FIXED PERIOD OPTION Sample Clauses
The Fixed Period Option clause establishes a set timeframe during which certain rights, obligations, or benefits are available to the parties involved. Typically, this clause specifies a defined start and end date, and may apply to options such as lease renewals, purchase rights, or service agreements. By clearly delineating the period in which the option can be exercised, the clause provides certainty and helps prevent disputes over timing or eligibility.
FIXED PERIOD OPTION. This option provides Annuity Payments for a fixed number of years between 5 and 20. If the Contract Value is held in the Fixed Account, then the amount of the Annuity Payments will vary as a result of the interest rate (as adjusted periodically) credited on Fixed Account Contract Value. This rate is guaranteed to be no less than the Guaranteed Rate set forth on page 3. The amount of each Fixed Annuity Payment is determined by dividing Fixed Account Contract Value on the Annuity Payment date by the number of remaining Annuity Payments. If the Contract Value is held in the Separate Account, then the amount of the Annuity Payments will vary as a result of the investment performance of the Subaccounts chosen. The amount of each Variable Annuity Payment is determined by multiplying the Accumulation Unit Value on the Annuity Payment date by the result of dividing total Accumulation Units by the number of remaining Annuity Payments. If the Annuitant dies before receiving the fixed number of Annuity Payments, any remaining Annuity Payments will be made to the Designated Beneficiary.
FIXED PERIOD OPTION. This option provides payments for a fixed number of years between 5 and 20. If the Contract Value is held in the Fixed Account, then the amount of the payments will vary as a result of the interest rate (as adjusted periodically) credited on the Fixed Account. This rate is guaranteed to be no less than the Guaranteed Rate shown on page 3. If the Contract Value is held in the Separate Account, then the amount of the payments will vary as a result of the investment performance of the Subaccounts chosen. If all the Annuitants die before receiving the fixed number of payments, any remaining payments will be made to the Designated Beneficiary.
FIXED PERIOD OPTION. This option provides payments for a fixed number of years between 5 and 20. The amount of the payments will vary as a result of the investment performance of the Subaccounts chosen. If all the Annuitants die before receiving the fixed number of payments, any remaining payments will be made to the Designated Beneficiary.