Fixed Annuity Payments. The minimum guaranteed income purchased per $1,000 of the net amount applied to a fixed annuity is based on an annual interest rate of 3% and the 1983a Mortality Table with the ages set back ten (10) years. Conversion to Current Rates – Annuity payments will be based on the greater of: • our current income factors in effect for this Contract on the Annuity Date; or • our guaranteed income factors. The dollar amount of any payments after the first annuity payment is specified during the annuity payment period according to the provisions of the elected Annuity Option.
Fixed Annuity Payments. To the extent a fixed income option has been elected, the Contract Value allocated to the fixed annuity payment option, less any applicable taxes and other Contract charges, shall be applied to the payment of the income option elected at annuity rates at least as great as the annuity rates based upon the Table of Income Options specified in the Contract. The appropriate rate must be determined by the sex (except where, as in the case of certain Qualified Plans and other employer-sponsored retirement plans, such classification is not permitted) and age of the Annuitant and designated second person, if any. In no event will the fixed payments be changed once they begin. VARIABLE ANNUITY PAYMENT. The initial variable annuity payment is determined by taking the Contract Value allocated to that Investment Division, less any applicable taxes and other Contract charges, and then applying it to the Table of Income Options specified in the Contract. The appropriate rate must be determined by the sex (except where, as in the case of certain Qualified Plans and other employer-sponsored retirement plans, such classification is not permitted) and age of the Annuitant and designated second person, if any. VA620 26 INCOME PROVISIONS (CONT'D) The first variable annuity payment is divided by the value of an Annuity Unit as of the Income Date to establish the number of Annuity Units representing each variable annuity payment. The number of Annuity Units determined for the first variable annuity payment remains constant for the second and subsequent variable annuity payments, assuming that no reallocation of Contract Values is made. The amount of the second and each subsequent variable annuity payment is determined by multiplying the number of Annuity Units by the Annuity Unit Value as of the Business Day next preceding the date on which each payment is due. ANNUITY UNIT VALUE. The initial value of an Annuity Unit of each Investment Division was set when the Investment Divisions were established. The value may increase or decrease from one Business Day to the next. The Table of Income Options contained in the Contract is based on the assumed net investment rates described in the Basis of Computation provision. If the actual net investment rate experienced by an Investment Division exceeds the assumed net investment rate, variable annuity payments will increase over time. Conversely, if the actual net investment rate is less than the assumed net investment rate, variable annu...
Fixed Annuity Payments. If a Fixed Annuity payment option has been elected, the proceeds payable under this Contract less any applicable premium taxes, shall be applied to the payment of the Fixed Annuity payment option elected at rates which are at least equal to the annuity rates based upon the applicable tables in the Contract. In no event will the Fixed Annuity payments be changed once they begin.
Fixed Annuity Payments. The Company will determine Fixed Annuity Payments by applying annuity rates consistent with the age and sex (unless unisex rates apply) of the Annuitant and, if applicable, the designated second person, to the portion of the Contract Value allocated to the Fixed Annuity Payment options. Annuity rates applied will not be less than the rates provided in the Contract's Table of Income Options. Once begun, the Company will not change the amount of the Fixed Annuity Payments, except upon the first death between the Annuitant and the designated second person under Option 2.
Fixed Annuity Payments. The dollar amount of each Fixed Annuity payment shall be determined in accordance with the annuity payment rates shown on pages 19 and 20, which are based on the minimum guaranteed interest rate of 2.5% per year or, if more favorable to the Payee(s), in accordance with the annuity payment rates published by the Company and in use on the Annuity Commencement Date.
Fixed Annuity Payments. To the extent a fixed income option has been elected, the Contract Value allocated to the fixed annuity payment option, less any applicable taxes and Contract charges, shall be applied to the payment of the income option elected at whichever of the following is more favorable to the Owner:
Fixed Annuity Payments. Annuity Payments made during the Annuity Phase which we guarantee as to the dollar amount of each Annuity Payment.
Fixed Annuity Payments. With respect to Fixed Annuity Payments, the amount set forth in the Annuity Tables as adjusted for the rate of interest credited by SBL, is the amount of each monthly Annuity Payment for Annuity Options 1 through 4, 7 and 8. For Options 5 through 7, Fixed Annuity Payments are based on Contract Value. VARIABLE ANNUITY PAYMENTS With respect to Variable Annuity Payments, the amount set forth in the Annuity Tables, as adjusted for the Assumed Interest Rate, is the amount of the FIRST monthly Annuity Payment for Annuity Options 1 through 4, 7 and 8. The amount of each Annuity Payment after the first for these options is computed by means of Annuity Units. For Options 5 through 7, Variable Annuity Payments are based on Contract Value. Variable Annuity Payments will fluctuate with the performance of the Subaccount(s).
Fixed Annuity Payments. The Table of Fixed Annuity Payment Factors shows the guaranteed amount of the fixed portion of the monthly annuity payments for each $1,000 applied. The factors in this table are based on the 1983a Individual Annuity Mortality Table with interest at the rate of 2 1/2% a year. The guaranteed amount of the fixed portion of the annuity payments will depend on the adjusted age of the Measuring Person on the date the first annuity payment is due. The adjusted age is determined from the actual age on the Measuring Person's birthday nearest the date the first annuity payment is due, by subtracting one year for each complete 10 year period elapsed since the Date of Issue. TABLE OF FIRST VARIABLE ANNUITY PAYMENT FACTORS Monthly life annuity with payments on a variable basis for each $1,000 applied. -------------------------------------------------------------------------------- Option B (Variable) Life Annuity Without Option A (Variable) Further Payment on Life Annuity with Payments Death Adjusted for a Guaranteed Period of Measuring Person Age of Measuring ------------------------------------------------------------------------- ----------------------- Person on Birthday 5 Years 10 Years 20 Years Nearest Date ----------------- ------------------ ------------------- of First Payment Male Female Male Female Male Female Male Female ---------------- ---- ------ ---- ------ ---- ------ ---- ------ 55 4.50 4.13 4.46 4.11 4.32 4.05 4.51 4.13 56 4.58 4.19 4.54 4.18 4.38 4.10 4.59 4.20 57 4.67 4.26 4.62 4.24 4.44 4.16 4.68 4.27 58 4.76 4.33 4.71 4.31 4.50 4.22 4.78 4.34 59 4.86 4.41 4.80 4.39 4.57 4.28 4.88 4.42 60 4.96 4.49 4.90 4.46 4.63 4.35 4.98 4.50 61 5.08 4.58 5.00 4.55 4.70 4.41 5.10 4.59 62 5.20 4.67 5.11 4.64 4.77 4.48 5.22 4.69 63 5.32 4.77 5.23 4.73 4.84 4.55 5.36 4.79 64 5.46 4.88 5.35 4.83 4.91 4.62 5.50 4.89 65 5.61 4.99 5.47 4.94 4.97 4.69 5.65 5.01 66 5.76 5.11 5.61 5.05 5.04 4.77 5.81 5.13 67 5.93 5.24 5.74 5.17 5.11 4.84 5.99 5.27 68 6.10 5.38 5.89 5.29 5.17 4.92 6.17 5.41 69 6.29 5.53 6.04 5.43 5.24 5.00 6.37 5.56 70 6.49 5.69 6.20 5.57 5.30 5.07 6.59 5.73 71 6.69 5.86 6.36 5.72 5.35 5.15 6.81 5.91 72 6.91 6.05 6.52 5.88 5.41 5.22 7.05 6.10 73 7.14 6.25 6.69 6.04 5.46 5.29 7.31 6.32 74 7.39 6.46 6.87 6.22 5.50 5.35 7.58 6.55 75 7.65 6.70 7.05 6.40 5.54 5.41 7.88 6.79 76 7.92 6.94 7.23 6.59 5.58 5.47 8.19 7.06 77 8.21 7.20 7.41 6.78 5.61 5.52 8.53 7.35 78 8.52 7.48 7.59 6.98 5.64 5.56 8.90 7.66 79 8.84 7.78 7.78 7.19 5.67 5.61 9.29 8.00 80 9.17 8.10 7.96...
Fixed Annuity Payments. The tables in Appendix A show the amount of guaranteed monthly fixed Annuity Payment that can be provided with each $1,000 of available value. The dollar amount of each payment depends upon the Annuity Payment option selected, the adjusted age of any Annuitant and Joint Annuitant, and the amount applied. Variable Annuity Payments The tables in Appendix B show the amount of the first monthly variable Annuity Payment that can be provided with each $1,000 of available value. The dollar amount of the first payment depends upon the Annuity Payment option selected, the adjusted age of any Annuitant and Joint Annuitant, the amount applied, and the Assumed Investment Return. A number of Annuity Units are determined by dividing this dollar amount by the then current Annuity Unit value. This determination is made separately for each Sub-Account of the Variable Account. The number of Annuity Units remains unchanged during the period of Annuity Payments, except for transfers and in the case of certain joint Annuity Payment options that provide for a reduction in payment after the death of an Annuitant. [A123456] ICC19-70506 Minnesota Life 12 The dollar amount of the second and later variable Annuity Payments is equal to the number of Annuity Units determined for each Sub-Account multiplied by the annuity unit value for that Sub-Account. The payment amount may increase or decrease. The variable Annuity Payment will not decrease if the annualized return of the Sub-Accounts, reduced for the mortality and expense risk charge and the administrative charge, is at least equal to the Assumed Investment Return as stated in Appendix B. The dollar amount determined for each Sub-Account will be aggregated for purposes of making payment.
