CHOICE OF ANNUITY PAYMENT OPTION. An election to receive payments under an Annuity Payment Option must be made by the Maturity Date. However, the Owner may elect to receive payments under an Annuity Payment Option any time after the 12 month anniversary of the Contract Date but prior to the Maturity Date upon written request. The Maturity Date is set forth on the Contract Specifications. If an Annuity Payment Option is not chosen prior to the Maturity Date, payments will commence to the Owner on the Maturity Date under the Annuity Payment Option providing a Life Annuity with annuity payments guaranteed for 10 years. Upon written request by the Owner and any Beneficiary who cannot be changed, the Maturity Date may be deferred. By Owner Prior to the Annuity Commencement Date, the Owner may choose or change any Annuity Payment Option. In addition, the Owner may select an Annuity Payment Option that meets the requirements of Code Section 72(s) or 401(a)(9) as set forth in Section 7.01, Payment of Amounts, for payment of the Death Benefit to a Beneficiary. A Notice of such selection of a distribution method must be made and approved by LNY. Upon Notice, the Owner may change or revoke, in writing to the LNY Servicing Office, any such selection, unless such selection was made irrevocable. By Beneficiary
CHOICE OF ANNUITY PAYMENT OPTION. By Owner Prior to the Annuity Commencement Date, the Owner may choose or change any Annuity Payment Option. In addition, the Owner may select an Annuity Payment Option as the distribution method for payment of the Death Benefit to a Beneficiary. Such selection of a distribution method must be made in writing to the Home Office and approved by LNL. The Owner may change or revoke, in writing to the Home Office, any such selection, unless such selection was made irrevocable. By Beneficiary If an Annuity Payment Option has not been previously selected by the Owner as the distribution option for payment of the Death Benefit to a Beneficiary, then at the time proceeds are payable to a Beneficiary, a Beneficiary may choose any Annuity Payment Option that meets the requirements of Code Section 72(s) or 401(a)(9). The Beneficiary then becomes the Annuitant. A choice or change of an Annuity Payment Option must be made in writing to LNL. After the Annuity Commencement Date, the Annuity Payment Option may not be changed.
CHOICE OF ANNUITY PAYMENT OPTION. An election to receive payments under an Annuity Payment Option must be made by the Maturity Date. The Maturity Date is set forth on the Contract Specifications. Upon written request by the Owner and any Beneficiary who cannot be changed, the Maturity Date may be deferred. If the Maturity Date is extended, LNL reserves the right to restrict the availability of certain Annuity Payment Options. By Owner Prior to the Annuity Commencement Date, the Owner may choose or change any Annuity Payment Option. In addition, the Owner may select an Annuity Payment Option that meets the requirements of Code Section 72(s) or 401(a)(9) as set forth in Section 6.01, Payment of Amounts, for payment of the Death Benefit to a Beneficiary. A Notice of such selection of a distribution method must be made and approved by LNL. Upon Notice, the Owner may change or revoke, in writing to the Home Office, any such selection, unless such selection was made irrevocable. By Beneficiary
CHOICE OF ANNUITY PAYMENT OPTION. BY OWNER While the Annuitant is alive, the Owner may choose any Annuity Payment Option or change any choice, if that right has been reserved, but only before the Maturity Date. The election must be made not later than thirty days prior to the Maturity Date.
CHOICE OF ANNUITY PAYMENT OPTION. By Owner Prior to the Annuity Commencement Date, the Owner may choose or change any Annuity Payment Option. For a 100% fixed annuity payment, the Annuity Commencement Date must be at least thirty days prior to the time annuity payments are to begin.
CHOICE OF ANNUITY PAYMENT OPTION. By Owner -- Before the Income Date, the Owner may choose or change any Annuity Payment Option. By Beneficiary -- At the time proceeds are payable to a Beneficiary, the Beneficiary may choose or change the selected Annuity Payment Option if the change meets the requirements of Code section 72(s) or 401(a)(9) if proceeds are available to the Beneficiary in a lump sum. The Beneficiary then becomes the Annuitant. A choice or change in the Annuity Payment Option must be made by Written Request to Keyport at Our Servicing Office. After the Income Date, the Annuity Payment Option may not be changed.
CHOICE OF ANNUITY PAYMENT OPTION. The choice of any Annuity Payment Option or the change of any previously elected Annuity Payment Option shall be made at the time or times and in the manner specified in the Plan, and shall in all other respects be in accord with the terms of the Plan.
