ANNUITY BENEFIT PAYMENTS. An election to receive payments under an Annuity Payment Option must be made by the Maturity Date. If an Annuity Payment Option is not chosen prior to the Maturity Date, payments will commence to the Owner on the Maturity Date under the Annuity Payment Option providing a Life Annuity with annuity benefit payments guaranteed for 10 years. The Maturity Date is set forth on the Contract Data Page. Upon written request by the Owner and any Beneficiary who cannot be changed, the Maturity Date may be deferred. Purchase Payments may be made until the new Maturity Date. If the Maturity Date is extended, LNL reserves the right to restrict the availability of certain Annuity Payment Options.
ANNUITY BENEFIT PAYMENTS. An election to receive payments under an Annuity Payment Option must be made by the Maturity Date. If an Annuity Payment Option is not chosen prior to the Maturity Date, payments will commence to the Owner on the Maturity Date under the Annuity Payment Option providing a Life Annuity with annuity benefit payments guaranteed for 10 years. The Maturity Date is set forth on the Contract Data Page(s). Upon written request by the Owner and any Beneficiary who cannot be changed, the Maturity Date may be deferred. Purchase Payments may be made until the new Maturity Date. If the Maturity Date is extended, LNL reserves the right to restrict the availability of certain Annuity Payment Options. Any Contract Value from a Fixed Sub-account applied to an Annuity Payment Option will be exempt from a Market Value Adjustment. Any Purchase Payment that is applied to an Annuity Payment Option within 12 months of the receipt of the Purchase Payment will be subject to a CDSC (see Section 5.05).
ANNUITY BENEFIT PAYMENTS. Annuity Benefit payments will be made to the Participant as payee unless amounts are paid as a transfer or rollover to an annuity or tax-qualified account as permitted by federal tax law. Annuity Benefit payments that are still payable after the death of the payee will be made to the contingent payee that designated by the Participant. If there is no such contingent payee surviving, then such payments will be made to the person or persons designated as contingent payee by the last payee who received payments. Failing that, such payments will be made to the estate of the last payee who received payments. A designation or change of a payee or contingent payee must be made by Written Request. Unless it has been specified that a prior designation is irrevocable, a Participant may change the payee or contingent payee at any time. The Participant will be the person on whose life Annuity Benefit payments are based. No change of payee or contingent payee at any time will change this. Form of Annuity Benefit Annuity Benefit payments will be made annually under the terms of Option B with a fixed period of ten (10) years, as described in the SETTLEMENT OPTIONS section of this Contract. In lieu of that, a Participant may elect to have Annuity Benefit payments made pursuant to any other available option that is described in the SETTLEMENT OPTIONS section of this Contract. Such an election must be made before the Annuity Commencement Date. A Participant may change his or her election so long as we receive the request for a change at least thirty (30) days prior to the date that Annuity Benefit payments are scheduled to begin. Any election or change of election must be made by Written Request. An election of a settlement option may be subject to restrictions stated in the tax qualification endorsement.
ANNUITY BENEFIT PAYMENTS. An annuity benefit payment is a periodic income payable to You. If this contract is in force and the Annuitant is living, an annuity benefit payment becomes payable upon the earlier of the date You request payments begin or the Annuitization Date. You may apply all or a portion of the accumulated value to an annuity benefit payment option at any time prior to the Annuitization Date by sending Us Notice at Our office. Contract values applied to an annuity benefit payment option will be based on the accumulated value as of the date We receive Notice, and such application will reduce Your accumulated value accordingly. We reserve the right to limit the number of partial annuitizations that may be requested in a Contract Year, but it will never be less than one per Contract Year. If the entire accumulated value is applied to an annuity benefit payment option, this contract will end. Annuity benefit payments will not be less than those provided by using the accumulated value to purchase any comparable single premium immediate annuity contract We offer at the time to the same class of annuitants.
ANNUITY BENEFIT PAYMENTS. The Account Value of the Participant as of the Annuity Commencement Date, reduced by any fees and charges, loans, or applicable premium tax or other taxes not previously deducted, will be used to provide Annuity Benefit payments. Annuity Benefit payments will be made to the Participant as payee. The Participant will be the person on whose life any Annuity Benefit payments are based. Annuity Benefit payments that are still payable after the death of the Participant will be made to the contingent payee designated by the Participant by Written Request. If no contingent payee that the Participant has designated is surviving, then Annuity Benefit payments that remain payable will be made to the person or persons designated as contingent payee by Written Request by the last payee who received payments. Failing that, such payments will be made to the estate of the last payee who received payments.
ANNUITY BENEFIT PAYMENTS. Annuity Benefit payments under the Life Contingent Annuity begin at the Initial Benefit Payment Date stated in the Certificate and continue (a) for the lifetime of the Annuitant or (b) if the Annuity Benefit is purchased on a survivorship basis as elected by the Owner, for as long as at least one of the Annuitants named in the Certificate is living. The Annuity Benefit form elected by the Owner at issue will be set forth in the Certificate. The form of the Annuity Benefit may not be changed. Annuity Benefit payments will be made as set forth in the Certificate. They may be made monthly, quarterly or annually. If Equitable does not receive written notice from the Owner, the payments will be made annually. Equitable reserves the right to change the frequency to meet its minimum payment rules, as described in the Certificate.
ANNUITY BENEFIT PAYMENTS. An election to receive payments under an Annuity Payment Option must be made by the Maturity Date. If an Annuity Payment Option is not chosen prior to the Maturity Date, payments will commence to the Owner on the Maturity Date under the Annuity Payment Option providing a life annuity with annuity benefit payments guaranteed for 10 years. The Maturity Date is set forth on the Contract Data Page(s). Upon written request by the Owner and any Beneficiary who cannot be changed, the Maturity Date may be deferred. Purchase Payments may be made until the new Maturity Date. If the Maturity Date is extended, LNL reserves the right to restrict the availability of certain Annuity Payment Options. Any Purchase Payment that is applied to an Annuity Payment Option within 12 months of receipt of the Purchase payment will be subject to a CDSC (see Section 5.05).
ANNUITY BENEFIT PAYMENTS. An annuity benefit payment is a periodic income payable to You. If this contract is in force and the Annuitant is living, an annuity benefit payment becomes payable upon the earlier of the date You request payments begin or the Annuitization Date. You may apply all or a portion of the Accumulated Value, adjusted for the Bond Adjustment, to an annuity benefit payment option at any time after the second Contract Anniversary and prior to the Annuitization Date by sending Us Notice at Our office. Contract values applied to an annuity benefit payment option will be based on the Accumulated Value, adjusted for the Bond Adjustment, as of the date We receive the Notice in Good Order, and such application will reduce Your Accumulated Value accordingly. We reserve the right to limit the number of partial Annuitizations that may be requested in a Contract Year, but it will never be less than one per Contract Year. If the entire Accumulated Value is applied to an annuity benefit payment option, this contract will terminate. SF 1027 9
ANNUITY BENEFIT PAYMENTS. An election to receive payments under an Annuity Payment Option must be made by the Maturity Date. If an Annuity Payment Option is not chosen prior to the Maturity Date, payments will commence to the Owner on the Maturity Date under the Annuity Payment Option providing a life annuity with annuity benefit payments guaranteed for 10 years. The Maturity Date is set forth on the Contract Data Pages. Upon written request by the Owner and any Beneficiary who cannot be changed, the Maturity Date may be deferred. Purchase Payments may be made until the new Maturity Date. Any Contract Value from a Fixed Sub-account applied to an Annuity Payment Option will be exempt from a Market Value Adjustment.
ANNUITY BENEFIT PAYMENTS. An election to receive payments under an Annuity Payment Option must be made by the Maturity Date. If an Annuity Payment Option is not chosen prior to the Maturity Date, payments will commence to the Owner on the Maturity Date under the Annuity Payment Option providing a Life Annuity with annuity benefit payments guaranteed for 10 years. The Maturity Date is set forth on the Contract Data Page(s). Upon written request by the Owner and any Beneficiary who cannot be changed, the Maturity Date may be deferred. Purchase Payments may be made until the new Maturity Date.
