Common use of DESCRIPTION OF PAYMENT PLANS Clause in Contracts

DESCRIPTION OF PAYMENT PLANS. INSTALLMENT INCOME FOR SPECIFIED PERIOD (OPTION B) The Company will make monthly installment income payments providing for payment of benefits over a specified period of 10 to 30 years during the first five contract years and over a specified period of 5 to 30 years beginning with the sixth contract year. LIFE INCOME PLANS o SINGLE LIFE INCOME (OPTION C). The Company will make monthly payments for the selected certain period, if any, and thereafter during the remaining lifetime of the individual upon whose life income payments depend. The selections available are: (a) no certain period; or (b) a certain period of 10 or 20 years. o JOINT AND SURVIVOR LIFE INCOME (OPTION E). The Company will make monthly payments for a 10-year certain period and thereafter during the joint lifetime of the two individuals upon whose lives income payments depend and continuing during the remaining lifetime of the survivor. o OTHER SELECTIONS. The Company may offer other selections under the Life Income Plans.

DESCRIPTION OF PAYMENT PLANS. INSTALLMENT INCOME FOR SPECIFIED PERIOD (OPTION B) The Company will make monthly installment income payments providing for payment of benefits over a specified period of 10 to 30 years during the first five contract years and over a specified period of 5 to 30 years beginning with the sixth contract year. LIFE INCOME PLANS o SINGLE LIFE INCOME (OPTION C). The Company will make monthly payments for the selected certain period, if any, and thereafter during the remaining lifetime of the individual upon whose life income payments depend. The selections available are: (a) no certain period; or (b) a certain period of 10 or 20 years. o JOINT AND SURVIVOR LIFE INCOME (OPTION E). The Company will make monthly payments for a 10-year certain period and thereafter during the joint lifetime of the two individuals upon whose lives income payments depend and continuing during the remaining lifetime of the survivor. o OTHER SELECTIONS. The Company may offer other selections under the Life Income Plans.