Common use of Betterment of Rates Clause in Contracts

Betterment of Rates. If it would produce greater benefits for Fixed Annuities, the amount of the Annuitant's monthly payment will be the monthly payment produced by a then currently issued immediate annuity. The immediate annuity shall be of the same form. It shall have a single stipulated payment equal to the Accumulation Value being applied under this Contract. Any commuted values allowed under the settlement provisions will be determined on the basis of the interest rate used to determine the net single premium for such annuities.

Betterment of Rates. If it would produce greater benefits would result for a Fixed AnnuitiesAnnuity, the amount of the Annuitant's monthly payment will be the monthly payment produced by the then current settlement option rates, which will not be less than the rates used for a then currently issued immediate annuity. The immediate annuity shall be of the same form. It shall have a single stipulated payment equal to the Accumulation Value of the Participant Account being applied under this Contractto effect the annuity. Any commuted values allowed under the settlement provisions will be determined based on the basis of option elected and the interest rate Assumed Investment Rate used to determine the net single premium purchase rate for such annuities.

Betterment of Rates. If it would produce greater benefits would result for a Fixed AnnuitiesAnnuity, the amount of the Annuitant's monthly payment will be the monthly payment produced by the then current settlement option rates, which will not be less than the rates used for a then currently issued immediate annuity. The immediate annuity shall be of the same form. It shall have a single stipulated payment equal to the Accumulation Value of the Contract being applied under this Contractto effect the annuity. Any commuted values allowed under the settlement provisions will be determined based on the basis of Option elected and the interest rate Assumed Investment Rate used to determine the net single premium purchase rate for such annuities.

Betterment of Rates. If it would produce greater benefits would result for a Fixed AnnuitiesAnnuity, the amount of the Annuitant's monthly payment will be the monthly payment produced by the then current settlement option rates, which will not be less than the rates used for a then currently issued immediate annuity. The immediate annuity shall be of the same form. It shall have a single stipulated payment equal to the Accumulation Value of the Participant Account being applied under this Contractto effect the annuity. Any commuted values allowed under the settlement provisions will be determined based on the basis of Option elected and the interest rate Assumed Investment Rate used to determine the net single premium purchase rate for such annuities.