ALLOCATION OF PURCHASE PAYMENTS TO A VARIABLE SUBACCOUNT. The Owner may allocate 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 Purchase Payment to a new Variable Subaccount not previously selected. 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 Purchase Payment, LNY will use each Purchase Payment to buy Accumulation Units in the Variable Subaccount(s) selected by the Owner.
Appears in 22 contracts
Samples: Annuity Contract (Lincoln New York Account N for Variable Annuities), Annuity Contract (Lincoln Life & Annuity Variable Annuity Account H), Annuity Contract (Lincoln Life & Annuity Variable Annuity Account H)
ALLOCATION OF PURCHASE PAYMENTS TO A VARIABLE SUBACCOUNT. The Owner may allocate 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 Purchase Payment to a new Variable Subaccount not previously selected. 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 Purchase Payment, LNY LNL will use each Purchase Payment to buy Accumulation Units in the Variable Subaccount(s) selected by the Owner.
Appears in 5 contracts
Samples: Annuity Contract (Lincoln National Life Insurance Co /In/), Annuity Contract (Lincoln Life Variable Annuity Account W), Annuity Contract (Lincoln Life Variable Annuity Account W)
