ANNUITY COMMENCEMENT DATE SELECTION. You select the Annuity Commencement Date. You may select any date following the fifth Contract Anniversary but before the required date of Annuity Commencement as shown in the Schedule. If you do not select a date, the Annuity Commencement Date will be in the month following the required date of Annuity Commencement.
ANNUITY COMMENCEMENT DATE SELECTION. The Certificate Owner may select any date as the Annuity Commencement Date following the fifth Certificate Anniversary but not later than the Certificate Processing Date next following the Annuitant’s 95th birthday. If the Certificate Owner does not select an Annuity Commencement Date, it will be the Certificate Processing Date next following the Annuitant’s 95th birthday. Annuity Payments will be made monthly unless the Certificate Owner directs us otherwise in writing. However, payments other than monthly, quarterly, semi-annually or annually require our consent. Each Annuity Payment must equal at least $20.00. If the option and frequency elected does not meet this minimum requirement, we have the right to make payments less frequently as necessary to do so. When the total value remaining under the Contract equals $2,000.00 or less, the next Annuity Payment will consist of the remaining value and will be disbursed as a lump sum. We have the right to increase these minimums based upon increases reflected in the Consumer Price Index for All Urban Consumers (CPI-U) since January 1, 2005. We will make the Annuity Payments under one or more of the Annuity Option(s). The Certificate Owner may elect or change an Annuity Option by making a written request at least thirty days prior to the Annuity Commencement Date. If no Annuity Option has been elected by the Annuity Commencement Date, Annuity Payments will be made under Option 2 on a 10-year fixed period basis, or less if required by government regulations. On or before the Annuity Commencement Date, the Certificate Owner may choose one or more Annuity Options for the payment of the Death Benefit. If, at the time of the Certificate Owner’s death, no Annuity Option has been chosen for paying the Death Benefit, the Beneficiary may choose an Annuity Option within one year. In such case, the Beneficiary is deemed the Annuitant for purposes of the Annuity Option. After the first Certificate Anniversary, the Certificate Owner may also elect an Annuity Option on full surrender of the Certificate. For each Annuity Option elected, we will issue a separate written agreement putting the Annuity Option into effect. Our approval is needed for any Annuity Option where:
ANNUITY COMMENCEMENT DATE SELECTION. You select the Annuity Commencement Date. You may select any date following the first Contract Anniversary but before the Required Date of Annuity Commencement stated below. On the Annuity Commencement Date, the age of the Annuitant plus the number of years payments are guaranteed must not exceed 100. If you do not select a date, the Annuity Commencement Date will be in the month following the required date of Annuity Commencement. In applying the Accumulation Value, we may first collect any Premium Taxes due us. If, on the Annuity Commencement Date, a Surrender Charge remains and you select Annuity Option 1, your Annuity Option must include a period certain of at least 10 years duration. Required Date of Annuity Commencement Distributions from a Contract funding a Qualified Plan must commence no later than April 1st of the calendar year following the calendar year in which you attain age 70 1/2. Otherwise, the Annuity Commencement Date may be no later than the same date as the Contract Processing Date in the month following the later of the Annuitant's 90th birthday or 10 years after the last Premium Payment.
ANNUITY COMMENCEMENT DATE SELECTION. You select the Annuity Commencement Date. You may select any date following the third Contract Anniversary but before the required date of Xxxxxxx Commencement as shown in the Schedule. If you do not select a date, the Annuity Commencement Date will be in the month following the required date of Annuity Commencement.
ANNUITY COMMENCEMENT DATE SELECTION. You select the Annuity Commencement Date. You may select any date following the third Contract Anniversary but before the required date of Xxxxxxx Commencement as shown in the Schedule. If you do not select a date, the Annuity Commencement Date will be in the month following the required date of Annuity Commencement. FREQUENCY SELECTION You choose the frequency of the Annuity Payments. They may be monthly, quarterly, semi-annually, or annually. If we do not receive written notice from you, the payments will be made monthly. THE INCOME PLAN While this Contract is in effect and before the Annuity Commencement Date, you may choose one or more Annuity Options for the payment of death benefit proceeds. If, at the time of the Owner's death, no Option has been chosen for paying death benefit proceeds, the Beneficiary may choose an Option within one year. You may also elect an Annuity Option on surrender of the Contract for its Cash Surrender Value. For each Option we will issue a separate written agreement putting the Option into effect. Our approval is needed for any Option where:
ANNUITY COMMENCEMENT DATE SELECTION. You select the Annuity Commencement Date. You may select any date following the first Contract Anniversary, but before the Required Date of Annuity Commencement stated below. On the Annuity Commencement Date, the age of the Annuitant plus the number of years payments are guaranteed must not exceed 100. If you do not select a date, the Annuity Commencement Date will be in the month following the Required Date of Annuity Commencement. In applying the Accumulation Value, we may first collect any Premium Taxes due us. Required Annuity Commencement Date Distributions from a Contract funding a Qualified Plan must commence no later than April 1st of the calendar year following the calendar year in which you attain age 70 1/2. Otherwise, the Annuity Commencement Date may be no later than the same date as the Contract Date in the month following the Annuitant's 90th birthday.
ANNUITY COMMENCEMENT DATE SELECTION. You select the Annuity Commencement Date. You may select any date following the first Contract Anniversary. Distributions from a Contract funding a Qualified Plan must commence no later than April 1st of the calendar year following the calendar year in which you attain age 70 1/2. Otherwise, the Annuity Commencement Date may be no later than the same date as the Contract Date in the month following the later of the Annuitant's 90th birthday or the 10th Contract Anniversary. In applying the Accumulation Value, we may first collect any Premium Taxes due us. On the Annuity Commencement Date, the age of the Annuitant plus the number of years payments are guaranteed must not exceed 100. If you do not select a date, the Annuity Commencement Date will be in the month following the later of the Annuitant's 90th birthday or the 10th Contract Anniversary.
ANNUITY COMMENCEMENT DATE SELECTION. You select the Annuity Commencement Date. You may select any date following the payment of the Single Premium Payment. If you do not select a date, the Annuity Commencement Date will be one month from the Contract Date. Prior to the termination of the Contract, you can assign your rights under this Contract to someone else. Such an assignment is not a change of Ownership. Consent of any Irrevocable Beneficiaries is required before any such assignment is effective. To assign your Contract, send a written, signed request to our Customer Service Center. The request must be in a form acceptable to us. The change will go into effect when we receive the assignment, or a copy, and it is recorded by us, subject to any payments we make or any actions we take before we record the change. We are not responsible for the validity or effect of any assignment, including any tax consequences.
ANNUITY COMMENCEMENT DATE SELECTION. Initial Premium Payment Frequency Selection Additional Premium Payments The Income Plan Your Right to Change Allocation of The Annuity Options Accumulation Value Payment When Named Person Dies Transfers from a Guaranteed Interest Division Limitation of Allocations Other Important Information........................................ 26
ANNUITY COMMENCEMENT DATE SELECTION. The Certificate Owner selects the Annuity Commencement Date. Any date may be selected following the first Certificate Anniversary but before the required date of Annuity Commencement as shown in each Certificate. On the Annuity Commencement Date, the age of the Annuitant plus the number of years payments are guaranteed must not exceed 100. If a date is not selected, the Annuity Commencement Date will be in the month following the required date of Annuity Commencement.
