ALLOCATION OF NET PURCHASE PAYMENTS TO A VARIABLE SUBACCOUNT. The Owner may allocate Net Purchase Payments to any of the available Variable Subaccounts in accordance with the restrictions on the Contract Specifications. A Notice must be given to LNY if the Owner elects to allocate any Net Purchase Payment to a new Variable Subaccount not previously selected. Net Purchase Payments allocated to each Variable Subaccount will be invested at Net Asset Value Per Share of one of the Funds. Following receipt of a Net Purchase Payment, LNY will use each Net Purchase Payment to buy Accumulation Units in the Variable Subaccount(s) selected by the Owner.
Appears in 4 contracts
Samples: Single Life Annuities (Lincoln Life & Annuity Variable Annuity Account H), Single Life Annuities (Lincoln Life & Annuity Variable Annuity Account H), Lincoln Life & Annuity Variable Annuity Account H
ALLOCATION OF NET PURCHASE PAYMENTS TO A VARIABLE SUBACCOUNT. The Owner may allocate Net Purchase Payments to any of the available Variable Subaccounts in accordance with the restrictions on the Contract Specifications. A Notice must be given to LNY LNL if the Owner elects to allocate any Net Purchase Payment to a new Variable Subaccount not previously selected. Net Purchase Payments allocated to each Variable Subaccount will be invested at Net Asset Value Per Share of one of the Funds. Following receipt of a Net Gross Purchase Payment, LNY LNL will use each Net Purchase Payment to buy Accumulation Units in the Variable Subaccount(s) selected by the Owner.
Appears in 3 contracts
Samples: Lincoln National Life Insurance Co /In/, Lincoln National Variable Annuity Account H, Lincoln Life Variable Annuity Account N
