Common use of Election of Annuity Options Clause in Contracts

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. At the written request of the ParticipantContractholder, at any time prior to termination of the contract pursuant to the provisions of Article 8, 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 a Participant Account for the purpose of providing to provide a fixed payment annuityannuity under the Plan. Upon receipt of such requesta request for an annuity, AUL is hereby authorized by such Participant 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 Officeprovided in Section 4.8(e). 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 Participant's Annuity Commencement DatePlan. The Participant Contractholder request shall include certification as to the purpose for the annuity and the election of one of the following annuity optionsoptions listed in Section 4.2. The amount of the any annuity shall be computed from the Table of Immediate Annuities then included in this contract, except as provided under Section 4.4.