INCOME BENEFITS. All or part of any policy proceeds may, instead of being paid in a lump sum, be left with us under any one, or a combination of the income benefit plans available, subject to our minimum amount requirements on the date of election. If the payee is not a natural person, the choice of a payment option will be subject to our approval. We guarantee that the income benefit will not be less than the income that would be provided by the immediate annuity purchase rates we offer at the time. We guarantee that we will have at least the following income benefit plans available. Fixed Income — Equal payments of the amount chosen with interest of not less than 2% per year until the funds left on deposit are exhausted. Life Income — Monthly income will automatically be guaranteed to continue for at least ten years. If the payee dies before the end of the ten-year period, payments will continue to the end of the ten-year period to a person designated in writing by that payee. The purchase rates for the monthly income for a male or female income recipient bought by each $1,000 of benefits are shown below. P11MVP 32 2.42 42 2.69 52 3.10 62 3.76 72 4.92 34 2.47 44 2.76 54 3.20 64 3.94 74 5.26 36 2.52 46 2.83 56 3.32 66 4.14 75+ 5.45 38 2.57 48 2.91 58 3.45 68 4.37 Monthly income amounts for ages not shown are halfway between the two amounts for the nearest two ages that are shown. Amounts shown are based on an annual interest rate of 2% and the Annuity 2000 female mortality table with five-year age setback. We may require evidence of survival for incomes that last more than ten years.
INCOME BENEFITS. All or part of any policy proceeds may, instead of being paid in a lump sum, be left with us under any one, or a combination of the income benefit plans available, subject to our minimum amount requirements on the date of election. If the payee is not a natural person, the choice of a payment option will be subject to our approval. We guarantee that the income benefit will not be less than the income that would be provided by the immediate annuity purchase rates we offer at the time. We guarantee that we will have at least the following income benefit plans available. Fixed Income – Equal payments of the amount chosen with interest of not less than 2% per year until the funds left on deposit are exhausted. Life Income – Monthly income will automatically be guaranteed to continue for at least ten years. If the payee dies before the end of the ten-year period, payments will continue to the end of the ten-year period to a person designated in writing by that payee. The purchase rates for the monthly income for a male or female income recipient bought by each $1,000 of benefits are shown below. P09SE5 Monthly income amounts for ages not shown are halfway between the two amounts for the nearest two ages that are shown. Amounts shown are based on an annual interest rate of 2% and the Annuity 2000 female mortality table with five-year age setback. We may require evidence of survival for incomes that last more than ten years.
INCOME BENEFITS. Income Benefits - Surrender or withdrawal benefits may be used to purchase a lifetime monthly income. Death benefits may be used to purchase a monthly income for the lifetime of the beneficiary. Monthly income payments will automatically be guaranteed to continue for at least ten years, unless another form of payment is requested. Under the automatic form of payment, if the income recipient dies before the end of the ten-year period, payments will continue to the end of the ten-year period to a person designated by the income recipient in writing. Other options of monthly income benefits are available upon request. We may require evidence of the income recipient's survival when monthly income payments have been made for more than ten years. The purchase rates for the monthly income will be set periodically by the Company. However, under the automatic form, the monthly income bought by each $1000 of benefit amount will always be at least as large as that shown below. Single-Life Single-Life 10 years Certain 10 years Certain Age Monthly Income Age Monthly Income 30 $3.12 54 $4.15 32 3.17 56 4.30 34 3.23 58 4.47 36 3.29 60 4.66 38 3.35 62 4.87 40 3.42 64 5.10 42 3.50 66 5.36 44 3.58 68 5.65 46 3.67 70 5.97 48 3.78 72 6.32 50 3.89 74 6.69 52 4.01 75 6.89 Monthly income amounts for ages not shown are halfway between the two amounts for the nearest two ages which are shown. Guaranteed amounts for ages under 30 are the same as those for age 30; guaranteed amounts for ages over 75 are the same as those for age 75. Amounts shown are based on 1983 Table A mortality with interest at 3%. This benefit is not available if the income would be less than $100 a month. POLICY LOANS Policy Loans - You may obtain loans by written request while this policy is in force on the sole security of the amount in the Loan Account for this policy.
INCOME BENEFITS. All or part of any policy proceeds may, instead of being paid in a lump sum, be left with us under any one, or a combination of the income benefit plans available, subject to our minimum amount requirements on the date of election. If the payee is not a natural person, the choice of a payment option will be subject to our approval. We guarantee that the income benefit will not be less than the income that would be provided by the immediate annuity purchase rates we offer at the time. We guarantee that we will have at least the following income benefit plans available.
INCOME BENEFITS. Section 1 ----- Income Benefits Section 2 ----- Options Section 3 ----- Amount and Form of Benefit Payments Section 4 ----- Change in Variable Annuity Payments Section 5 ----- Adjustment to Variable Annuity Reserves Section 6 ----- Mortality and Expense Guarantees Section 7 ----- Basis of Annuity Purchases Section 8 ----- Cancellation of Annuity
INCOME BENEFITS. An Owner of Benefits may elect to have all or any portion of the Investment Accounts which correlate to a Plan Participant used to provide a Flexible Income Option or purchase a benefit payment for the Owner of Benefits, payable under any option of Section 2 of this Article, as long as the benefit conforms to Plan provisions and complies with the following:
(a) The amount available to provide the annuity is as specified by the Plan, as reported to us by you.
(b) The Owner of Benefits, as permitted by the Plan, must request us to purchase, using a form we either furnish or approve.
(c) If no optional form of income is elected, the Normal Income Form will be purchased.
(d) Subject to the provisions of Article VII, Section 11, the Annuity Premium amount applied for an Owner of Benefits must be at least $1,750. (If other annuities have been provided from the Investment Accounts which correlate to the Plan Participant under the contract, this provision does not apply.)
(e) Except for the Flexible Income Option, the form of annuity and the contingent annuitant named (if any) cannot be changed after the Annuity Purchase Date.
INCOME BENEFITS. Income Benefits - Surrender or withdrawal benefits may be used to buy a lifetime monthly income for either Insured as long as the monthly income is at least $100. Death benefits may be used to buy a monthly income for the lifetime of the beneficiary. The monthly income will automatically be guaranteed to continue for at least ten years, unless another form of payment is requested. Under the automatic form of payment, if the income recipient dies before the end of the ten-year period, payments will continue to the end of the ten-year period to a person designated by the income recipient in writing. The purchase rates for the monthly income will be set periodically by the Company. However, under the automatic income benefit, the monthly income bought by each $1,000 of benefit will never be less than that shown below. Monthly Income Monthly Income Monthly Income Age Male Female Age Male Female Age Male Female 0-30 $3.20 $3.09 46 $3.81 $3.61 62 $5.10 $4.73 32 3.25 3.14 48 3.92 3.71 64 5.35 4.95 34 3.31 3.19 50 4.05 3.81 66 5.62 5.20 36 3.38 3.24 52 4.18 3.93 68 5.92 5.47 38 3.45 3.30 54 4.33 4.06 70 6.23 5.78 40 3.53 3.37 56 4.49 4.20 72 6.56 6.11 42 3.62 3.44 58 4.68 4.36 74 6.90 6.48 44 3.71 3.52 60 4.88 4.54 75+ 7.08 6.67 Monthly income amount for Ages not shown are halfway between the two amounts for the nearest two Ages that are shown. Amounts shown are based on the Annuity 2000 table with interest at 3.00%. This benefit is not available if the income would be less than $100 a month. We may require evidence of survival for incomes that last more than ten years. Other Income Options - Surrender, withdrawal or death benefits may be used under any other payment plans that we make available at that time. There is an Interest Settlement Option available under which we will credit interest monthly. Amounts left on deposit under this plan, and credited interest, will be accumulated until you request a withdrawal.
INCOME BENEFITS. 12 Incontestability......................................... 13 Interest................................................. 9 Misstatement............................................. 13 Mortality and Expense Risk Charge........................ 10
INCOME BENEFITS. 12 Incontestability.................................................................................................. 13
INCOME BENEFITS. Income Benefits – Surrender or withdrawal benefits may be used to buy a lifetime monthly income for the Insured as long as the monthly income is at least $100. Death benefits may be used to buy a monthly income for the lifetime of the beneficiary. The monthly income will automatically be guaranteed to continue for at least ten years, unless another form of payment is requested. Under the automatic form of payment, if the income recipient dies before the end of the ten-year period, payments will continue to the end of the ten-year period to a person designated by the income recipient in writing. The purchase rates for the monthly income will be set periodically by the Company. However, under the automatic income benefit, the monthly income bought by each $1,000 of benefit will never be less than that shown below. Monthly income amount for ages not shown are halfway between the two amounts for the nearest two ages that are shown. Amounts shown are based on the Annuity 2000 table with interest at 2.50%. This benefit is not available if the income would be less than $100 a month. We may require evidence of survival for incomes that last more than ten years. Other Income Options – Surrender, withdrawal or death benefits may be used under any other payment plans that we make available at that time. There is an Interest Settlement Option available under which we will credit interest monthly. Xxxxxxx left on deposit under this plan, and credited interest, will be accumulated until you request a withdrawal.
