Common use of Benefit Payments Clause in Contracts

Benefit Payments. Subject to the other provisions of this Contract, upon Written Communications from the Contract Owner, Nationwide shall purchase Annuities or make Cash Payments in such manner and amounts specified by the Contract Owner on behalf of the Participant. The Contract Owner may request any one of the following Annuity forms on behalf of a Participant: (a) Straight Life Form - This form of Annuity provides payments during the lifetime of the Annuitant. Payments will end with the last payment made on or preceding the Annuitant's date of death. (b) Joint and Survivor Form - This form of Annuity provides periodic payments during the joint lifetime of the Annuitant and the survivor Annuitant. Periodic payments to the Annuitant will end with the last periodic payment made preceding the Annuitant's death. Upon the Annuitant's death, periodic payments in the amount of 50%, 66 2/3%, 75%, or 100% (as elected by the Annuitant) of the periodic payments payable to the Annuitant, will be continued to the survivor Annuitant, if living. Periodic payments will terminate with the last periodic payment made preceding the later of the date of death of the Annuitant and the survivor Annuitant. SAMPLE (c) Life With Period Certain Form - This form of Annuity provides payments during the lifetime of the Annuitant. If the death of the Annuitant occurs before the Annuitant has received the specified number of payments (as elected by the Annuitant), the payments remaining will be paid to a Beneficiary designated by the Annuitant. If no Beneficiary has been designated or if the death of the designated Beneficiary occurs before the Annuitant and Beneficiary have received the total number of payments due, the commuted value of the payments remaining will be paid in a lump sum. Such payment will be paid to the estate of the last survivor of the Annuitant and the designated Beneficiary. Annuity purchases and Cash Payments may be made on any form mutually agreeable between Nationwide and the Contract Owner, in accordance with the provisions of the Plan and the Contract. Nationwide will purchase the Annuity or provide the Cash Payment. Nationwide will purchase an Annuity by withdrawing the amount to be applied to purchase the Annuity from the Guaranteed Fund. The amount of the Annuity will be determined by dividing the amount withdrawn, less the amount of tax, if any, by the appropriate purchase rate as determined by the procedures of Nationwide for all contracts of this class. If the withdrawal requested plus any applicable expense charges and taxes exceed the amount of the Guaranteed Fund, the amount of the Annuity will be limited to that which can be purchased by the amount of the Guaranteed Fund remaining after withdrawal of any tax or charges.

Benefit Payments. Subject to the other provisions of this Contract, upon Written Communications from the Contract Owner, Nationwide shall purchase Annuities or make Cash Payments in such manner and amounts specified by the Contract Owner on behalf of the Participant. The Contract Owner may request any one of the following Annuity forms on behalf of a Participant: (a) Straight Life Form - This form of Annuity provides payments during the lifetime of the Annuitant. Payments will end with the last payment made on or preceding the Annuitant's date of death. (b) Joint and Survivor Form - This form of Annuity provides periodic payments during the joint lifetime of the Annuitant and the survivor Annuitant. Periodic payments to the Annuitant will end with the last periodic payment made preceding the Annuitant's death. Upon the Annuitant's death, periodic payments in the amount of 50%, 66 2/3%, 75%, or 100% (as elected by the Annuitant) of the periodic payments payable to the Annuitant, will be continued to the survivor Annuitant, if living. Periodic payments will terminate with the last periodic payment made preceding the later of the date of death of the Annuitant and the survivor Annuitant. SAMPLE (c) Life With Period Certain Form - This form of Annuity provides payments during the lifetime of the Annuitant. If the death of the Annuitant occurs before the Annuitant has received the specified number of payments (as elected by the Annuitant), the payments remaining will be paid to a Beneficiary designated by the Annuitant. If no Beneficiary has been designated or if the death of the designated Beneficiary occurs before the Annuitant and Beneficiary have received the total number of payments due, the commuted value of the payments remaining will be paid in a lump sum. Such payment will be paid to the estate of the last survivor of the Annuitant and the designated Beneficiary. Annuity purchases and Cash Payments may be made on any form mutually agreeable between Nationwide and the Contract Owner, in accordance with the provisions of the Plan and the Contract. Nationwide will purchase the Annuity or provide the Cash Payment. Nationwide will purchase an Annuity by withdrawing the amount to be applied to purchase the Annuity from the Guaranteed Fund. The amount of the Annuity will be determined by dividing the amount withdrawn, less the amount of tax, if any, by the appropriate purchase rate as determined by the procedures of Nationwide for all contracts of this class. If the withdrawal requested plus any applicable expense charges and taxes exceed the amount of the Guaranteed Fund, the amount of the Annuity will be limited to that which can be purchased by the amount of the Guaranteed Fund remaining after withdrawal of any tax or charges.

Benefit Payments. Subject to the other provisions of this Contract, upon Written Communications from the Contract Owner, Nationwide shall purchase Annuities or make Cash Payments in such manner and amounts specified by the Contract Owner on behalf of the Participant. The Contract Owner may request any one of the following Annuity forms on behalf of a Participant: (a) Straight Life Form - This form of Annuity provides payments during the lifetime of the Annuitant. Payments will end with the last payment made on or preceding the Annuitant's date of death. (b) Joint and Survivor Form - This form of Annuity provides periodic payments during the joint lifetime of the Annuitant and the survivor Annuitant. Periodic payments to the Annuitant will end with the last periodic payment made preceding the Annuitant's death. Upon the Annuitant's death, periodic payments in the amount of 50%, 66 2/3%, 75%, or 100% (as elected by the Annuitant) of the periodic payments payable to the Annuitant, will be continued to the survivor Annuitant, if living. Periodic payments will terminate with the last periodic payment made preceding the later of the date of death of the Annuitant and the survivor Annuitant. SAMPLE (c) Life With Period Certain Form - This form of Annuity provides payments during the lifetime of the Annuitant. If the death of the Annuitant occurs before the Annuitant has received the specified number of payments (as elected by the Annuitant), the payments remaining will be paid to a Beneficiary designated by the Annuitant. If no Beneficiary has been designated or if the death of the designated Beneficiary occurs before the Annuitant and Beneficiary have received the total number of payments due, the commuted value of the payments remaining will be paid in a lump sum. Such payment will be paid to the estate of the last survivor of the Annuitant and the designated Beneficiary. Annuity purchases and Cash Payments may be made on any form mutually agreeable between Nationwide and the Contract Owner, in accordance with the provisions of the Plan and the Contract. Nationwide will purchase the Annuity or provide the Cash Payment. Nationwide will purchase an Annuity by withdrawing the amount to be applied to purchase the Annuity from the Guaranteed Fund. The amount of the Annuity will be determined by dividing the amount withdrawn, less the amount of tax, if any, by the appropriate purchase rate as determined by the procedures of Nationwide for all contracts of this class. If the withdrawal requested plus any applicable expense charges and taxes exceed the amount of the Guaranteed Fund, the amount of the Annuity will be limited to that which can be purchased by the amount of the Guaranteed Fund remaining after withdrawal of any tax or charges.

Benefit Payments. Subject to the other provisions of this Contract, upon Written Communications written notice from the Contract OwnerContractholder, Nationwide the Company shall purchase Annuities or make Cash Payments in such manner and amounts specified by the Contract Owner on behalf of the ParticipantContractholder. The Contract Owner Contractholder may request any one of the following Annuity forms on behalf of a Participant: (a) Straight Life Form - This form of Annuity provides payments during the lifetime of the Annuitant. Payments will end with the last payment made on or preceding the Annuitant's date of death.] (b) Joint and Survivor Form - This form of Annuity provides periodic payments during the joint lifetime of the Annuitant and the survivor Annuitant. Periodic payments to the Annuitant will end with the last periodic payment made preceding the Annuitant's death. Upon the Annuitant's death, periodic payments in the amount of 50%[50]%, 66 2/3%[66_]%, 75[751%, or 100% [100]% (as elected by the Annuitant) of the periodic payments payable to the Annuitant, will be continued to the survivor Annuitant, if living. Periodic payments will terminate with the last periodic payment made preceding the later of the date of death of the Annuitant and the survivor Annuitant. SAMPLE.] (c) Life With Period Certain Form - This form of Annuity provides payments during the lifetime of the Annuitant. If the death of the Annuitant occurs before the Annuitant has received the specified number of payments (as elected by the Annuitant), the payments remaining will be paid to a Beneficiary designated by the Annuitant. If no Beneficiary has been designated or if the death of the designated Beneficiary occurs before the Annuitant and Beneficiary have received the total number of payments due, the commuted value of the payments remaining will be paid in a lump single sum. Such payment will be paid to the estate of the last survivor to die of the Annuitant and the designated Beneficiary. Annuity purchases and Cash Payments may be made on any form mutually agreeable between Nationwide and the Contract Owner, in accordance with the provisions of the Plan and the Contract. Nationwide will purchase the Annuity or provide the Cash Payment. Nationwide will purchase an Annuity by withdrawing the amount to be applied to purchase the Annuity from the Guaranteed Fund. The amount of the Annuity will be determined by dividing the amount withdrawn, less the amount of tax, if any, by the appropriate purchase rate as determined by the procedures of Nationwide for all contracts of this class. If the withdrawal requested plus any applicable expense charges and taxes exceed the amount of the Guaranteed Fund, the amount of the Annuity will be limited to that which can be purchased by the amount of the Guaranteed Fund remaining after withdrawal of any tax or charges.]