Common use of ANNUITY COMMENCEMENT DATE Clause in Contracts

ANNUITY COMMENCEMENT DATE. On the Effective Date, the Annuity Commencement Date is the oldest Owner's or Annuitant's {95th} birthday and is shown on the Schedule. The Owner may change the Annuity Commencement Date by Written Notice. The proposed Annuity Commencement Date must be at least 30 days beyond the date the request is received by the Company, and at least {3} years after the last Purchase Payment. You may not select an Annuity Commencement Date that occurs after the oldest Owner or Annuitant attains Age {95}. On the Annuity Commencement Date, we apply the Contract Value, less any applicable premium tax, to the Annuity Option you select and establish annuity income payments. Annuity Income Payments—You may elect to receive fixed income payments, variable income payments, or a combination of both using the same Annuity Option and certain period.

Appears in 3 contracts

Samples: Individual Flexible Premium Deferred Annuity Contract (Protective Variable Annuity Separate Account), Individual Flexible Premium Deferred Variable Annuity Contract (Protective Variable Annuity Separate Account), Individual Flexible Premium Deferred Annuity Contract (Protective Variable Annuity Separate Account)

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ANNUITY COMMENCEMENT DATE. On the Effective Date, the Annuity Commencement Date is the oldest Owner's or Annuitant's {95th} birthday and is shown on the ScheduleCertificate. The Owner may change the Annuity Commencement Date by Written Notice. The proposed Annuity Commencement Date must be at least 30 days beyond the date the request is received by the Company, and at least {3} years after the last Purchase Payment. You may not select an Annuity Commencement Date that occurs after the oldest Owner or Annuitant attains Age {95}. On the Annuity Commencement Date, we apply the Contract Value, less any applicable premium tax, to the Annuity Option you select and establish annuity income payments. Annuity Income Payments—You may elect to receive fixed income payments, variable income payments, or a combination of both using the same Annuity Option and certain period.

Appears in 2 contracts

Samples: Group Flexible Premium Deferred Annuity Contract (Protective Variable Annuity Separate Account), Group Flexible Premium Deferred Variable Annuity Contract (Protective Variable Annuity Separate Account)

ANNUITY COMMENCEMENT DATE. On the Effective Date, the Annuity Commencement Date is the oldest Owner's or Annuitant's {95th} birthday and 90th birthday. It is shown on the Schedule. The Owner may change the Annuity Commencement Date by Written Notice. The proposed Annuity Commencement Date must be at least 30 days beyond the date the written request is received by the Company, and at least {3} 10 years after the last most recent Purchase Payment. You may not select an Annuity Commencement Date that occurs after the oldest Owner Owner's or Annuitant attains Age {95}Annuitant's 90th birthday. On the Annuity Commencement Date, we will apply the your Contract Value, less any applicable premium tax, to the Annuity Option you select and establish to determine an annuity income paymentspayment. Annuity Income Payments—You may elect to receive a fixed income paymentspayment, a variable income paymentspayment, or a combination of both using the same Annuity Option and certain period.

Appears in 1 contract

Samples: Individual Flexible Premium Deferred Variable Annuity Contract (Protective Variable Annuity Separate Account)

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ANNUITY COMMENCEMENT DATE. On the Effective Date, the Annuity Commencement Date is the oldest Owner's or Annuitant's {95th} birthday and 90th birthday. It is shown on the ScheduleCertificate. The Owner may change the Annuity Commencement Date by Written Notice. The proposed Annuity Commencement Date must be at least 30 days beyond the date the written request is received by the Company, and at least {310} years after the last most recent Purchase Payment. You may not select an Annuity Commencement Date that occurs after the oldest Owner Owner's or Annuitant attains Age {95}Annuitant's 90th birthday. On the Annuity Commencement Date, we will apply the your Contract Value, less any applicable premium tax, to the Annuity Option you select and establish to determine an annuity income paymentspayment. Annuity Income Payments—You may elect to receive a fixed income paymentspayment, a variable income paymentspayment, or a combination of both using the same Annuity Option and certain period.

Appears in 1 contract

Samples: Group Flexible Premium Deferred Variable Annuity Contract (Protective Variable Annuity Separate Account)

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