Election of Annuity Options. At the written request of the Participant, AUL shall apply all or a portion of the Account Value (subject to Section 6.5) of the Participant Account for the purpose of providing a fixed payment annuity. Upon receipt of such request, AUL is hereby authorized by such Participant to value and transfer the Participant Account's share of the Variable Account to the Fixed Interest Account as of the date that AUL receives such written request at its Home Office. Such transferred amounts shall be held in the Fixed Interest Account until the Participant's Annuity Commencement Date. The Participant request shall include certification as to the purpose for the annuity and the election of one of the following annuity options. The amount of the annuity shall be computed from the Table of Immediate Annuities then included in this contract, except as provided under Section 4.4.
Election of Annuity Options. At the written request of the Participant, AUL shall apply all or a portion of the Account Value (subject to Section 6.5, and minus any outstanding loan balance of the Participant and any unpaid expense charges on such loans) of the Participant Account for the purpose of providing a fixed payment annuity. Upon receipt of such request, AUL is hereby authorized by such Participant to value and transfer the Participant Account's share of the Variable Account to the Fixed Interest Account as of the date that AUL receives such written request at its Home Office. Such transferred amounts shall be held in the Fixed Interest Account until the Participant's Annuity Commencement Date. The Participant request shall include certification as to the purpose for the annuity and the election of one of the following annuity options. The amount of the annuity shall be computed from the Table of Immediate Annuities then included in this contract, except as provided under Section 4.4.
Election of Annuity Options. The owner may elect to have annuity payments made under any one of the Annuity Options described below or in any other manner agreeable to the Company. Any such election shall be made in writing to the Company at its Home Office at least 30 days before the Maturity Date. The election may be changed in the same manner at any time prior to the surrender of this Contract. If the amount of payments for different guaranteed periods are the same at any given age, the Company will deem the longer period certain to have been chosen. OPTION 1 - LIFE ANNUITY - An annuity payable monthly during the lifetime of the Annuitant, ceasing with the last payment due prior to his or her death. OPTION 2a - JOINT AND SURVIVOR LIFE ANNUITY - an annuity payable monthly during the joint lifetime of the Xxxxxxxxx and the Joint Annuitant and continuing, after the death of either, during the lifetime of the survivor, ceasing with the last payment due prior to the death of the survivor. OPTION 2b - JOINT AND TWO-THIRDS TO SURVIVOR LIFE ANNUITY - An annuity payable monthly during the joint lifetime of the Annuitant and the Joint Annuitant and continuing, after the death of either, during the lifetime of the survivor with two-thirds payments, ceasing with the last payment due prior to the death of the survivor. OPTION 2c - JOINT AND ONE-HALF TO SURVIVOR LIFE ANNUITY - An annuity payable monthly during the joint lifetime of the Annuitant and the Joint Annuitant and continuing, after the death of either, during the lifetime of the survivor with one-half payments, ceasing with the last payment due prior to the death of the survivor. OPTION 3 - LIFE ANNUITY WITH 60, 120 OR 240 MONTHLY PAYMENTS GUARANTEED - An annuity payable monthly during the lifetime of the Annuitant, with the guarantee that if, at his or her death, payments have been made for less than 60, 120 or 240 monthly period, as elected, any guaranteed annuity payments will be continued during the remainder of the selected period to the Beneficiary.
Election of Annuity Options. At the written request of the Contractholder pursuant to Section 4.2, AUL shall apply all or a portion of the Account Value (subject to Section 6.4) of a Participant Account for the purpose of providing a fixed payment annuity under the Plan. Upon receipt of a request for an annuity, AUL is hereby authorized by the Contractholder to value and transfer the Participant Account's share of the Variable Account to the Fixed Interest Account as of the date provided in Section 4.1(h). Such transferred amounts shall be held in the Fixed Interest Account until the Participant's Annuity Commencement Date. The Contractholder request shall include certification as to the purpose for the annuity, the election of one of the following annuity options, notification of the Annuity Commencement Date, written designation of the contingent annuitant or beneficiary, and any election forms needed in connection with any benefit option requested. The amount of any annuity shall be computed from the Table of Immediate Annuities then included in this contract, except as provided under Section 4.7.
Election of Annuity Options. The owner may elect to have annuity payments made under any one of the Annuity Options described below or in any other manner agreeable to the Company. Any such election shall be made in writing to the Company at its Home Office at least 30 days before the Maturity Date. The election may be changed in the same manner at any time prior to the surrender of this Contract. If the amount of payments for different guaranteed periods are the same at any given age, the Company will deem the longer period certain to have been chosen. OPTION 1 - LIFE ANNUITY - An annuity payable monthly during the lifetime of the Annuitant, ceasing with the last payment due prior to his or her death. OPTION 2A - JOINT AND SURVIVOR LIFE ANNUITY - an annuity payable monthly during the joint lifetime of the Annuitant and the Joint Annuitant and continuing, after the death of either, during the lifetime of the survivor, ceasing with the last payment due prior to the death of the survivor.
Election of Annuity Options. At the written request of the Contractholder pursuant to paragraph (a)(2) of "'Benefit Responsive' Plan Benefits and Annuities," AUL shall apply all or a portion of the Account Value (subject to any charges discussed below in the last paragraph of "Other Charges") of a Participant Account for the purpose of providing a fixed payment annuity under the Plan. Upon receipt of a request for an annuity, AUL is hereby authorized by the Contractholder to value and transfer the Participant Account's share of the Variable Account to the Fixed Interest Account as of the date provided in paragraph (h) of the "General Withdrawal Provisions" section discussed above. Such transferred amounts shall be held in the Fixed Interest Account until the Participant's Annuity Commencement Date. The Contractholder request shall include certification as to the purpose for the annuity, the election of one of the following annuity options, notification of the Annuity Commencement Date, written designation of the contingent annuitant or beneficiary, and any election forms needed in connection with any benefit option requested. The amount of any annuity shall be computed from the Table of Immediate Annuities then included in the Contract, except as provided below under "Alternate Nonparticipating Retirement Annuity." Annuity Options:
Election of Annuity Options. An Annuitant is required to elect an annuity payment option. The Annuitant must Request an annuity payment option or change an annuity payment option no later than 30 days prior to the Annuity Commencement Date elected by the GLWB Elector. To the extent available under the IRA, the annuity payment options are: Income for Single Life Only Income for Single Life with Guaranteed Period Income for Joint Life Only Income for Joint Life with Guaranteed Period Income for a Specific Period Any other form of annuity payment permitted under the IRA, if acceptable to Great-West. The annuity option that will always be available is the Income for Single Life Only Annuity. If this annuity option is elected, Great-West will make payments to the Annuitant at a frequency specified in the annuity certificate or other statement for the duration of the Annuitant’s lifetime. Payments will cease pursuant to the terms of the certificate or other statement. Annuity purchase rates will be the same rates that are available for a Single Premium Immediate Annuity currently offered by Great-West at the time of annuitiziation
Election of Annuity Options. At the written request of the Participant, AUL shall apply all or a portion of the Account Value (subject to Section 6.5, and minus any outstanding loan balance of the Participant) of the Participant Account for the purpose of providing a fixed payment annuity. Upon receipt of such request, AUL is hereby authorized by such Participant to value and transfer the Participant Account's share of the Variable Account to the Fixed Interest Account as of the date that AUL receives such written request at its Home Office. Such transferred amounts shall be held in the Fixed Interest Account until the Participant's Annuity Commencement Date. The Participant request shall include certification as to the purpose for the annuity and the election of one of the following annuity options. The amount of the annuity shall be computed from the Table of Immediate Annuities then included in this contract, except as provided under Section 4.4.
Election of Annuity Options. At the written request of the Contractholder, AUL shall apply all or a portion of the Contractholder's Account Value (subject to Section 6.5) for the purpose of providing a fixed payment annuity. Upon receipt of such request, AUL is hereby authorized by the Contractholder to value and transfer the Contractholder's share of the Variable Account to the Fixed Interest Account as of the date that AUL receives such written request at its Home Office. Such transferred amounts shall be held in the Fixed Interest Account until the Contractholder's Annuity Commencement Date. The Contractholder request shall include the election of one of the following annuity options. The amount of the annuity shall be computed from the Table of Immediate Annuities then included in this contract, except as provided under Section 4.4.
Election of Annuity Options. At the written request of the Contractholder, AUL shall apply all or a portion of the Account Value (subject to Section 6.5) of a Participant Account for the purpose of providing a fixed payment annuity under the Plan. Upon receipt of such request, AUL is hereby authorized by the Contractholder to value and transfer the Participant Account's share of the Variable Account to the Fixed Interest Account as of the date that AUL receives such written request at its Home Office. Such transferred amounts shall be held in the Fixed Interest Account until such time as such amounts are used to provide an annuity under the Plan. The Contractholder request shall include certification as to the purpose for the annuity and the election of one of the following annuity options. The amount of the annuity shall be computed from the Table of Immediate Annuities then included in this contract, except as provided under Section 4.4.
