Common use of CONTRACT LOANS Clause in Contracts

CONTRACT LOANS. Loans – If this Contract is issued under a Qualified Plan under Code Section 403 and the Qualified Plan permits, you may request a loan of a portion of the Contract Value, while the Annuitant is living and the Contract is in force. Loan Procedures – The loan request must be submitted on our Loan Request Form. You may submit a loan request thirty (30) days after the Contract Date and before the Annuity Date. However, before requesting a new loan, you must wait thirty (30) days after the last payment of a previous loan. If approved, the loan will usually be effective as of the end of the Business Day on which we receive all necessary documentation in a form satisfactory to us. We will normally forward proceeds of the loan to you within seven (7) calendar days after the effective date of the loan.

CONTRACT LOANS. Loans – If this Contract is issued under a Qualified Plan under Code Section 403 and the Qualified Plan permits, you may request a loan of a portion of the Contract Value, while the Annuitant is living and the Contract is in force. Loan Procedures – The loan request must be submitted on our Loan Request Form. You may submit a loan request thirty (30) days after the Contract Date and before the Annuity Date. However, before requesting a new loan, you must wait thirty (30) days after the last payment of a previous loan. If approved, the loan will usually be effective as of the end of the Business Day on which we receive all necessary documentation in a form satisfactory to usdocumentation. We will normally forward proceeds of the loan to you within seven (7) calendar days after the effective date of the loan.

CONTRACT LOANS. Loans – If this Contract is issued under a Qualified Plan under Code Section Sections 403 and the Qualified Plan permits, you may request a loan of a portion of the Contract Value, while the Annuitant is living and the Contract is in force. Loan Procedures – The loan request must be submitted on our Loan Request Form. You may submit a loan request thirty (30) days after the Contract Date and before the Annuity Date. However, before requesting a new loan, you must wait thirty (30) days after the last payment of a previous loan. If approved, the loan will usually be effective as of the end of the Business Day on which we receive all necessary documentation in a form satisfactory to us. We will normally forward proceeds of the loan to you within seven (7) calendar days after the effective date of the loan.