Choices to be Made. The Owner may tell Aetna to pay the Individual Account Reserve (minus any charges for premium taxes) as a premium for an Annuity under Options 2, 3, 4, and 5 (see below). The first Annuity payment must generally be made no later than the first day of the month following the Annuitant's 75th birthday. The Owner may tell Aetna to make the first Annuity payment on the first day of any prior month. When any option is chosen, the Owner or beneficiary choosing the option must tell Aetna if payments are to be made other than monthly. They must also tell Aetna to pay:
(a) a Fixed Annuity;
(b) a Variable Annuity using Variable Fund;
(c) a Variable Annuity using Income Fund; or
(d) any mix of these. When choosing a Variable Annuity, an assumed net return rate of 5% per year may be chosen. If not chosen, Aetna will use an assumed net return rate of 3.5% per year.
Choices to be Made. The Certificate Holder may tell Aetna to apply any portion of the Adjusted Current Value (minus any premium tax) for an Annuity under option 1, 2, or 3 (see 4.04). The first Annuity payment may not be earlier than twelve months after the Purchase Payment. At least 30 days prior to the Annuity Date, the Certificate Holder must tell Aetna which Annuity option is elected. Annuity payments will be made monthly, unless the Certificate Holder elects otherwise in writing. In lieu of the election of an Annuity, the Certificate Holder may elect a lump sum payment. The Annuity purchase rate for the option chosen reflects the Minimum Guaranteed Interest Rate (see Contract Schedule II), but may reflect a higher interest rate.
Choices to be Made. The Contract Holder may tell Aetna to apply any portion of the Adjusted Current Value (minus any premium tax) for an Annuity under option 1, 2 or 3 (see 4.04). The first Annuity payment may not be earlier than twelve months after the Purchase Payment At least 30 days prior to the Annuity Date, the Contract Holder must tell Aetna which Annuity option is elected. Annuity payments will be made monthly, unless the Contract Holder elects otherwise in writing. In lieu of the election of an Annuity, the Contract Holder may elect a lump sum payment. The Annuity purchase rate for the option chosen reflects the Minimum Guaranteed Interest Rate (see Contract Schedule II), but may reflect a higher interest rate.
Choices to be Made. The Certificate Holder may tell Aetna to apply any portion of the Adjusted Current Value (minus any premium tax) for an Annuity under option 2, 3, or 4 (see 4.07). The first Annuity payment may not be earlier than one calendar year after the Purchase Payment nor later than the first day of the month following the Annuitant's 85th birthday. When an Annuity Option is chosen, Aetna must also be told if payments are to be made other than monthly and whether to pay:
Choices to be Made. The Owner may tell Aetna to pay over any portion of the Contract Reserve (minus any charges for premium taxes) as a premium for an Annuity under Options 2, 3, 4, and 5 (see 4.07). The first Annuity payment must generally be made no later than the first day of the month following the Annuitant's 75th birthday. The Owner may tell Aetna to make the first Annuity payment on the first day of any prior month. When any option is chosen, the Owner or beneficiary choosing the option must tell Aetna if payments are to be made other than monthly. They must also tell Aetna to pay:
(a) a Fixed Annuity;
(b) a Variable Annuity using any of the Fund(s) made available by Aetna; or
(c) any mix of these. When choosing a Fixed Annuity, Aetna will add interest daily at an annual rate no less than 3.5%. Aetna may add interest daily at any higher rate. When choosing a Variable Annuity, an assumed net return rate of 5% per year may be chosen. If not chosen, Aetna will use an assumed net return rate of 3.5% per year.
Choices to be Made. The Certificate Holder may tell Aetna to apply any portion of the Adjusted Current Value (minus any premium tax) for an Annuity option (see 4.07). The first Annuity payment may not be earlier than one calendar year after the initial Purchase Payment nor later than the first day of the month following the Annuitant's 90th birthday. When an Annuity option is chosen, Aetna must also be told if payments are to be made other than monthly and whether to pay:
4.01 Choices to be Made (a) A Fixed Annuity using the General Account; (Cont'd): (b) A Variable Annuity using any of the Fund(s) available under this Contract for Annuity purposes; or
Choices to be Made. The Certificate Holder may tell Aetna to apply any portion of the Adjusted Current Value (minus any premium tax) for an Annuity under option 2, 3, or 4 (see 4.07). The first Annuity payment may not be earlier than one calendar year after the initial Purchase Payment nor later than the later of:
(a) the first day of the month following the Annuitant's 85th birthday or
(b) the tenth anniversary of the last Purchase Payment. In lieu of the election of an Annuity, the Certificate Holder may tell Aetna to make a lump sum payment. When an Annuity Option is chosen, Aetna must also be told if payments are to be made other than monthly and whether to pay:
4.01 Choices to be Made (Cont'd):
(a) A Fixed Annuity using the General Account; (b) A Variable Annuity using any of the Fund(s) available under this Contract for Annuity purposes; or (c) A combination of (a) and (b). If a Fixed Annuity is chosen, the Annuity purchase rate for the option chosen reflects the Minimum Guaranteed Interest Rate (see Contract Schedule II), but may reflect higher interest rates. If a Variable Annuity is chosen, the initial Annuity payment for the option chosen reflects the assumed annual return rate elected. (see Contract Schedule II).
Choices to be Made. The Contract Holder may tell the Company to apply any portion of the Current Value (minus any premium tax) for an Annuity under Option 2, 3, or 4 (see 4.08). This election must be made in a form acceptable to us within the 90 day period ending on the date payments are to begin. A Contract Holder may revoke an election at any time prior to the date the payments start. In lieu of the election of an Annuity, the Contract Holder may tell us to make a lump sum payment. When an Annuity Option is chosen, we must also be told if payments are to be made other than monthly and whether to pay:
(a) A Fixed Annuity using the General Account;
(b) A Variable Annuity using any of the Fund(s) made available by us for Annuity purposes; or
(c) A combination of (a) and (b). If a Fixed Annuity is chosen, we will add interest daily at an annual rate no less than 3%. We may add interest daily at any higher rate. If a Variable Annuity is chosen, an Assumed Annual Net Return Rate of 5% may be elected. If not elected, we will use an Assumed Annual Net Return Rate of 3.5%.
Choices to be Made. An Annuity Option may be elected by telling Aetna to pay all or any portion of the Current Value (minus any premium tax) as a premium for an Annuity under Option 2, 3, or 4 (see 4.06). The first Annuity payment must generally be made no later than the first day of the month following the Annuitant's 75th birthday. Aetna may be told to make the first Annuity payment during any prior month. When an Option is chosen, Aetna must also be told if payments are to be made other than monthly and to pay:
(a) A Fixed Annuity using the General Account;
(b) A Variable Annuity using any of the Fund(s) made available by Aetna for Annuity purposes; or
(c) A combination of (a) and (b). If a Fixed Annuity is chosen, Aetna will add interest daily at an annual rate no less than 3.5%. Aetna may add interest daily at any higher rate. If a Variable Annuity is chosen, an Assumed Annual Net Return Rate of 5% may be chosen. If not chosen, Aetna will use an Assumed Annual Net Return Rate of 3.5%.
Choices to be Made. The Contract Holder may tell the Company to apply any portion of the Current Value (minus any premium tax) for an Annuity under Option 2, 3, or 4 (see 4.08). This election must be made in a form acceptable to us within the 90 day period ending on the date payments are to begin. A Contract Holder may revoke an election at any time prior to the date the payments start. In lieu of the election of an Annuity, the Contract Holder may tell us to make a lump sum payment. When an Annuity Option is chosen, we must also be told if payments are to be made other than monthly and whether to pay:
(a) A Fixed Annuity using the General Account;
(b) A Variable Annuity using any of the Fund(s) made available by us for Annuity purposes; or
(c) A combination of (a) and (b). If a Fixed Annuity is chosen, the Company guarantees that interest will be credited at an annual equivalent yield that is at least equal to the annual rate percentage shown on the Contract Schedule. We may add interest daily at any higher rate. If a Variable Annuity is chosen, an Assumed Annual Net Return Rate of 5% may be elected. If not elected, we will use an Assumed Annual Net Return Rate of 3.5%.
