Joint Annuitant. The Owner may elect to add a Joint Annuitant prior to the first Eligible Withdrawal, or the election of an Optional Income Plan, whichever occurs first. If a Joint Annuitant has been elected, then we will pay the Benefit Payments or income plan payments, as applicable, for the lifetime of the Annuitant or Joint Annuitant, whoever lives longer. The Joint Annuitant cannot be changed or removed once the first Eligible Withdrawal has been taken or the Payout Phase has begun, whichever occurs first. The Certificate cannot have more than one Joint Annuitant. If there is only one Owner, and Joint Annuitant is selected, then the Joint Annuitant must be the Owner’s Spouse who must also be the sole Primary Beneficiary of the Certificate. If there are joint Owners, and a Joint Annuitant is selected, then the Joint Annuitant must be the other Owner. If the Owner is a non-living person, other than the custodian or trustee of an IRA, a Joint Annuitant is not allowed. If the Owner is the custodian or trustee of an IRA, and a Joint Annuitant is selected, then the Joint Annuitant must be the Spouse of the Annuitant and the sole beneficiary of the IRA. The Owner assumes responsibility for ensuring that the Joint Annuitant satisfies these conditions at the time of issue and until the Certificate terminates. We may require proof of age, sex and marriage when the Joint Annuitant is added to the Certificate. Beneficiary For purposes of the Payout Phase section, and Certificate continuation under the Death of Owner provision, there are two classes of Beneficiaries, Primary Beneficiary(ies) and Contingent Beneficiary(ies). Primary Beneficiaries and Contingent Beneficiaries are individually and collectively referred to herein as “Beneficiaries.” The Primary Beneficiary is the person(s) named on the Certificate Data Page unless later changed by the Owner. The Primary Beneficiary is the Beneficiary(ies) who is first entitled to receive benefits under the Certificate upon the death of the sole surviving Owner. The Contingent Beneficiary is the person(s) named on the Certificate Data Page unless later changed by the Owner. The Contingent Beneficiary is entitled to receive benefits under the Certificate upon the death of the sole surviving Owner, when all Primary Beneficiaries predecease the sole surviving Owner. Unless the Owner has designated an irrevocable Beneficiary, the Owner may change or add Beneficiaries at any time, subject to the Joint Annuitant provision, by written request...
Joint Annuitant. The person named in the application and in the Contract Data Page upon whose life the payout of this annuity is based and who will receive annuity payouts. If you select a Joint Annuitant, “Annuitant” means the older Joint Annuitant or the sole surviving Joint Annuitant. Joint Annuitants must be one another’s Spouse as of the Effective Date. If a Contingent Annuitant is named, then the Annuitant will be considered the primary Annuitant. Annuity Account - An account that reflects the Owner’s interests in the Sub-Accounts in both the Investment Segment and Income Segment. Annuity Account Value - The total value of all the Owner’s interests in the Sub-Accounts in both the Investment Segment and Income Segment. The Annuity Account Value is credited with a return based upon investment experience of the Sub-Account(s) selected by the Owner and will increase and decrease accordingly. Annuity Commencement Date - The date annuity payouts begin, as shown on the Contract Data Page, which is either the Payout Election Date or the Annuitant’s 99th birthday if no Payout Election Date has been established. The Owner may change the Annuity Commencement Date if annuity payouts have not already begun. Upon death of the Owner, the Beneficiary may change the Annuity Commencement Date only if the Beneficiary is the Owner’s surviving Spouse and elects to continue the Contract. In all cases, the Annuity Commencement Date must occur prior to the Annuitant’s 99th birthday. J466-NYrev 4 Annuity Payout Period - The period beginning on the Annuity Commencement Date and continuing until all annuity payouts have been made under this Contract.
Joint Annuitant. A person You designate to receive lifetime annuity income after your death. All annuity income during your life must be received only by you. Either You or the Joint Annuitant generally must be no older than age 85 on the Contract Date. The Joint Annuitant may not be an Owner.
Joint Annuitant. Upon annuitization, a person other than the Annuitant on whose continuation of life Annuity payments may be made. The contract will have a Joint Annuitant only if the Annuity settlement option selected provides for a survivor. The Joint Annuitant may not be changed.
Joint Annuitant. A person who will receive annuity income jointly with the Annuitant in accordance with the terms of the Contract. If the Joint Annuitant survives the Annuitant, he or she will have the right to: (a) Exchange from one Investment Option to another; (b) change any Beneficiary (except that an irrevocable Beneficiary may not be changed without that Beneficiary's consent); (c) cancel the Contract during the free look period; and (d) instruct us how to vote shares of the Fund in which the Investment Option invests. Either the Annuitant or the Joint Annuitant generally must be no older than age 85 on the Contract Date. The Joint Annuitant may also be an Owner.
Joint Annuitant. Upon annuitization, a person other than the Annuitant on whose continuation of life Annuity payments may be made. The contract will have a Joint Annuitant only if the Annuity settlement option selected provides for a survivor. The Joint Annuitant may not be changed. Maximum Anniversary Value - The highest attained Anniversary Value prior to the earlier of the date of death or the decedent’s 81st birthday. Net Asset Value Per Share - The value per share of any Fund on any Valuation Day. This amount will never be less than that required by the Securities and Exchange Commission. Payee - The person, designated by You, to whom Annuity payments will be made. Premium Tax - The amount of tax, if any, charged by a federal, state, or other governmental entity on premium payments or Contract Values. On any contract subject to a Premium Tax, We may deduct the tax at the time We pay the tax to the applicable taxing authorities, at the time the contract is surrendered or on the Annuity Commencement Date. If We deduct the tax after Your premium payments have been applied to the Accounts, the tax will be deducted from the Accounts on a pro-rata basis.
Joint Annuitant. A person You designate to receive lifetime annuity income after your death. If the Joint Annuitant survives you, he or she will have the right to: (a) Exchange from one Investment Option to another; (b) change any Beneficiary (except that an irrevocable Beneficiary may not be changed without that Beneficiary's consent); (c) cancel the Contract during the free look period; (d) instruct us how to vote shares of the Fund in which your Investment Option invests; and (e) to withdraw from the Contract during the Withdrawal Period, if there is one. Beneficiary or Beneficiaries The person or persons You designate to receive any payments under this Contract when there is no longer a living Annuitant or Joint Annuitant. A Beneficiary who makes a timely election may choose to receive a lump sum instead of any remaining periodic annuity income. Surviving Beneficiaries will receive equal shares unless You specify otherwise. If (1) no Beneficiary survives You and the Joint Annuitant (if any), and (2) the Withdrawal Period or Guarantee Period (if any) has not ended, we will provide a lump sum to the estate of the last to die of You and the Joint Annuitant. Each Beneficiary receiving annuity income will have the right to instruct us how to vote Fund shares attributable to that income. A Beneficiary may be revocable or irrevocable. You may not change an irrevocable Beneficiary without that Beneficiary's consent. A Beneficiary may be a "Primary Beneficiary" or a "Contingent Beneficiary." No Contingent Beneficiary has the right to proceeds unless all of the Primary Beneficiaries die before proceeds are determined.
Joint Annuitant. The person named as Joint Annuitant upon whose life, together with the Annuitant, Annuity Payments may be determined. If Joint Annuitants are named, all references to Annuitant shall mean the Joint Annuitants.
Joint Annuitant. The person named as Joint Annuitant upon whose life, together with the Annuitant, Annuity Payments may be determined. If Joint Annuitants are named, all references to Annuitant shall mean the Joint Annuitants. JOINT OWNER If more than one Owner has been designated, each Owner shall be a Joint Owner of the contract. Joint Owners have equal ownership rights and must both authorize any exercising of those ownership rights unless otherwise permitted by us. When two people are named as Joint Owners, the term "Owner" means the Joint Owner or the survivor. Joint Owners are not permitted if the Owner is not a natural person. MATURITY DATE The date this contract matures. The Maturity Date will be the first of the month on or following the oldest Annuitant's 95th birthday. MINNESOTA LIFE ("WE", "OUR", "US") Minnesota Life Insurance Company.
Joint Annuitant. The person named on the Contract Data Pages whose Age and, if applicable, gender are used in combination with the Annuitant's Age and gender in determining the amount of the Income Payments. The Joint Annuitant cannot be changed.
