Common use of INCOME BENEFITS Clause in Contracts

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. 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 the 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. 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 the 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.