Common use of Annuity Purchases Clause in Contracts

Annuity Purchases. Prior to notification of contract termination (but not thereafter), the Contractholder may withdraw all or a portion of a your Account Value to provide an annuity reflecting Plan benefits. Such a withdrawal is not subject to a Withdrawal Charge or Market Value Adjustment. [On the date we receive an annuity purchase request, we transfer your entire Participant Account to the FIA if it is an available Investment Option, otherwise to the AUL Money Market Investment Account. Such amounts remain in the FIA or the AUL Money Market Investment Account until the full Account Value (reflecting gains and losses) is applied to purchase the annuity on the last day of the month preceding the Annuity Commencement Date. As of that annuity purchase date, your Participant Account funds are no longer maintained in the contract.] The Contractholder's annuity purchase request must specify the purpose for the annuity, the election of an annuity option, Annuity Commencement Date, any contingent annuitant or beneficiary, and any additional information we require. If you or any contingent annuitant dies before the Annuity Commencement Date, the annuity election is cancelled. The minimum amount that the Contractholder may apply to purchase an annuity is [$10,000].

Appears in 1 contract

Samples: Guaranteed Benefit Employer Sponsored Tda and Qualified Plan (Aul American Unit Trust)

AutoNDA by SimpleDocs

Annuity Purchases. Prior to notification of contract termination (but not thereafter), the Contractholder you may withdraw all or a portion of a your Participant's Account Value to provide an annuity reflecting Plan benefits. Such a withdrawal is not subject to a Withdrawal Charge or Market Value AdjustmentCharge. [On the date we receive an annuity purchase request, we transfer your the entire Participant Account to the FIA if it is an available Investment Option, otherwise to the AUL Money Market Investment Account. Such amounts remain in the FIA or the AUL Money Market Investment Account until the full Account Value (reflecting gains and losses) is applied to purchase the annuity on the last day of the month preceding the Annuity Commencement Date. As of that annuity purchase date, your such Participant Account funds are no longer maintained in the this contract.] The Contractholder's Your annuity purchase request must specify the purpose for the annuity, the election of an annuity option, Annuity Commencement Date, any contingent annuitant or beneficiary, and any additional information we require. If you the Participant or any contingent annuitant dies before the Annuity Commencement Date, the annuity election is cancelled. The minimum amount that the Contractholder which you may apply to purchase an annuity is [$10,000].

Appears in 1 contract

Samples: Guaranteed Benefit Employer Sponsored Tda Contract (Aul American Unit Trust)

Annuity Purchases. Prior to notification of contract termination (but not thereafter), the Contractholder you may withdraw all or a portion of a your Participant's Account Value to provide an annuity reflecting Plan benefits. Such a withdrawal is not subject to a Withdrawal Charge or Market Value Adjustment. [On the date we receive an annuity purchase request, we transfer your the entire Participant Account to the FIA if it is an available Investment Option, otherwise to the AUL Money Market Investment Account. Such amounts remain in the FIA or the AUL Money Market Investment Account until the full Account Value (reflecting gains and losses) is applied to purchase the annuity on the last day of the month preceding the Annuity Commencement Date. As of that annuity purchase date, your such Participant Account funds are no longer maintained in the this contract.] The Contractholder's Your annuity purchase request must specify the purpose for the annuity, the election of an annuity option, Annuity Commencement Date, any contingent annuitant or beneficiary, and any additional information we require. If you the Participant or any contingent annuitant dies before the Annuity Commencement Date, the annuity election is cancelled. The minimum amount that the Contractholder which you may apply to purchase an annuity is [$10,000].

Appears in 1 contract

Samples: Guaranteed Benefit Employer Sponsored Tda and Qualified Plan (Aul American Unit Trust)

Annuity Purchases. Prior to notification of contract termination (but not thereafter)termination, the Contractholder you may withdraw all or a portion of a your Participant’s Account Value to provide an annuity reflecting Plan benefits. Such a withdrawal is not subject to a Withdrawal Charge or Market Value Adjustment. [On the date we receive an annuity purchase request, we transfer your the entire Participant Account to the FIA if it is an available Investment Option, otherwise to the AUL OneAmerica® Money Market Investment Account. Such amounts remain in the FIA or the AUL OneAmerica® Money Market Investment Account until the full Account Value (reflecting gains and losses) is applied to purchase the annuity on the last day of the month preceding the Annuity Commencement Date. As of that annuity purchase date, your such Participant Account funds are no longer maintained in the this contract.] The Contractholder's . Your annuity purchase request must specify the purpose for the annuity, the election of an annuity option, Annuity Commencement Date, any contingent annuitant or beneficiary, and any additional information we require. If you the Participant or any contingent annuitant dies before the Annuity Commencement Date, the annuity election is cancelled. The minimum amount that the Contractholder amount, which you may apply to purchase an annuity annuity, is [$10,000].

Appears in 1 contract

Samples: Insurance Contract

AutoNDA by SimpleDocs

Annuity Purchases. Prior to notification of contract termination (but not thereafter), [the Contractholder Plan Sponsor] may withdraw all or a portion of a your the Account Value of a Participant in its Plan to provide an annuity reflecting Plan benefits. Such a withdrawal is not subject to a Withdrawal Charge or Market Value AdjustmentCharge. [On the date we receive an annuity purchase request, we transfer your the entire Participant Account to the FIA if it is an available Investment Option, otherwise to the AUL Money Market Investment Account. Such amounts remain in the FIA or the AUL Money Market Investment Account until the full Account Value (reflecting gains and losses) is applied to purchase the annuity on the last day of the month preceding the Annuity Commencement Date. As of that annuity purchase date, your such Participant Account funds are no longer maintained in the this contract.] The Contractholder's annuity purchase request must specify the purpose for the annuity, the election of an annuity option, Annuity Commencement Date, any contingent annuitant or beneficiary, and any additional information we require. If you the Participant or any contingent annuitant dies before the Annuity Commencement Date, the annuity election is cancelled. The minimum amount that the Contractholder which may apply be applied to purchase an annuity is [$10,000].

Appears in 1 contract

Samples: Tda Contract (Aul American Unit Trust)

Annuity Purchases. Prior to notification of contract termination (but not thereafter), the Contractholder may withdraw all or a portion of a your Account Value to provide an annuity reflecting Plan benefits. Such a withdrawal is not subject to a Withdrawal Charge or Market Value AdjustmentCharge. [On the date we receive an annuity purchase request, we transfer your entire Participant Account to the FIA if it is an available Investment Option, otherwise to the AUL Money Market Investment Account. Such amounts remain in the FIA or the AUL Money Market Investment Account until the your full Account Value (reflecting gains and losses) is applied to purchase the annuity on the last day of the month preceding the Annuity Commencement Date. As of that annuity purchase date, your Participant Account funds are no longer maintained in the contractContract.] The Contractholder's annuity purchase request must specify the purpose for the annuity, the election of an annuity option, Annuity Commencement Date, any the contingent annuitant or beneficiary, and any additional information we require. If you the annuitant or any the contingent annuitant dies before the Annuity Commencement Date, the annuity election is cancelled. The minimum amount that which the Contractholder may apply to purchase an annuity is [$10,000].

Appears in 1 contract

Samples: Guaranteed Benefit Employer Sponsored Tda Contract (Aul American Unit Trust)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!