Common use of ANNUITY BENEFIT PAYMENTS Clause in Contracts

ANNUITY BENEFIT PAYMENTS. An election to receive payments under an Annuity Payment Option must be made by the Maturity Date. If an Annuity Payment Option is not chosen prior to the Maturity Date, payments will commence to the Owner on the Maturity Date under the Annuity Payment Option providing a Life Annuity with annuity benefit payments guaranteed for 10 years. The Maturity Date is set forth on the Contract Data Page(s). Upon written request by the Owner and any Beneficiary who cannot be changed, the Maturity Date may be deferred. Purchase Payments may be made until the new Maturity Date. If the Maturity Date is extended, LNL reserves the right to restrict the availability of certain Annuity Payment Options. Any Contract Value from a Fixed Sub-account applied to an Annuity Payment Option will be exempt from a Market Value Adjustment. Any Purchase Payment that is applied to an Annuity Payment Option within 12 months of the receipt of the Purchase Payment will be subject to a CDSC (see Section 5.05).

ANNUITY BENEFIT PAYMENTS. An election to receive payments under an Annuity Payment Option must be made by the Maturity Date. If an Annuity Payment Option is not chosen prior to the Maturity Date, payments will commence to the Owner on the Maturity Date under the Annuity Payment Option providing a Life Annuity life annuity with annuity benefit payments guaranteed for 10 years. The Maturity Date is set forth on the Contract Data Page(s). Upon written request by the Owner and any Beneficiary who cannot be changed, the Maturity Date may be deferred. Purchase Payments may be made until the new Maturity Date. If the Maturity Date is extended, LNL reserves the right to restrict the availability of certain Annuity Payment Options. Any Contract Value from a Fixed Sub-account applied to an Annuity Payment Option will be exempt from a Market Value Adjustment. Any Purchase Payment that is applied to an Annuity Payment Option within 12 months of the receipt of the Purchase Payment will be subject to a CDSC (see Section 5.05).

ANNUITY BENEFIT PAYMENTS. An election to receive payments under an Annuity Payment Option must be made by the Maturity Date. If an Annuity Payment Option is not chosen prior to the Maturity Date, payments will commence to the Owner on the Maturity Date under the Annuity Payment Option providing a Life Annuity with annuity benefit payments guaranteed for 10 years. The Maturity Date is set forth on the Contract Data Page(spage(s). Upon written request by the Owner and any Beneficiary who cannot be changed, the Maturity Date may be deferred. Purchase Payments may be made until the new Maturity Date. If the Maturity Date is extended, LNL reserves the right to restrict the availability of certain Annuity Payment Options. Any Contract Value from a Fixed Sub-account applied to an Annuity Payment Option will be exempt from a Market Value Adjustment. Any Purchase Payment that is applied to an Annuity Payment Option within 12 months of the receipt of the Purchase Payment will be subject to a CDSC (see Section 5.05).

ANNUITY BENEFIT PAYMENTS. An election to receive payments under an Annuity Payment Option must be made by the Maturity Date. If an Annuity Payment Option is not chosen prior to the Maturity Date, payments will commence to the Owner on the Maturity Date under the Annuity Payment Option providing a Life Annuity life annuity with annuity benefit payments guaranteed for 10 years. The Maturity Date is set forth on the Contract Data Page(s)Pages. Upon written request by the Owner and any Beneficiary who cannot be changed, the Maturity Date may be deferred. Purchase Payments may be made until the new Maturity Date. If the Maturity Date is extended, LNL LNY reserves the right to restrict the availability of certain Annuity Payment Options. Any Contract Value from a Fixed Sub-account applied to an Annuity Payment Option will be exempt from a Market Value Adjustment. Any Purchase Payment that is applied to an Annuity Payment Option within 12 months of the receipt of the Purchase Payment will be subject to a CDSC (see Section 5.05).