FIXED ANNUITY. A fixed annuity is an annuity with payments, which remain fixed as to dollar amount throughout the payment period. The Life Annuity Tables for Fixed Payments are used to determine the monthly annuity payment. They show the dollar amount of monthly annuity payment which can be purchased with each $1,000 applied. The amount applied to the fixed annuity will be equal to the cash surrender value allocated to the fixed annuity determined as of the date fixed annuity payments start. If it would produce a larger payment, the fixed annuity payment will be determined using the Life Annuity Tables in effect on the Maturity Date.
Appears in 3 contracts
Samples: Variable Annuity Contract (Tlac Separate Account Fourteen for Variable Annuities), Variable Annuity Contract (Tlac Separate Account Twelve for Variable Annuities), Variable Annuity Contract (Tlac Separate Account Fourteen for Variable Annuities)
FIXED ANNUITY. A fixed annuity is an annuity with payments, which payments that remain fixed as to dollar amount throughout the payment period. The Life Annuity Tables for Fixed Payments are used to determine the monthly annuity payment. They show the dollar amount of monthly annuity payment which that can be purchased with each $1,000 applied. The amount applied to the fixed annuity will be equal to the cash surrender value allocated applicable to the fixed annuity determined as of the date fixed annuity payments start. If it would produce a larger payment, We agree that the fixed annuity payment will be determined using the Life Annuity Tables in effect on the Maturity Date.
Appears in 2 contracts
Samples: Insurance Contract (Travelers Separate Account Nine for Variable Annuities), Annuity Contract (Travelers Separate Account Ten for Variable Annuities)
FIXED ANNUITY. A fixed annuity is an annuity with payments, payments which remain fixed as to dollar amount throughout the payment period. The Life Annuity Tables for Fixed Payments are used to determine the monthly annuity payment. They show the dollar amount of monthly annuity payment which can be purchased with each $1,000 applied. The amount applied to the fixed annuity will be equal to the cash surrender value allocated to the fixed annuity determined as of the date fixed annuity payments start. If it would produce a larger payment, the fixed annuity payment will be determined using the Life Annuity Tables in effect on the Maturity Date.
Appears in 2 contracts
Samples: Variable Annuity Contract (Travelers Separate Account Pf for Variable Annuities), Variable Annuity Contract (Travelers Separate Account Pf Ii for Variable Annuities)
