Common use of ANNUITY OPTION Clause in Contracts

ANNUITY OPTION. The number of Annuity Units canceled from the variable Annuity Option will be equal in value to the amount of the Annuity Reserve transferred out of the Variable Account. The Annuity Reserve transferred out of the Variable Account is defined as the present value of the current variable payment discounted with mortality at the Assumed Investment Return. The amount transferred will purchase fixed Annuity Payments at current payout rates under the Annuity Option in effect and based on the Age and sex of the Annuitant, (where allowed), at the time of the transfer.

ANNUITY OPTION. The number of Annuity Units canceled from the variable Annuity Option will be equal in value to the amount of the Annuity Reserve transferred out of the Variable Account. The Annuity Reserve transferred out of the Variable Account is defined as the present value of the current variable payment discounted with mortality at the Assumed Investment Return. The amount transferred will purchase fixed Annuity Payments at current payout rates under the Annuity Option in effect and based on the Age and sex of the Annuitant, (where allowed), at the time of the transfer.

ANNUITY OPTION. The number of Annuity Units canceled from the variable Annuity Option will be equal in value to the amount of the Annuity Reserve transferred out of the Variable Account. The Annuity Reserve transferred out of the Variable Account is defined as the present value of the current variable payment discounted with mortality at the Assumed Investment Return. The amount transferred will purchase fixed Annuity Payments at current payout rates annuity payments under the Annuity Option in effect and based on the Age and sex of the Annuitant, (where allowed), ) of the Annuitant at the time of the transfer.

ANNUITY OPTION. The number of Annuity Units canceled from the variable Annuity Option will be equal in value to the amount of the Annuity Reserve transferred out of the Variable Account. The Annuity Reserve transferred out of the Variable Account is defined as the present value of the current variable payment discounted with mortality at the Assumed Investment Return. The amount transferred will purchase fixed Annuity Payments annuity payments at current payout rates under the Annuity Option in effect and based on the Age and sex of the Annuitant, (where allowed), ) of the Annuitant at the time of the transfer.