amount of a payment to a Payee is less than $100 (Our minimum payment), We may change the Frequency of Payment so that the payment is at least equal to the minimum. DETERMINATION OF THE VARIABLE ANNUITY PAYMENTS The portion of the Single Premium allocated to variable Annuity Payments will initially purchase Variable Annuity Units in the Subaccount(s) which You elect. We determine the number of Variable Annuity Units based upon:
Your First Payment. Date is shown in Section 1, Contract Specifications. If at any time the amount of a payment to a Payee is less than $100 (Our minimum payment), We may change the Annuity Payment Frequency so that the payment is at least equal to the minimum. Determination of the Variable Annuity Payments If at Contract Issue, You chose to receive Stabilized Payments, then Your initial Stabilized Payment is set equal to the Estimated First Variable Payment Amount. Stabilized Payments do not vary within a Contract Year. On each subsequent Contract anniversary, the Stabilized Payment is set equal to the current Supportable Payment. If at Contract Issue, You did not choose Stabilized Payments, then Your Variable Annuity Payments will fluctuate with each payment.
Examples of Your First Payment in a sentence
Your First Payment will only be processed after the Trial Period has been completed.
Your First Payment will be directly debited from your nominated bank account or credit card on the First Payment Date outlined in Clause 3.8. The remaining instalment payments for each Term will be directly debited on the dates outlined in Appendix 1.
Your First Payment will be directly debited from your nominated bank account or credit card on the First Payment Date outlined in Clause 3.6. The remaining instalment payments for each Term will be directly debited on the dates outlined in Appendix 1.