JOINT AND SURVIVOR ANNUITY. Annuity Payments payable during the joint lifetime of the payee and a designated second natural person and then during the lifetime of the survivor. Unless the Annuity Option provides for commutation by the payee, a payee may not withdraw or otherwise end an Annuity Option after it begins. Payments will end upon the payee's death unless the Annuity Option provides for payments continuing to a successor payee. No successor payee may extend the period of time over which the remaining payments are to be made.
Appears in 7 contracts
Samples: Group Contract (Keyport Variable Account a/Ma), Group Contract (Keyport Variable Account a/Ma), Group Contract (Variable Account a of Keyport Benefit Life Insurance Co)
JOINT AND SURVIVOR ANNUITY. Annuity Income Payments payable during the joint lifetime of the payee and a designated second natural person and then during the lifetime of the survivor. Unless the Annuity Option provides for commutation by the payee, a payee may not withdraw or otherwise end an Annuity Option after it begins. Payments will end upon the payee's death unless the Annuity Option provides for payments continuing to a successor payee. No successor payee may extend the period of time over which the remaining payments are to be made.
Appears in 3 contracts
Samples: Variable Annuity Contract (Keyport Variable Account a/Ma), Variable Annuity Contract (Keyport Variable Account a/Ma), Variable Annuity Contract (Keyport Variable Account a/Ma)
