Annuity Payout Options Sample Clauses

Annuity Payout Options. The Certificate Holder may choose to receive Annuity Payments under one of the following options: (a) For the life of one or two persons; (b) For a stated period; or (c) For some combination of (a) and (b).
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Annuity Payout Options. The Contract Holder may choose to receive Annuity Payments under one of the following options: (a) For the life of one or two persons; (b) For a stated period; or (c) For some combination of (a) and (b).
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Annuity Payout Options. Option 1 - Life Annuity without Guaranteed Period: The Company will make monthly fixed annuity payments for the lifetime of the Annuitant. The Company does not guarantee a minimum number of annuity payments. * Option 2 - Life Annuity with Ten (10) Year Guaranteed Period: The Company will make monthly fixed annuity payments during the lifetime of the Annuitant. Payments are guaranteed for a period of ten (10) years. If the Annuitant dies sooner, payments will be made during the remaining period to the beneficiary designated by the Annuitant. The beneficiary may elect to be paid the present value of the then remaining number of fixed annuity payments. If the beneficiary dies while receiving such payments, the present value of the remaining number of fixed annuity payments will be paid in one sum to the beneficiary's estate. The present value of such annuity payments will be derived using the interest rate which was used in computing the monthly payment. If any designated beneficiary dies before the Annuitant, the interest of that beneficiary will pass to the designated surviving beneficiary. If more than one beneficiary survives the Annuitant, such interest will pass to the surviving beneficiaries in proportion to their respective interest, unless otherwise previously specified by the Annuitant. If no designated beneficiary survives the Annuitant, and no other designation is provided, the benefit provided under this annuity option will be paid in one sum to the Annuitant's estate. * Option 3 - Joint and Two-Thirds to Survivor Annuity. This option requires the Annuitant to select a joint annuitant. The Company will make monthly fixed annuity payments while the Annuitant and the joint annuitant are living. When either the Annuitant or the joint annuitant dies, the Company will continue to pay, for the lifetime of the survivor, two-thirds of the amount of the payment in effect while both were living. The Company does not guarantee a minimum number of annuity payments under this option.
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Annuity Payout Options. You may select an annuity payout by sending us a written request. Your request must be received by us at least 30 days before the annuity payout is scheduled to begin. If you have not selected a required minimum distribution payment method, we will provide an annuity payout option to you at age 85, unless you notify us otherwise in writing. The following options are available for annuity payouts:
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Annuity Payout Options. General Provisions Age M F U M F U Male Age 5 Yrs Less Same Age 5 Yrs Older Unisex Age 5 Yrs Less Same Age 5 Yrs Older Age M F U M F U Male Age 5 Yrs Less Same Age 5 Yrs Older Unisex Age 5 Yrs Less Same Age 5 Yrs Older
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Annuity Payout Options. Annuity Payout Option 1 - Payments for a specified period: ---------------------------------------------------------- Payments are made for the number of years specified by the Certificate Holder. The number of years must be at least five and not more than 30. Annuity Payout Option 2 - Life income based on the life of one -------------------------------------------------------------- Annuitant: ---------- When this option is elected, the Certificate Holder must choose one of the following: (a) Payments cease at the death of the Annuitant; (b) Payments are guaranteed for a specified period from five to 30 years; (c) Cash refund: when the Annuitant dies, the Beneficiary will receive a lump sum payment equal to the amount applied to the Annuity Payout Option (less any premium tax, if applicable) less the total amount of Annuity Payments made prior to such death. This cash refund feature is only available if the total amount applied to the Annuity Payout Option is allocated to a fixed Annuity Payment. Annuity Payout Option 3 - Life income based on the lives of ----------------------------------------------------------- two Annuitants: --------------- Payments are made for the lives of two Annuitants, one of whom is designated the primary Annuitant and the other the secondary Annuitant, and cease when both Annuitants have died. When this option is elected, the Certificate Holder must also choose one of the following: (a) 100% of the payment to continue after the first death;
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Annuity Payout Options. The amount of any variable annuity payments after the first will increase or decrease according to the value of the variable Annuity Units, which reflect the investment experience of the Variable Investment Option(s) elected. The amount of each variable annuity payment under a variable annuity payout option depends upon an assumed investment return (AIR) chosen by the owner. The effective annual AIR chosen can be: • 0%; or
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Annuity Payout Options. Annuity Payout Option 1 - Payments for a specified period: Payments are made for the number of years specified by the Certificate Holder. The number of years must be at least ten and not more than 30. Annuity Payout Option 2 - Life income based on the life of one Annuitant: When this option is elected, the Certificate Holder must choose one of the following: (a) Payments cease at the death of the Annuitant; (b) Payments are guaranteed for a specified period from five to 30 years;
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Annuity Payout Options. The Certificate Holder may choose to receive Annuity Payments under one of the following options:
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Related to Annuity Payout Options

  • ANNUITY PAYMENTS If the Proceeds are less than $2,000 on the Maturity Date as shown on the first page of this Contract, we will pay you or, subject to our consent in the event the payee is not a natural person, a payee designated by you, the Proceeds in one lump sum payment as directed by you and this Contract will have no further value. If the Proceeds are equal to or greater than $2,000 on the Maturity Date as shown on the first page of this Contract and an Annuitant is living on the Maturity Date, we will begin making Annuity Payments as described below. We will make Annuity Payments beginning on the Maturity Date, on a monthly basis unless you deliver Notice to Us directing us to pay at a different frequency. However, requests for periodic payments other than monthly, quarterly, semi-annually or annually require our consent. If the day an Annuity Payment is scheduled to be paid is not a Business Day, for instance, a weekend, or does not exist in any month in which an Annuity Payment is due, for instance, a month that does not contain twenty-nine, thirty, or thirty-one days, such Annuity Payment will be paid on the next Business Day. The amount applied to an Annuity Plan will be the Proceeds, less any applicable premium tax, which will determine the Annuity Payment under the Annuity Plan you have elected. Each Annuity Payment must equal at least $20. If Annuity Payments would be less than $20, we have the right to make such Annuity Payments less frequently as necessary to make the Annuity Payment equal to at least $20. We have the right to change the $2,000 and $20 minimums stated in this provision based upon increases reflected in the Consumer Price Index for All Urban Consumers (CPI-U) since January 1, 2005. You may elect any of the Annuity Plans described below. In addition, you may elect any other Annuity Plan we may be offering on the Maturity Date. You may change the Annuity Plan you have elected at any time before the Maturity Date upon thirty days prior Notice to Us. Upon request, we will send you the proper forms to elect or change an Annuity Plan. The elected Annuity Plan shall become effective when we receive satisfactorily completed forms indicating your election. If you do not elect an Annuity Plan by the Maturity Date, payments, calculated based on the oldest Annuitant's life, will be made to you or a payee designated by you automatically each month for a minimum of 120 months and as long thereafter as the oldest Annuitant lives unless otherwise limited by applicable law. IU-IA-3089 Your election of an Annuity Plan is subject to the following additional terms and conditions: (1) If you do not direct us otherwise, Annuity Payments will be paid to you.

  • ANNUITY OPTIONS The following Annuity Options are available under this Contract. Additional options may become available in the future:

  • Payment Options The exercise price shall be paid by one or any combination of the following forms of payment that are applicable to this option, as indicated on the cover page hereof: (i) by check payable to the order of the Company; or (ii) delivery of an irrevocable and unconditional undertaking, satisfactory in form and substance to the Company, by a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise price, or delivery by the Optionee to the Company of a copy of irrevocable and unconditional instructions, satisfactory in form and substance to the Company, to a creditworthy broker to deliver promptly to the Company cash or a check sufficient to pay the exercise price; or (iii) subject to Section 7(b) below, if the Common Stock is then traded on a national securities exchange or on the Nasdaq National Market (or successor trading system), by delivery of shares of Common Stock having a fair market value equal as of the date of exercise to the option price. In the case of (iii) above, fair market value as of the date of exercise shall be determined as of the last business day for which such prices or quotes are available prior to the date of exercise and shall mean (i) the last reported sale price (on that date) of the Common Stock on the principal national securities exchange on which the Common Stock is traded, if the Common Stock is then traded on a national securities exchange; or (ii) the last reported sale price (on that date) of the Common Stock on the Nasdaq National Market (or successor trading system), if the Common Stock is not then traded on a national securities exchange.

  • Annuity 24.1 If the policy schedule states that the insured amount is a surviving dependant's annuity within the meaning of Section 3.125(1)(b) of the Income Tax Act 2001, this article shall apply. a. The entitlement to an annuity payment cannot be surrendered, disposed of, divulged or used as security and, in general, no legal action can be taken with regard to this insurance that may lead the tax authorities to take back the premium deduction they received for this insurance in the past. b. The insurer shall be held liable by law for the payment of the wage and income tax and revision interest owed by the policyholder or the person entitled to an annuity as soon as a circumstance referred to under point a arises. c. The insurer will then be entitled to set off the amount of the maximum wage and income tax and revision interest due against the value of the insured annuity(s), irrespective of whether these are paid out or not.

  • Multiple Individual Retirement Accounts In the event the depositor maintains more than one Individual Retirement Account (as defined in Section 408(a)) and elects to satisfy his or her minimum distribution requirements described in Article IV above by making a distribution from another individual retirement account in accordance with Item 6 thereof, the depositor shall be deemed to have elected to calculate the amount of his or her minimum distribution under this custodial account in the same manner as under the Individual Retirement Account from which the distribution is made.

  • Benefit Options Employees must elect a plan administrator and primary care clinic. Those elections will determine the Benefit Level through Advantage. Enrolled dependents must elect a primary care clinic that is available through the plan administrator chosen by the employee.

  • Contribution Formula - Basic Life Coverage For employee basic life coverage and accidental death and dismemberment coverage, the Employer contributes one-hundred (100) percent of the cost.

  • Investment Options You may direct the investment of your funds within this IRA into any investment instrument offered by or through the Custodian. The Custodian will not exercise any investment discretion regarding your IRA, as this is solely your responsibility. There are certain fees and charges connected with your IRA investments. These fees and charges may include the following. • Sales Commissions • Set Up Fees • Investment Management Fees • Annual Maintenance Fees • Distribution Fees • Surrender or Termination Fees To find out what fees apply, refer to the investment prospectus or contract. There may be certain fees and charges connected with the IRA itself. (Select and complete as applicable.) Annual Custodial Service Fee* $ No Charge Overnight Distribution $ 16.50 Wire Fee $ 12.50 Transfer Out Fee $ The greater of $100.00 or $25.00 per position Other (Explain) We reserve the right to change any of the above fees after notice to you, as provided in your IRA agreement. *The annual custodial fee will be borne by your Investment Advisor.

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • Annual Equity Awards Following the first anniversary of the Effective Date, Executive will be granted annual equity awards in an amount determined by the Board. Such awards may be in the form of options, restricted stock units, performance shares, or any other form as approved by the Board.

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