Deferred Fixed Annuity Contract Clause Samples

Deferred Fixed Annuity Contract. This contract guarantees payment of the Monthly Benefit to you over the life of the Covered Person in the event the Designated Account value falls below the Required Minimum before the Maturity Date and while this contract is still in force. In order to receive the full benefit of this contract, you must comply with all terms as described in this contract. There is no cash surrender value or death benefit under this contract, unless amended by any applicable rider. Your Designated Account is not an account of the Company, and the investments of your Designated Account are not assets of the Company. Your Designated Account is subject to your agreement with the Selling Firm. This contract is nonparticipating. In consideration of your application and the payment of Total Contract Charges, we agree to pay to you the Monthly Benefit according to the terms of this contract. Alternatively, we agree to make annuity payments to you if you elect to apply all of your Designated Account value to the Optional Fixed Annuity. Signed for the Company at its home office on the Contract Date. [ ]