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.
Appears in 4 contracts
Samples: Insurance Contract (Aul American Unit Trust), Ira Custodial Contract (Aul American Unit Trust), Ira Custodial Contract (Aul American Unit Trust)
