Common use of Purchase Payment Clause in Contracts

Purchase Payment. This amount is the actual Purchase Payment. GALIC reserves the right to pay premium taxes when due and deduct the amount from the Account Value when we pay the tax or at a later date. Each Purchase Payment will be allocated, as directed by the Contract Holder, among:

Purchase Payment. This amount is the actual Purchase Payment. GALIC reserves the right to pay premium taxes when due and deduct the amount from the Account Value when we pay the tax or at a later date. Each Purchase Payment will be allocated, as directed by the Contract Certificate Holder, among: