Common use of Payment of Benefits Clause in Contracts

Payment of Benefits. All or part of the contract benefits may be paid under one or more of the following: - a variable payment plan; - a fixed payment plan; or - in cash. The provisions and rate for variable and fixed payment plans are described in Section 11. Contract benefits may not be placed under a payment plan unless the plan would provide to each beneficiary a monthly income the initial amount of which is at least the minimum payment amount shown on page 4. A Withdrawal Charge will be deducted from contract benefits before their payment under certain conditions described in Section 7.3.

Appears in 8 contracts

Samples: NML Variable Annuity Account A, NML Variable Annuity Account B, NML Variable Annuity Account B

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Payment of Benefits. All or part of the contract Contract benefits may be paid under one or more of the following: - a variable payment income plan; - a fixed payment income plan; or - in cash. The provisions and rate rates for variable and fixed payment income plans are described in Section 11. Contract benefits may not be placed under a payment plan unless the plan would provide to each beneficiary a monthly income the initial amount of which is at least the minimum payment amount shown on page 4. A Withdrawal Charge will be deducted from contract benefits before their payment under certain conditions described in Section 7.3.

Appears in 6 contracts

Samples: NML Variable Annuity Account A, NML Variable Annuity Account B, NML Variable Annuity Account B

Payment of Benefits. All or part of the contract Contract benefits may be paid under one or more of the following: - a variable payment plan; - a fixed payment plan; or - in cash. The provisions and rate rates for variable and fixed payment plans are described in Section 11. Contract benefits may not be placed under a payment plan unless the plan would provide to each beneficiary a an initial monthly income the initial amount of which is at least the minimum payment amount shown on page 4. A Withdrawal Charge will be deducted from contract benefits before their payment under certain conditions described in Section 7.3.

Appears in 4 contracts

Samples: NML Variable Annuity Acct C of Northwestern Mut Life Ins Co, NML Variable Annuity Acct C of Northwestern Mut Life Ins Co, NML Variable Annuity Acct C of Northwestern Mut Life Ins Co

Payment of Benefits. All or part of the contract benefits may be paid under one or more of the following: - a variable payment plan; - a fixed payment plan; or - in cash. The provisions and rate rates for variable and fixed payment plans are described in Section 11. Contract benefits may not be placed under a payment plan unless the plan would provide to each beneficiary a an initial monthly income the initial amount of which is at least the minimum payment amount shown on page 4. A Withdrawal Charge will be deducted from contract benefits before their payment under certain conditions described in Section 7.3.

Appears in 4 contracts

Samples: NML Variable Annuity Account A, NML Variable Annuity Account B, NML Variable Annuity Account B

Payment of Benefits. All or part of the contract benefits may be paid under one or more of the following: - a variable payment plan; - a fixed payment plan; or - in cash. The provisions and rate rates for variable and fixed payment plans are described in Section 11. Contract benefits may not be placed under a payment plan unless the plan would provide to each beneficiary a an initial monthly income the initial amount of which is at least the minimum payment amount shown on page 4. A Withdrawal Charge will be deducted from contract benefits before their payment under certain conditions described in Section 7.37.4.

Appears in 2 contracts

Samples: NML Variable Annuity Account B, NML Variable Annuity Account B

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Payment of Benefits. All or part of the contract benefits may be paid under one or more of the following: - a variable payment plan; - a fixed payment plan; or - in cash. The provisions and rate rates for variable and fixed payment plans are described in Section 11. Contract benefits may not be placed under a payment plan unless the plan would provide to each beneficiary a an initial monthly income the initial amount of which is at least the minimum payment amount shown on page 4. A Withdrawal Charge will be deducted from contract benefits before their payment under certain conditions described in Section 7.3.

Appears in 2 contracts

Samples: NML Variable Annuity Account B, NML Variable Annuity Account B

Payment of Benefits. All or part of the contract benefits may be paid under one or more of the following: - a variable payment plan; - a fixed payment plan; or - in cash. The provisions and rate for variable and fixed payment plans are described in Section 1110. Contract benefits may not be placed under a payment plan unless the plan would provide to each beneficiary a monthly income the initial amount of which is at least the minimum payment amount shown on page 4. A Withdrawal Charge will be deducted from contract benefits before their payment under certain conditions described in Section 7.36.3.

Appears in 1 contract

Samples: NML Variable Annuity Account B

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