LIFE OPTION definition

LIFE OPTION. This option provides payments for the life of the Annuitant. Table A shows some of the guaranteed rates for this option. OPTION 2 LIFE WITH FIXED PERIOD OPTION: This option provides payments for the life of the Annuitant. A fixed period of 5, 10, 15 or 20 years may be chosen. Payments will made to the end of this period even if the Annuitant dies prior to the end of the period. If the Annuitant dies before receiving all the payments during the fixed period, the remaining payments will be made to the Designated Beneficiary. Table A shows some of the guaranteed rates for this option. OPTION 3 LIFE WITH INSTALLMENT OR UNIT REFUND OPTION: This option provides payments for the life of the Annuitant, with a period certain determined by dividing the Annuity Start Amount by the amount of the first payment. A fixed number of payments will be made even if the Annuitant dies. If the Annuitant dies before receiving the fixed number of payments, any remaining payments will be made to the Designated Beneficiary. Table A shows some of the guaranteed rates for this option. OPTION 4
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LIFE OPTION. This option provides payments for the life of the Participant. Table A shows some of the guaranteed rates for this option. OPTION 2 LIFE WITH FIXED PERIOD OPTION: This option provides payments for the life of the Participant. A fixed period of 5, 10, 15 or 20 years may be chosen. Payments will be made to the end of this period even if the Participant dies prior to the end of the period. If the Participant dies before receiving all the payments during the fixed period, the remaining payments will be made to the Designated Beneficiary. Table A shows some of the guaranteed rates for this option. OPTION 3 LIFE WITH INSTALLMENT OR UNIT REFUND OPTION: This option provides payments for the life of the Participant, with a period certain determined by dividing the Annuity Start Amount by the amount of the first payment. A fixed number of payments will be made even if the Participant dies. If the Participant dies before receiving the fixed number of payments, any remaining payments will be made to the Designated Beneficiary. OPTION 4
Sample 1

Examples of LIFE OPTION in a sentence

  • ANNUITY PAYMENT PROVISIONS (Continued) -------------------------------------------------------------------------------- ANNUITY OPTIONS OPTION 1 LIFE OPTION: This option provides payments for the life of the Participant.

  • SINGLE LIFE OPTION During the life of the Covered Person, the Single Life Option provides withdrawals of the Annual Income Amount until the Contract moves to the Settlement Phase or the Latest Permitted Annuity Date is reached.

  • SINGLE LIFE OPTION / JOINT LIFE OPTION SELECTED BY YOU: [ Single Life ] WITHDRAWAL BASE LIMIT: [$5,000,000].

  • MEASURING LIFE OPTION indicates how many natural persons are used to determine the benefit on behalf of an Annuitant under the GWB.

Related to LIFE OPTION

  • Shoe Option means the Initial Purchasers’ option to purchase up to seventy five million dollars ($75,000,000) aggregate principal amount of additional Notes as provided for in the Purchase Agreement.

  • Employee Option means an Option granted pursuant to Section 5.

  • 3(i) Option means an Option granted pursuant to Section 3(i) of the Ordinance to any person who is Non- Employee.

  • Director Option means an Option granted pursuant to Section 6.

  • Performance Option means an Incentive Stock Option or Nonqualified Stock Option, the grant of which or the exercisability of all or a portion of which is contingent upon the attainment of specified Performance Measures within a specified Performance Period.

  • Stock Option means a contractual right granted to an Eligible Person under Section 6 hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement.

  • Top-Up Option has the meaning set forth in Section 1.04(a).

  • Share Option means a Nonqualified Share Option or an Incentive Share Option.

  • Incentive Share Option means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision thereto.

  • Vested Option means any Option, which has already been vested according to the Vesting Dates.

  • Parent Stock Option means any option to purchase Parent Common Stock granted under any Parent Stock Plan.

  • 'Survivor's Option means, where applicable, the right of a holder of a Note to require the Company to repay such Note prior to its Stated Maturity upon the death of the owner of such Note, subject to the provisions hereof relating to such option."

  • Incentive Option means an option which satisfies the requirements of Code Section 422.

  • Parent Option means an option to purchase shares of Parent Common Stock.

  • Reload Option means any Option granted under Section 6(a)(iv) of the Plan.

  • Vested Options means the Options that have vested in accordance with Section 2.2 of this Agreement.

  • Replacement Option means an Option that is granted when a Participant uses a Common Share held or to be acquired by the Participant to exercise an Option and/or to satisfy tax withholding requirements incident to the exercise of an Option.

  • Unvested Option means an Option in respect of which the relevant Vesting Conditions have not been satisfied and as such, the Option Grantee has not become eligible to exercise the Option.

  • Vested Portion means, at any time, the portion of an Option which has become vested, as described in Section 3 of this Agreement.

  • Nonqualified Option means any Option that is not an Incentive Stock Option.

  • Company Stock Option means any option to purchase Company Common Stock granted under any Company Stock Plan.

  • Stock Reload Option means any option granted under Section 6.3, below, as a result of the payment of the exercise price of a Stock Option and/or the withholding tax related thereto in the form of Stock owned by the Holder or the withholding of Stock by the Company.

  • Option Right means the right to purchase Common Shares upon exercise of an option granted pursuant to Section 4 of this Plan.

  • Stock Options means the collective reference to "Incentive Stock Options" and "Other Stock Options".

  • Nonstatutory Stock Option means an Option not intended to qualify as an Incentive Stock Option.

  • Nonqualified Stock Option means an Option that is not an Incentive Stock Option.