Common use of Annuity Purchases Clause in Contracts

Annuity Purchases. Prior to notification of contract termination, you may withdraw all or a portion of a Participant's Account Value (subject to Section 7.5) to provide an annuity, reflecting Plan benefits. Such a withdrawal is not subject to a Withdrawal Charge. On receipt of an annuity purchase request, we transfer the entire Participant Account to a suspense account. Such amounts remain in the suspense account until the Annuity Commencement Date, when the full balance (including interest) is applied to purchase the annuity. 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 the Participant or any contingent annuitant dies before the Annuity Commencement Date, the annuity election is cancelled. The minimum amount which you may apply to purchase an annuity is $5,000.

Annuity Purchases. Prior to notification of contract Contract termination, you the Contractholder may withdraw all or a portion of a Participant's your Account Value (subject to Section 7.5) to provide an annuity, reflecting Plan benefits. Such a withdrawal is not subject to a Withdrawal Charge. On receipt of an annuity purchase request, we transfer the your entire Participant Account to a suspense account. Such These amounts remain in the suspense account until the your Annuity Commencement Date, when the full balance (including interest) is applied to purchase the annuity. Your 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 the Participant you or any contingent annuitant dies before the Annuity Commencement Date, the annuity election is cancelled. The minimum amount which you the Contractholder may apply to purchase an annuity is $5,000.

Annuity Purchases. Prior to notification of contract termination, you The Participant may withdraw all or a portion of a Participant's his Account Value (subject to Section 7.57.4) to provide an annuity, reflecting Plan benefits. Such a withdrawal is not subject to a Withdrawal Charge. On receipt of an annuity purchase request, we transfer the entire Participant Account to a suspense account. Such amounts remain in the suspense account until the Annuity Commencement Date, when the full balance (including interest) is applied to purchase the annuity. Your The Participant'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 the Participant or any contingent annuitant dies before the Annuity Commencement Date, the annuity election is cancelled. The minimum amount which you the Participant may apply to purchase an annuity is $5,000.