GS Annuity Sample Clauses

GS Annuity. The Company shall be responsible for the sale of the GS Annuity through selling broker-dealers and their affiliated insurance agencies which have entered into a selling agreement for the GS Annuity with the Company and American Express Service Corporation in accordance with the terms of the Wholesaling Agreement dated February 1, 1999, by and among the Company, the Distributor, American Express Service Corporation and Xxxxxxx Sachs Insurance Agency, Inc. The Distributor, in its capacity as exclusive wholesaler, shall be fully responsible for developing, implementing, and managing the marketing program for, and marketing, the GS Annuity. The parties will administer and service the GS Annuity as set forth in section 5.2 (a) in accordance with federal and state law and will allocate expenses as between the Company and the Trust as set forth in Sections 7.3 and 7.4. The Company, through its agreements with selling broker dealers, shall ensure that each sale of a Contract satisfies applicable suitability requirements under insurance and securities laws and regulations, including without limitation the rules of the NASD. The Company shall adopt and implement procedures reasonably designed to ensure that information concerning the Trust and the Distributor that is intended for use only by brokers or agents selling the GS Annuity (i.e., information that is not intended for distribution to Contract Owners or offerees) is so used.
Sample 1
AutoNDA by SimpleDocs
GS Annuity. The Distributor shall be responsible for designing and paying for all marketing materials that relate to the GS Annuity or the Funds. However, no marketing material created by the Distributor can be used to solicit sales of the GS Annuity without the prior written consent of the Company, which consent shall not be unreasonably withheld. The Company shall use its best efforts to review all marketing materials submitted by the Distributor for approval, and provide a written response to such marketing proposals, within 10 calendar days or a reasonable period of time after receiving such marketing material; provided, however, that the Distributor shall not interpret a lack of response by the Company within such time period as approval to use such proposed, but unapproved, marketing material to solicit sales of the GS Annuity. The Company shall be responsible for approving and amending, if required, the annuity and insurance related content of all GS Annuity marketing material. After such approval by the Company, the Distributor shall be responsible for making any required filings of such marketing material with the NASD and the Company shall be responsible for making any required filings of such marketing material with State Insurance Departments. The Distributor and the Company shall cooperate to address comments from the NASD or Sate Insurance Departments regarding marketing materials that have been filed pursuant to this Section 5.6. The Distributor shall be responsible for the accurate reproduction of this content. The Company is responsible for providing the content for the annuity application, replacement forms, "Procedures and Resource Manual" and all forms in the new business kits for the GS Annuity. The Distributor is responsible for obtaining the Company's approval of these forms after graphic layout, obtaining NASD approval, as applicable, and printing these materials. The Distributor is also responsible for providing these new business kits (including the GS Annuity prospectus supplied by the Company to the Distributor) to agents that are appropriately insurance licensed and appointed with the Company. The Company is responsible for preparing, printing and mailing the GS Annuity Contract to new contract owners and providing all on-going service forms to contract owners as part of servicing the annuity contract.
Sample 1

Related to GS Annuity

  • Life Annuity The monthly annuity shall be payable to the annuitant for as long as the annuitant lives, and shall end with the last monthly payment before the death of the annuitant.

  • Fixed Annuity 10 1.16 Fund(s) ........................................................... 10 1.17

  • ANNUITY Payment of an income:

  • Qualified Joint and Survivor Annuity An immediate annuity for the life of the Participant with a survivor annuity for the life of the spouse which is not less than 50% and not more than 100% of the amount of the annuity which is payable during the joint lives of the Participant and the spouse and which is the amount of benefit which can be purchased with the Participant's vested account balance. The percentage of the survivor annuity under the Plan shall be 50% (unless a different percentage is elected by the Employer in the Adoption Agreement).

  • JOINT AND SURVIVOR ANNUITY The Advisory Committee must direct the Trustee to distribute a married or unmarried Participant's Nonforfeitable Accrued Benefit in the form of a qualified joint and survivor annuity, unless the Participant makes a valid waiver election (described in Section 6.05) within the 90 day period ending on the annuity starting date. If, as of the annuity starting date, the Participant is married, a qualified joint and survivor annuity is an immediate annuity which is purchasable with the Participant's Nonforfeitable Accrued Benefit and which provides a life annuity for the Participant and a survivor annuity payable for the remaining life of the Participant's surviving spouse equal to 50% of the amount of the annuity payable during the life of the Participant. If, as of the annuity starting date, the Participant is not married, a qualified joint and survivor annuity is an immediate life annuity for the Participant which is purchasable with the Participant's Nonforfeitable Accrued Benefit. On or before the annuity starting date, the Advisory Committee, without Participant or spousal consent, must direct the Trustee to pay the Participant's Nonforfeitable Accrued Benefit in a lump sum, in lieu of a qualified joint and survivor annuity, in accordance with Section 6.01, if the Participant's Nonforfeitable Accrued Benefit is not greater than $3,500. This Section 6.04(A) applies only to a Participant who has completed at least one Hour of Service with the Employer after August 22, 1984.

  • JOINT AND LAST SURVIVOR ANNUITY We will make Annuity Payments, payable at the frequency elected, during the joint lifetime of the Annuitant and the Joint Annuitant. Upon the death of either the Annuitant or Joint Annuitant, Annuity Payments will continue to be paid during the remaining lifetime of the survivor. Annuity Payments cease with the final Annuity Payment due prior to the last survivor's death. Option 4 -- Joint and Last Survivor Annuity with 10 Years of Annuity Payments Guaranteed -- We will make Annuity Payments, payable at the frequency elected, during the joint lifetime of the Annuitant and the Joint Annuitant. Upon the death of either the Annuitant or Joint Annuitant, Annuity Payments will continue to be paid during the remaining lifetime of the survivor. If at the last death of the Annuitant and the Joint Annuitant, there have been less than 10 years of Annuity Payments made as selected, Annuity Payments will continue to be made for the remainder of the Guaranteed Period. You may elect to have the present value of the guaranteed Variable Annuity Payments remaining, as of the date due proof of the Annuitant's death is received at our Annuity Service Office, commuted at the Assumed Investment Return selected. We will require the return of this Contract and proof of death prior to the payment of any commuted values. ANNUITY -- You can elect to have the Annuity Option payable as Fixed Annuity Payments or Variable Annuity Payments or a combination. Fixed Annuity Payments are guaranteed as to dollar amount. Variable Annuity Payments will reflect the investment experience of the Separate Account in accordance with the allocation of the Account Value to the Subaccounts. Unless another payee is designated, you will be the payee of the Annuity Payments. The Adjusted Account Value will be applied to the applicable Fixed and/or Variable Annuity Tables to determine your first Annuity Payment. The Adjusted Account Value is determined on the Annuity Calculation Date which is a Business Day no more than five Business Days prior to the Annuity Date. The Adjusted Account Value is the Account Value, less any Premium and Other Taxes or other applicable taxes and less the Account Fee. The amount of the first payment for each $1,000 of Adjusted Account Value is shown in the Annuity Tables. FIXED ANNUITY -- Fixed Annuity Payments are based upon the Annuity Option elected, the Annuitant's Attained Age and sex, and the appropriate Fixed Annuity Option Table. If, as of the Annuity Calculation Date, the then-current Fixed Annuity Option rates applicable to this class of contracts provide an Annuity Payment greater than that which is guaranteed under the same Annuity Option under this Contract, then the greater payment will be made. The dollar amount of the first Variable Annuity Payment is determined as follows. The first Variable Annuity Payment will be based upon the Annuity Option elected, the Annuitant's Attained Age and sex, and the appropriate Variable Annuity Option Table. If, as of the Annuity Calculation Date, the then current Variable Annuity Option rates applicable to this class of Contracts provide a first Annuity Payment greater than that which is guaranteed under the same Annuity Option under this Contract, the greater payment will be made. The dollar amount of Variable Annuity Payments for each applicable Subaccount after the first payment is determined as follows:

  • ANNUITY PAYMENT OPTIONS a. Life Annuity / Life Annuity with Certain Period -- Fixed and/or Variable Annuity Payments will be made for the lifetime of the Annuitant with no Certain Period, or life and a 10 year Certain Period, or life and a 20 year Certain Period.

  • 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.

  • Early Retirement Benefit If the Executive terminates employment after the Early Retirement Date but before the Normal Retirement Date, and for reasons other than death or Disability, the Bank shall pay to the Executive the benefit described in this Section 2.2.

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

Time is Money Join Law Insider Premium to draft better contracts faster.