Single Life Contract definition

Single Life Contract means a Contract that is issued without either (i) a Successor Owner for a Contract where the Owner is an individual, or (ii) a Joint Annuitant for a Contract where the Owner is a Non-Natural Owner.
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Single Life Contract means a contract that is issued without a Successor Owner.
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Single Life Contract means a Contract under which withdrawals are guaranteed during your life.
Sample 1

Examples of Single Life Contract in a sentence

  • The Death Benefit amount payable upon the death of the Owner for a Single Life Contract, or in the case of a Joint Life Contract on the date of death of the second to die of the Owner and Successor Owner under the Contract when issued with this Rider, will be the greater of: 1) the ROP BB amount; (adjusted for any post-death withdrawals & Contributions or 2) the Death Benefit as described in Section [7.02] “Payment Upon Death” in your Contract.

  • INCOME MEASURING LIFE For a Single Life Contract, the “Income Measuring Life” is the person designated as Contract Owner (Annuitant in the event of a Non-Natural Owner) as shown in the Data Pages.

  • For a Single Life Contract with a Non-natural Owner, the Applicable Percentage is based on the Annuitant's age.

  • For Contracts with GMIB that converted to GWBL on the last GMIB Exercise Date under a Single Life Contract with Joint Owners or a Single Life Non-Natural Owner Contract with Joint Annuitants, for purposes of the Withdrawal Charge waivers below, in the event of death, items 1 and 6, reference to "Owner" means the older Owner or older Annuitant respectively.

  • All reasonable expenses, other than underwriting discounts and commissions, incurred by the Company in connection with registrations, filings or qualifications pursuant to Sections 2 and 3, including, without limitation, all registration, listing and qualifications fees, printers and accounting fees, and fees and disbursements of counsel for the Company related to registrations shall be paid by the Company.

  • If the Contract was purchased as a Single Life Contract, this substitution does not make it a Joint Life Contract.

  • An Excess Withdrawal occurs when either: (i) in a Single Life Contract you make a withdrawal before reaching age [59 1/2] (or in a Joint Life Contract you make a withdrawal before the younger individual reaches age [59 1/2]), or (ii) you withdraw more than your Guaranteed Annual Payment amount in any Contract Year.

  • Your Death Benefit amount under this Rider is determined by comparing the Annuity Account Value on the Payment Transaction Date to the HAV BB on the date of death of the Owner for a Single Life Contract, or in the case of a Joint Life Contract on the date of death of the second to die of the Owner and Successor Owner .

  • For 2007GWB(rev0208) 2 a Single Life Contract with a Non-natural Owner, the Applicable Percentage is based on the Annuitant's age.

  • Your Death Benefit amount under this Rider is determined by comparing the Annuity Account Value on the Payment Transaction Date to the HAV BB on the date of death of the Owner for a Single Life Contract, or in the case of a Joint Life Contract on the date of death of the second to die of the Owner and Successor Owner ..


More Definitions of Single Life Contract

Single Life Contract means a contract that is issued without a Successor Owner and without a Joint Annuitant.
Sample 1
Single Life Contract means a contract that is issued without either (i) for a Contract where the Owner is an individual, a Successor Owner [NQ only: or Joint Owner], or (ii) for a Contract where the Owner is a Non-Natural Owner, a Joint Annuitant. NQ ONLY: [A Single Life Contract where the Contract is individually owned and there is not a Successor Owner nor a Joint Owner may be issued with a Joint Annuitant.]
Sample 1

Related to Single Life Contract

  • Single Life Annuity means a Participant’s Grandfathered Benefit and/or 409A Benefit, as applicable, payable as an annuity in equal monthly installments over the life of the Participant, commencing as of the Payment Date and terminating in the month in which the Participant dies, with no further payments thereafter.

  • Annuity Contract means a contract under which the issuer agrees to make payments for a period of time determined in whole or in part by reference to the life expectancy of one or more individuals. The term also includes a contract that is considered to be an Annuity Contract in accordance with the law, regulation, or practice of the jurisdiction in which the contract was issued, and under which the issuer agrees to make payments for a term of years.

  • Life expectancy means life expectancy as computed by use of the Single Life Table in Section 1.401(a)(9)-9 of the Treasury regulations.

  • Group Annuity Contract means a master contract providing annuities to a group of persons under a single con- tract.

  • PTCE 95-60 As defined in Section 5.02(b). PUD: A planned unit development.

  • PPA means the Power Purchase Agreement signed between the successful bidder and MSEDCL according to the terms and conditions of the standard PPA enclosed with this RfS;

  • Minimum Lifetime Mortgage Rate The minimum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index.

  • Uniform Single Attestation Program for Mortgage Bankers The Uniform Single Attestation Program for Mortgage Bankers, as published by the Mortgage Bankers Association of America and effective with respect to fiscal periods ending on or after December 15, 1995.

  • Applicable Mortality Table means the 1983 Group Annuity Mortality Table; and

  • 100-year floodplain means any area of land that:

  • life policy means a contract in terms of which a person, in return for a premium, undertakes to -

  • Qualified Joint and Survivor Annuity means an immediate annuity for the life of the Participant with a survivor annuity for the life of the Spouse which is fifty percent (50%) of the amount of the annuity which is payable during the joint lives of the Participant and the Spouse and which is the amount of benefit which can be purchased with the Participant's Vested Account Balance.

  • 5-year Mid-Swap Rate means, in relation to a Reset Interest Period and the Reset Rate of Interest Determination Date in relation to such Reset Interest Period:

  • Minimum Generation Emergency means an Emergency declared by the Office of the Interconnection in which the Office of the Interconnection anticipates requesting one or more generating resources to operate at or below Normal Minimum Generation, in order to manage, alleviate, or end the Emergency.