Common use of ANNUITY PAYMENT OPTIONS Clause in Contracts

ANNUITY PAYMENT OPTIONS. During the Annuitant’s life, upon written election and the return of this Contract to the Company at its Annuity Service Center, the Contract Value may be applied to provide one of the following options or any annuity payment option that is mutually agreeable. After two years from the Contract Date, and prior to the Annuity Date, You can choose one of the options described below. If no option has been elected by the Annuity Date, You will automatically receive Option 4 below with 120 monthly payments guaranteed. Payments payable to a Payee during the lifetime of the Annuitant. No further payments are payable after the death of the Annuitant.

ANNUITY PAYMENT OPTIONS. During the Annuitant’s 's life, upon written election and the return of this Contract to the Company at its Annuity Service Center, the Contract Value may be applied to provide one of the following options or any annuity payment option that is mutually agreeable. After two years from the Contract Date, and prior to the Annuity Date, You can choose one of the options described below. If no option has been elected selected by the Annuity Date, You will automatically receive Option 4 below option 4, below, with 120 monthly payments guaranteed. OPTIONS 1 - LIFE ANNUITY, LIFETIME MONTHLY PAYMENTS GUARANTEED Payments payable to a Payee during the lifetime of the Annuitant. No further payments are payable after the death of the Annuitant.