Period Certain Only definition

Period Certain Only. Periodic payments are made to the designated payee during the Annuitant's lifetime, with payments guaranteed for a specified period. You may choose to have payments guaranteed 5 through 30 years (in full years only). If the Annuitant dies before the guaranteed payments are completed, we pay to the Owner the remainder of the guaranteed payments. Additionally, if variable payments are elected under this option, you may redeem all remaining guaranteed variable payments after the Annuity Date. The amount available upon such redemption would be the present value of any remaining guaranteed variable payments at the assumed investment return. That is, the present value will be reduced by the amount needed to produce withdrawal proceeds equal to the amount of the annuity payment.
Period Certain Only. Periodic payments are made to the designated payee during the Annuitant's lifetime, with payments guaranteed for a specified period. You may choose to have payments guaranteed 7 through 30 years (in full years only). If the Annuitant dies before the guaranteed payments are completed, we pay to the Owner the remainder of the guaranteed payments. Additionally, if variable payments are elected under this option, you may redeem all remaining guaranteed variable payments after the Annuity Date. The amount available upon such redemption would be the present value of any remaining guaranteed variable payments at the assumed investment return. Any applicable withdrawal charge will be deducted from the present value as if you terminated the Contract. For purposes of calculating the withdrawal charge, annuity payments made prior to redemption will be treated as withdrawals. That is, the present value will be reduced by the amount needed to produce withdrawal proceeds equal to the amount of the annuity payment.
Period Certain Only. Periodic payments are made to the designated payee during the Annuitant's lifetime, with payments guaranteed for a specified period. You may choose to have payments guaranteed 5 through 30 years (in full years only). If the Annuitant dies before the guaranteed payments are completed, we pay to the Owner the remainder of the guaranteed payments. Additionally, if variable payments are elected under this option, you may redeem all remaining guaranteed variable payments after the Annuity Date. The amount available upon such redemption would be the present value of any remaining guaranteed variable payments at the assumed investment return. Any applicable withdrawal charge will be deducted from the present value as if you terminated the Contract. For purposes of calculating the withdrawal charge, annuity payments will be treated as withdrawals.

Examples of Period Certain Only in a sentence

  • If you do not choose the Period Certain Only Option, the amount will depend on the Age of the Annuitant(s), the Annuity Date, and the sex of the Annuitant(s), unless unisex factors apply.

  • If you elect annuity payments for a Period Certain Only, we also reserve the right to reduce the Period Certain to meet the $250 minimum first payment.

  • If you do not choose the Period Certain Only Option, the amount will depend on the Age of the Annuitant(s), the Annuity Date, and the sex of the Annuitant(s).

  • If you elect annuity payments for a Period Certain Only, we also reserve the right to reduce the Period Certain to meet the Minimum Annuity Payment as shown in the Contract Specifications.

  • If you elect annuity payments for a Period Certain Only, we also reserve the right to reduce the Period Certain to meet the first payment Minimum Annuity Payment as shown in the Contract Specifications.

  • If you do not choose the Period Certain Only Option, the amount will depend on the Age of the Annuitant(s), the Annuity Date, and the Gender of the Annuitant(s), unless unisex factors apply.

  • If you elect annuity payments for a Period Certain Only, we reserve the right to also reduce the Period Certain to meet the $250 minimum first payment.

  • If you do not choose the Period Certain Only Option, the amount will depend on the Age of the Annuitant(s), the Annuity Date, and the gender of the Annuitant(s), unless unisex factors apply.

  • If you elect annuity payments for a Period Certain Only (see ANNUITY OPTIONS), we also reserve the right to reduce the Period Certain to meet the $250 minimum first payment.

  • If this is a Non-Qualified Contract, or a Qualified Contract and the Annuitant is not married, your Annuity Option will be Period Certain Only for five years.

Related to Period Certain Only

  • Period 2 Two hundred eleven (211) days to one year after the Effective Date.

  • Special Enrollment Period means a period of time allowed under this Plan, other than the eligible person’s Initial Enrollment Period or an Open Enrollment Period, during which an eligible person can request coverage under this Plan as a result of certain events that create special enrollment rights.

  • Approved Leave of Absence means an absence from active service pursuant to an approved leave policy with a guaranteed right of reinstatement.

  • Open Enrollment Period means an enrollment period during which time any Eligible Employee and/or Dependent may apply to become a Subscriber and/or Covered Dependent, and existing Subscribers may apply to change to another provider network or coverage option, if available, or elect to terminate coverage.

  • FNMA Guides The FNMA Sellers' Guide and the FNMA Servicers' Guide, and all amendments or additions thereto.

  • Excused absence means an absence from school that is authorized by the local school administrator or local school corporation rule.

  • Fraud Loss Coverage Termination Date The point in time at which the Fraud Loss Coverage Amount is reduced to zero.

  • Budget Period means the fiscal period for which a budget is prepared.

  • Period End Date The 15th day of each calendar month, with Adjustment. Fixed Rate: [ ]%. Fixed Rate Day Count Fraction: 30/360. Floating Amounts: Floating Rate Payer: [ ]. Floating Rate Payer Payment Dates: The 15th day of each calendar month commencing on [ ], subject to adjustment in accordance with the Following Business Day Convention.

  • FNMA Guide FNMA’s Servicing Guide, as the same may be amended by FNMA from time to time.

  • Group Policy /”policy” means the breakdown policy as set out in this document;

  • Annual Enrollment Period or "Enrollment Period" means the period before each policy anniversary so designated by the Sponsor and Lincoln during which you may enroll for coverage under this policy.

  • Medicare Advantage plan means a plan of coverage for health benefits under Medicare Part C as defined in 42 U.S.C. 1395w-28(b)(1), and includes:

  • Leave of Absence Without Pay means to be absent from duty with permission but without pay.

  • Special Hazard Coverage Termination Date The point in time at which the Special Hazard Loss Coverage Amount is reduced to zero.

  • maternity or paternity leave of absence means, for Plan Years beginning after December 31, 1984, an absence from work for any period by reason of the Employee's pregnancy, birth of the Employee's child, placement of a child with the Employee in connection with the adoption of such child, or any absence for the purpose of caring for such child for a period immediately following such birth or placement. For this purpose, Hours of Service shall be credited for the computation period in which the absence from work begins, only if credit therefore is necessary to prevent the Employee from incurring a 1-Year Break in Service, or, in any other case, in the immediately following computation period. The Hours of Service credited for a "maternity or paternity leave of absence" shall be those which would normally have been credited but for such absence, or, in any case in which the Administrator is unable to determine such hours normally credited, eight (8) Hours of Service per day. The total Hours of Service required to be credited for a "maternity or paternity leave of absence" shall not exceed 501.

  • insurance period means a contribution period or an equivalent period;

  • Denial of Service Attack means an attack intended by the perpetrator to overwhelm the capacity of a "computer system" by sending an excessive volume of electronic data to such "computer system" in order to prevent authorized access to such "computer system".