Common use of Choices to be Made Clause in Contracts

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 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.