COMMUTATION OF PAYMENTS. If any periodic payments are to be commuted, the commuted value of the payments will be determined by us, using the interest rate which was used as a basis for calculating the amount of the payment at the time the annuity was provided. Neither the Owner of Benefits, the Plan Participant, the contingent annuitant nor any beneficiary who is a natural person taking in his own right has the right to commute any annuity payments under this contract which are based upon life contingencies.
Appears in 4 contracts
Samples: Principal Mutual Life Insurance Company Separate Account B, Principal Mutual Life Insurance Company Separate Account B, Principal Mutual Life Insurance Company Separate Account B
