JOINT AND LAST SURVIVOR ANNUITY. We will make Annuity Payments, payable at the frequency elected, during the joint lifetime of the Annuitant and the Joint Annuitant. Upon the death of either the Annuitant or Joint Annuitant, Annuity Payments will continue to be paid during the remaining lifetime of the survivor. Annuity Payments cease with the final Annuity Payment due prior to the last survivor's death. Option 4 -- Joint and Last Survivor Annuity with 10 Years of Annuity Payments Guaranteed -- We will make Annuity Payments, payable at the frequency elected, during the joint lifetime of the Annuitant and the Joint Annuitant. Upon the death of either the Annuitant or Joint Annuitant, Annuity Payments will continue to be paid during the remaining lifetime of the survivor. If at the last death of the Annuitant and the Joint Annuitant, there have been less than 10 years of Annuity Payments made as selected, Annuity Payments will continue to be made for the remainder of the Guaranteed Period. You may elect to have the present value of the guaranteed Variable Annuity Payments remaining, as of the date due proof of the Annuitant's death is received at our Annuity Service Office, commuted at the Assumed Investment Return selected. We will require the return of this Contract and proof of death prior to the payment of any commuted values. ANNUITY -- You can elect to have the Annuity Option payable as Fixed Annuity Payments or Variable Annuity Payments or a combination. Fixed Annuity Payments are guaranteed as to dollar amount. Variable Annuity Payments will reflect the investment experience of the Separate Account in accordance with the allocation of the Account Value to the Subaccounts. Unless another payee is designated, you will be the payee of the Annuity Payments. The Adjusted Account Value will be applied to the applicable Fixed and/or Variable Annuity Tables to determine your first Annuity Payment. The Adjusted Account Value is determined on the Annuity Calculation Date which is a Business Day no more than five Business Days prior to the Annuity Date. The Adjusted Account Value is the Account Value, less any Premium and Other Taxes or other applicable taxes and less the Account Fee. The amount of the first payment for each $1,000 of Adjusted Account Value is shown in the Annuity Tables. FIXED ANNUITY -- Fixed Annuity Payments are based upon the Annuity Option elected, the Annuitant's Attained Age and sex, and the appropriate Fixed Annuity Option Table. If, as of the Annuity Calculation Date,...
JOINT AND LAST SURVIVOR ANNUITY. We make Annuity Payments during the lifetimes of the Annuitant and Joint Annuitant. Upon the death of one Annuitant, Annuity Payments to the Payee continue during the lifetime of the surviving Joint Annuitant at a level of 100%, 75% or 50% of the previous amount, as selected by the Owner. The last payment will be the one that is due before the last surviving Joint Annuitant’s death.
JOINT AND LAST SURVIVOR ANNUITY. An annuity payable during the joint lifetime of the Annuitant and a designated second person, and thereafter during the remaining lifetime of the survivor, ceasing with the last payment prior to the death of the survivor. Income Plan 4. Payments for a Specified Period Certain - An amount payable for the number of years selected which may be from 5 to 30 years. The Owner may elect to receive the commuted value of the remaining variable income payments. The commuted value will be determined by discounting the remaining payments at the assumed investment rate used for the Income Plan. Income Plan 5. Annuity Plan - An amount can be used to purchase any single premium annuity we offer on the Income Date for which you and the Annuitant are eligible. [GRAPHIC OMITTED][GRAPHIC OMITTED] FLEXIBLE PAYMENT DEFERRED COMBINATION FIXED AND VARIABLE ANNUITY CONTRACT Surrender Values while you are living and prior to the Income Date Income Payments begin on the Income Date Nonparticipating
JOINT AND LAST SURVIVOR ANNUITY. Annuity payments are paid during the joint lifetime of the Annuitant and a designated second person and are paid thereafter during the remaining lifetime of the survivor, ceasing with the last annuity payment due prior to the survivor's death. FIXED ANNUITY OPTION The fixed dollar amount of each fixed annuity payment is determined by multiplying the available Contract Value (after the deduction of any premium taxes, if applicable, not previously deducted) by the factor in the Fixed Annuity Option Table for the option chosen, using the age and sex of the Annuitant and Joint Annuitant, if any, divided by 1,000. The tables are determined from the Annuity 2000 Table projected with Scale G to the year of annuitization, with interest at the rate of 3.00% per annum. ANNUITY OPTIONS (Continued) VARIABLE ANNUITY OPTION The amount of the first variable annuity payment depends on the Annuity Option elected and the age and sex of the Annuitant. This certificate contains a Variable Annuity Options Table indicating the dollar amount of the first monthly payment under each optional annuity form for each $1,000 of value applied. The tables are determined from the Annuity 2000 Table projected with Scale G to the year of annuitization, with interest at the rate of 5.00% per annum. The 5.00% interest rate assumed in the annuity tables would produce level annuity payments if the net investment rate remained constant at 5.00% per year. Subsequent payments will be less than, equal to, or greater than the first payment depending upon whether the actual net investment rate is less than, equal to, or greater than 5.00%. The dollar amount of the first variable annuity payment is determined by applying the available value (after deduction of any premium taxes, if applicable, not previously deducted) to the table using the age and sex of the Annuitant and any joint Annuitant. The number of Annuity Units is then determined by dividing this dollar amount by the then current Annuity Unit value. Thereafter, the number of Annuity Units remains unchanged during the period of annuity payments. This determination is made separately for each Subaccount of the Variable Account. The number of Annuity Units is determined for each Subaccount and is based upon the available value in each Subaccount as of the date annuity payments are to begin. The dollar amount determined for each Subaccount will then be aggregated for purposes of making payments. The dollar amount of the second and later variable...
JOINT AND LAST SURVIVOR ANNUITY. Monthly annuity payments are paid during the joint lifetime of the Annuitant and a designated second person and are paid thereafter during the remaining lifetime of the survivor ceasing with the last annuity payment due prior to the survivor's death.
JOINT AND LAST SURVIVOR ANNUITY. An annuity payable during the joint lifetime of the Annuitant and a designated second person, and thereafter during the remaining lifetime of the survivor, ceasing with the last payment prior to the death of the survivor. Income Plan 4. Payments for a Specified Period Certain - An amount payable for the number of years selected which may be from 5 to 30 years. The Owner may elect to receive the commuted value of the remaining variable income payments in a single sum. The commuted value will be determined by discounting the remaining payments at the assumed investment rate used for the Income Plan. Income Plan 5. Annuity Plan - An amount can be used to purchase any single premium annuity we offer on the Income Date for which the Owner and the Annuitant are eligible. THIS PAGE INTENTIONALLY LEFT BLANK DVA(MGC)-2001B [GRAPHIC OMITTED][GRAPHIC OMITTED] GROUP FLEXIBLE PAYMENT DEFERRED COMBINATION FIXED AND VARIABLE ANNUITY CONTRACT Surrender Values while the Owner is living and prior to the Income Date Income Payments begin on the Income Date Nonparticipating
JOINT AND LAST SURVIVOR ANNUITY. We make Annuity Payments during the lifetimes of the Annuitant and Joint Annuitant. Upon the death of one Annuitant, Annuity Payments to the Payee continue during the lifetime of the surviving Joint Annuitant at a level of 100%, 75% or 50% of the previous amount, as selected by the Owner. The last payment will be the one that is due before the last surviving Joint Annuitant’s death. L40538-NY 13 Annuity Payments continued from the previous page Option 4 – Joint and Last Survivor Annuity with a Guaranteed Period over 5, 10, 15 or 20 years We make Annuity Payments during the lifetimes of the Annuitant and Joint Annuitant. Upon the death of one Annuitant, Annuity Payments to the Payee continue during the lifetime of the surviving Joint Annuitant at 100% of the previous amount. If the surviving Joint Annuitant dies after the selected guaranteed period, the last payment will be the one that is due before the Annuitant’s death. However, if both Joint Annuitants die before the end of the selected guaranteed period, we continue to make Annuity Payments to the Payee for the rest of the guaranteed period. If the Payee and Annuitant were the same person, we will make payments to the Owner. If the Payee, Annuitant and Owner were the same person, we will make payments to the Beneficiary.
JOINT AND LAST SURVIVOR ANNUITY. An annuity payable during the joint lifetime of the Annuitant and a designated second person, and thereafter during the remaining lifetime of the survivor, ceasing with the last payment prior to the death of the survivor. INCOME PLAN 5. ANNUITY PLAN - An amount can be used to purchase any single premium annuity we offer on the Income Date for which you and the Annuitant are eligible. SCHEDULE Contract No.: 123456789 Owner: JOHN XXX Issue Age/Sex: 35/MALE Contract Date: 1/1/1998 Annuitant: JOHN XXX Issue Age/Sex: 35/MALE Income Date: 1/1/2038
JOINT AND LAST SURVIVOR ANNUITY. An annuity payable monthly during the joint lifetime of the Annuitant and a designated second person and continuing thereafter during the life of the survivor. If no settlement option is elected, Option 1 will automatically be applied. FREQUENCY AND AMOUNT OF ANNUITY PAYMENTS - Annuity payments will be paid as monthly installments. However, if the net amount available to apply under any settlement option is less than $5,000, the Company shall have the right to pay such amount in one single lump sum. In addition, if the payments provided for would be or become less than $30, the Company shall have the right to change the frequency of payments to such intervals as will result in payments of at least $30. VARIABLE ANNUITY - A Variable Annuity is an annuity with payments which: (1) are not predetermined as to dollar amount; and (2) will vary in amount with the net investment results of the applicable sub-account(s) of the Variable Account. At the Income Date the sub-account(s) Contract Value will be applied to the applicable Annuity Tables. The Annuity Table used will depend upon the Settlement Option chosen. The amount payable for the first payment for each $1,000 so applied is shown in the Tables on pages 11 and 12. If, as of the Income Date, the then current settlement option rates applicable to this class of contracts will provide a larger income than that guaranteed for the same form of annuity under this Contract, the larger amount will be paid. The dollar amount of annuity payments after the first is determined as follows:
JOINT AND LAST SURVIVOR ANNUITY. An annuity payable during the joint lifetime of the Annuitant and a designated joint annuitant and continuing thereafter during the remaining lifetime of the survivor.
