Common use of INCOME OF SPECIFIED AMOUNT Clause in Contracts

INCOME OF SPECIFIED AMOUNT. We will pay income of a specified amount until the principal and interest are exhausted. However, when the Annuitant dies, if We have made Annuity Payments for less than the specified amount, We will continue to make Annuity Payments to the Owner for the balance of the specified amount. If the Owner does not want to receive Annuity Payments, he or she can ask Us for a single lump sum. A single sum payment will be equal to the present value of remaining payments as of the date of receipt of proof of death commuted at the assumed investment rate for a Variable Annuity option and at the Fixed Account guaranteed rate for a Fixed Annuity option.

INCOME OF SPECIFIED AMOUNT. We will pay income of a specified amount until the principal and interest are exhausted. However, when the Annuitant dies, if We have made Annuity Payments annuity payments for less than the specified amount, We will continue to make Annuity Payments annuity payments to the Owner for the balance of the specified amount. If the Owner does not want to receive Annuity Paymentsannuity payments, he or she can ask Us for a single lump sum. A single sum payment will be equal to the present value of remaining payments as of the date of receipt of proof of death commuted at the assumed investment rate for a Variable Annuity option Option and at the a Fixed Account guaranteed rate for a Fixed Annuity option.

INCOME OF SPECIFIED AMOUNT. We will pay income of a specified amount until the principal and interest are exhausted. However, when the Annuitant dies, if We have made Annuity Payments annuity payments for less than the specified amount, We will continue to make Annuity Payments annuity payments to the Owner for the balance of the specified amount. If the Owner does not want to receive Annuity Paymentsannuity payments, he or she can ask Us for a single lump sum. A single sum payment will be equal to the present value of remaining payments as of the date of receipt of proof of death commuted at the assumed investment rate for a Variable Annuity option Option and at the Fixed Account guaranteed rate for a Fixed Annuity option.