Annuity payment plan payments Sample Clauses

Annuity payment plan payments. Payments made in the event of the death of the owner or annuitant. Withdrawal Order We use this order to determine withdrawal charges. o First, withdrawals up to 10% of your prior contract anniversary contract value (initial purchase payment in the first contract year) not previously withdrawn during this contract year. (No withdrawal charge.) o Next, withdrawals are from amounts representing contract earnings - if any - in excess of the annual 10% free withdrawal amount. (No withdrawal charge.) o Next, withdrawals are from purchase payments not previously withdrawn and which had been paid more than the number of years in the withdrawal charge period shown under Contract Data prior to withdrawal. (No withdrawal charge.) o Last, withdrawals are from purchase payments received that are still within the withdrawal charge period shown in the schedule under Contract Data. We withdraw these payments on a "first-in, first-out" (FIFO) basis. There is a withdrawal charge on these payments. Suspension or Delay in Payment of Withdrawal We have the right to suspend or delay the date of any withdrawal payment from the variable subaccounts for any period: