MISSTATEMENT OF AGE OR SEX. We may require proof of age of the Annuitant before making any life contingent Annuity Payment provided for by this Contract. If the age or sex of the Annuitant has been misstated, the amount payable will be the amount that the Contract Value would have provided at the true age or sex. Once Annuity Payments have begun, any underpayments, with interest at 5%, will be made up in one sum with the next Annuity Payment, and overpayments, with interest at 5%, will be deducted from the future Annuity Payments until the total is repaid. CONTRACT SETTLEMENT: This Contract must be returned to us upon any settlement.
MISSTATEMENT OF AGE OR SEX. We may require proof of Age of the Annuitant before making any life contingent Annuity Payment provided for by this Contract. If the Age or sex of the Annuitant has been misstated, the amount payable will be the Adjusted Contract Value that would have been provided at the true Age or sex. Once Annuity Payments have begun, any underpayments will be made up in one sum with the next Annuity Payment, and overpayments will be deducted from the future Annuity Payments until the total is repaid. The annual interest rate to be used in the calculation of the adjustments for underpayments and overpayments is 5%.
MISSTATEMENT OF AGE OR SEX. If the age or sex has been misstated, We will adjust the benefits We pay under this Contract to the amount that would have been payable at the correct age and sex. If We made any underpayments because of any such misstatement, We shall pay the amount of such underpayment plus interest at an annual effective rate of 3%, immediately to the Payee or Beneficiary in one sum. If We make any overpayment because of a misstatement of age or sex, We shall deduct from current or future payments due under this Contract, the amount of such overpayment plus interest at an annual effective rate of 3%.
Examples of MISSTATEMENT OF AGE OR SEX in a sentence
MISSTATEMENT OF AGE OR SEX -- The "Misstatement of Age or Sex" provision is modified to provide that we may also require proof of age of any Owner.
MISSTATEMENT OF AGE OR SEX If an age or sex has been misstated, the amounts payable or benefits provided by this Contract will be those that the Premium Payment made would have bought at the correct age or sex.
MISSTATEMENT OF AGE OR SEX If an age or sex has been misstated, the amounts payable or benefits provided by this Contract will be those that the premium payment made would have bought at the correct age or sex.
MISSTATEMENT OF AGE OR SEX We have the right to correct benefits for misstated age or sex.
MISSTATEMENT OF AGE OR SEX -- We may require proof of age or sex of the Annuitant before making any Annuity Payments under this Contract which are measured by the Annuitant's life.
More Definitions of MISSTATEMENT OF AGE OR SEX
MISSTATEMENT OF AGE OR SEX. If there has been a misstatement of the age and/or sex of any person upon whose life any amounts we are obligated to determine in order to make any payment, including charges and annuity payments, the Death Benefit or any increase to Account Value under the "Spousal Continuation" section, we will adjust such amounts to conform to that for the correct age and/or sex. As to annuity payments: (a) any underpayments by us will be remedied on the next payment following correction with interest at a rate not more than 6%; and (b) any overpayments by us will be charged against future amounts payable by us under your Annuity.
MISSTATEMENT OF AGE OR SEX. We may require proof at any time, in a form satisfactory to Us, of the age or sex of any Annuitant, Owner or Beneficiary if any payments and benefits under this Contract are based on such person's age and sex. If the age or sex of any such person has been misstated, any payments and benefits will be adjusted based on the correct age and sex of such person. Once annuity payments have begun, any amount We have overpaid as a result of such misstatement will be deducted from the next payment(s) made by Us under this Contract. Any amount We have underpaid will be paid in full with the next payment made by Us. We will pay interest on the underpayment at the rate required by the law of the state in which this Contract is delivered.
MISSTATEMENT OF AGE OR SEX. If the age or sex of the annuitant or any payee is misstated, we will adjust the Annuity Payments to reflect the correct age and sex. Any amount we have overpaid as a result of such misstatement will be deducted from future payments. Interest on the overpayment will be charged at the rate of 6% per year compounded annually. Any amount we have underpaid will be paid in full with the next payment. We will pay interest on the underpayment at the rate of 6% per year compounded annually.
MISSTATEMENT OF AGE OR SEX. If there has been a misstatement of the age and/or sex of any person upon whose life any amounts we are obligated to determine in order to make any payment, including charges and annuity payments, or the Death Benefit, we will adjust such amounts to conform to that for the correct age and/or sex. As to annuity payments: (a) any underpayments by us will be remedied on the next payment following correction with interest at a rate of 3%; and (b) any overpayments by us will be charged against future amounts payable by us under your Annuity.
MISSTATEMENT OF AGE OR SEX. If the Annuitant's age or sex is misstated, payments will be adjusted to the amount that would have been provided for at the correct age or sex. If payments have already commenced and the misstatement has caused an underpayment, the full amount due will be paid with the next scheduled payment. If the misstatement has caused an overpayment, the amount due will be deducted from one or more future payments. CONTRACT AMENDMENT: We will amend this Contract from time to time in cases where we are acting to comply applicable state law and/or regulation or with the United States Internal Revenue Code and/or regulations of the United States Treasury Department, or are acting to maintain the tax-deferred status of this Contract, pursuant to those provisions or regulations.
MISSTATEMENT OF AGE OR SEX. If the age or sex of any Annuitant has been misstated, any Annuity benefits payable will be the Annuity benefits provided by the correct age and sex. After Annuity Payments have begun, any underpayments will be made up in one sum with the next Annuity Payment. Any overpayments will be deducted from future Annuity Payments until the total is repaid.
MISSTATEMENT OF AGE OR SEX. We may require proof of Age of the Annuitant before making any life contingent Annuity Payment provided for by this Contract. If the Age or sex of the Annuitant has been misstated, the amount payable will be the amount that the amount available for Annuity Payments Contract Value would have provided at the true Age or sex. Once Annuity Payments have begun, any underpayments will be made up in one sum with the next Annuity Payment, and overpayments will be deducted from the future Annuity Payments until the total is repaid.