Common use of Life with Period Certain Clause in Contracts

Life with Period Certain. Periodic payments are made to the designated payee during the Annuitant’s lifetime, with payments guaranteed for a specified period. You may choose to have payments guaranteed five (5) through thirty (30) years (in full years only). If the Annuitant dies before the guaranteed payments are completed, we will pay the remainder of the guaranteed payments to the first among the following who is: (1) living; or (2) an entity or corporation entitled to receive the remainder of the guaranteed payments: (a) the Owner; (b) the Joint Owner; (c) the Contingent Owner; (d) the Beneficiary; or (e) the Contingent Beneficiary. If none are living (or if there is no entity or corporation entitled to receive the remainder of the guaranteed payments), we will pay the remainder of the guaranteed payments to the Owner’s estate. If the Annuitant dies after all of the payments under the period certain have been paid, payments will stop when the Annuitant dies. Additionally, if variable payments are elected under this option, you may redeem all remaining guaranteed variable payments after the Annuity Date. The amount available upon such redemption would be the present value of any remaining guaranteed variable payments at the assumed investment return. Any applicable withdrawal charge will be deducted from the present value as if you terminated the Contract. For purposes of calculating the withdrawal charge, annuity payments made prior to the redemption will be treated as withdrawals. That is, the present value will be reduced by the amount needed to produce withdrawal proceeds equal to the amount of the annuity payment. When a life income settlement option with a period certain provides for installments of the same amount at some ages for a different period certain, we will deem an election to have been made for the longest period certain that could have been elected for such age and amount.

Life with Period Certain. Periodic payments are made to the designated payee during the Annuitant’s lifetime, with payments guaranteed for a specified period. You may choose to have payments guaranteed five (5) through thirty (30) years (in full years only). If the Annuitant dies before the guaranteed payments are completed, we will pay the remainder of the guaranteed payments to the first among the following who is: is (1) living; or (2) an entity or corporation entitled to receive the remainder of the guaranteed payments: (a) the Owner; ; (b) the Joint Owner; ; (c) the Contingent Owner; ; (d) the Beneficiary; or or (e) the Contingent Beneficiary. If none are living (or if there is no entity or corporation entitled to receive the remainder of the guaranteed payments), we will pay the remainder of the guaranteed payments to the Owner’s estate. If the Annuitant dies after all of the payments under the period certain have been paid, payments will stop when the Annuitant dies. Additionally, if variable payments are elected under this option, you may redeem all remaining guaranteed variable payments after the Annuity Date. The amount available upon such redemption would be the present value of any remaining guaranteed variable payments at the assumed investment return. Any applicable withdrawal charge will be deducted from the present value as if you terminated the Contract. For purposes of calculating the withdrawal charge, annuity payments made prior to the redemption will be treated as withdrawals. That is, the present value will be reduced by the amount needed to produce withdrawal proceeds equal to the amount of the annuity payment. When a life income settlement option with a period certain provides for installments of the same amount at some ages for a different period certain, we will deem an election to have been made for the longest period certain that could have been elected for such age and amount.

Life with Period Certain. Periodic payments are made to the designated payee during the Annuitant’s lifetime, with payments guaranteed for a specified period. You may choose to have payments guaranteed five (5) through thirty (30) years (in full years only). For qualified plans, the period chosen cannot exceed the Annuitant’s life expectancy. If the Annuitant dies before the guaranteed payments are completed, we will pay the remainder of the guaranteed payments to the first among the following who is: is (1) living; or (2) an entity or corporation entitled to receive the remainder of the guaranteed payments: (a) the Owner; (b) the Joint Owner; (c) the Contingent Owner; (d) the Beneficiary; or (ed) the Contingent Beneficiary. If none are living (or if there is no entity or corporation entitled to receive the remainder of the guaranteed payments), we will pay the remainder of the guaranteed payments to the Owner’s estate. If the Annuitant dies after all of the payments under the period certain have been paid, payments will stop when the Annuitant dies. Additionally, if variable payments are elected under this option, you may redeem all remaining guaranteed variable payments after the Annuity Date. The amount available upon such redemption would be the present value of any remaining guaranteed variable payments at the assumed investment return. Any applicable withdrawal charge will be deducted from the present value as if you terminated the Contract. For purposes of calculating the withdrawal charge, annuity payments made prior to the redemption will be treated as withdrawals. That is, the present value will be reduced by the amount needed to produce withdrawal proceeds equal to the amount of the annuity payment. When a life income settlement option with a period certain provides for installments of the same amount at some ages for a different period certain, we will deem an election to have been made for the longest period certain that could have been elected for such age and amount.

Life with Period Certain. Periodic payments are made to the designated payee during the Annuitant’s lifetime, with payments guaranteed for a specified period. You may choose to have payments guaranteed five (5) through thirty (30) years (in full years only). If the Annuitant dies before the guaranteed payments are completed, we will pay the remainder of the guaranteed payments to the first among the following who is: is (1) living; or (2) an entity or corporation entitled to receive the remainder of the guaranteed payments: (a) the Owner; (b) the Joint Owner; (c) the Contingent Owner; (d) the Beneficiary; or (e) the Contingent Beneficiary. If none are living (or if there is no entity or corporation entitled to receive the remainder of the guaranteed payments), we will pay the remainder of the guaranteed payments to the Owner’s estate. If the Annuitant dies after all of the payments under the period certain have been paid, payments will stop when the Annuitant dies. Additionally, if variable payments are elected under this option, you may redeem all remaining guaranteed variable payments after the Annuity Date. The amount available upon such redemption would be the present value of any remaining guaranteed variable payments at the assumed investment return. Any applicable withdrawal charge will be deducted from the present value as if you terminated the Contract. For purposes of calculating the withdrawal charge, annuity payments made prior to the redemption will be treated as withdrawals. That is, the present value will be reduced by the amount needed to produce withdrawal proceeds equal to the amount of the annuity payment. When a life income settlement option with a period certain provides for installments of the same amount at some ages for a different period certain, we will deem an election to have been made for the longest period certain that could have been elected for such age and amount.

Life with Period Certain. Periodic payments are made to the designated payee during the Annuitant’s lifetime, with payments guaranteed for a specified period. You may choose to have payments guaranteed [five (5) through thirty (30) years years] (in full years only). For qualified plans, the period chosen cannot exceed the Annuitant’s life expectancy. If the Annuitant dies before the guaranteed payments are completed, we will pay the remainder of the guaranteed payments to the first person among the following who is: is (1) living; or (2) an entity or corporation entitled to receive the remainder of the guaranteed payments: (a) the Owner; (b) the Joint Owner; (c) the Contingent Owner; (d) the Beneficiary; or (ed) the Contingent Beneficiary. If none are living (or if there is no entity or corporation entitled to receive the remainder of the guaranteed payments), we will pay the remainder of the guaranteed payments to the Owner’s estate. If the Annuitant dies after all of the payments under the period certain have been paid, payments will stop when the Annuitant dies. Additionally, if variable payments are elected under this option, you may redeem all remaining guaranteed variable payments after the Annuity Date. The amount available upon such redemption would be the present value of any remaining guaranteed variable payments at the assumed investment returnreturn shown on the Contract Specifications. Any applicable withdrawal charge will be deducted from the present value as if you terminated the Contract. For purposes of calculating the withdrawal charge, annuity payments made prior to the redemption will be treated as withdrawals. That is, the present value will be reduced by the amount needed to produce withdrawal proceeds equal to the amount of the annuity payment. When a life income settlement option with a period certain provides for installments of the same amount at some ages for a different period certain, we will deem an election to have been made for the longest period certain that could have been elected selected for such age and amount.

Life with Period Certain. Periodic payments are made to the designated payee during the Annuitant’s lifetime, with payments guaranteed for a specified period. You may choose to have payments guaranteed five (5) through thirty (30) years (in full years only). For qualified plans, the period chosen cannot exceed the Annuitant’s life expectancy. If the Annuitant dies before the guaranteed payments are completed, we will pay the remainder of the guaranteed payments to the first person among the following who is: is (1) living; or (2) an entity or corporation entitled to receive the remainder of the guaranteed payments: (a) the Owner; (b) the Joint Owner; (c) the Contingent Owner; (d) the Beneficiary; or (ed) the Contingent Beneficiary. If none are living (or if there is no entity or corporation entitled to receive the remainder of the guaranteed payments), we will pay the remainder of the guaranteed payments to the Owner’s estate. If the Annuitant dies after all of the payments under the period certain have been paid, payments will stop when the Annuitant dies. Additionally, if variable payments are elected under this option, you may redeem all remaining guaranteed variable payments after the Annuity Date. The amount available upon such redemption would be the present value of any remaining guaranteed variable payments at the assumed investment returnreturn shown on the Contract Specifications. Any applicable withdrawal charge will be deducted from the present value as if you terminated the Contract. For purposes of calculating the withdrawal charge, annuity payments made prior to the redemption will be treated as withdrawals. That is, the present value will be reduced by the amount needed to produce withdrawal proceeds equal to the amount of the annuity payment. When a life income settlement option with a period certain provides for installments of the same amount at some ages for a different period certain, we will deem an election to have been made for the longest period certain that could have been elected selected for such age and amount.

Life with Period Certain. Periodic payments are made to the designated payee during the Annuitant’s lifetime, with payments guaranteed for a specified period. You may choose to have payments guaranteed five seven (57) through thirty (30) years (in full years only). If the Annuitant dies before the guaranteed payments are completed, we will pay the remainder of the guaranteed payments to the first person among the following who is: is (1) living; or (2) an entity or corporation entitled to receive the remainder of the guaranteed payments: (a) the Owner; (b) the Joint Owner; (c) the Contingent Owner; (d) the Beneficiary; or (e) the Contingent Beneficiary. If none are living (or if there is no entity or corporation entitled to receive the remainder of the guaranteed payments), we will pay the remainder of the guaranteed payments to the Owner’s estate. If the Annuitant dies after all of the payments under the period certain have been paid, payments will stop when the Annuitant dies. Additionally, if variable payments are elected under this option, you may redeem all remaining guaranteed variable payments after the Annuity Date. The amount available upon such redemption would be the present value of any remaining guaranteed variable payments at the assumed investment return. Any applicable withdrawal charge will be deducted from the present value as if you terminated the Contract. For purposes of calculating the withdrawal charge, annuity payments made prior to the redemption will be treated as withdrawals. That is, the present value will be reduced by the amount needed to produce withdrawal proceeds equal to the amount of the annuity payment. When a life income settlement option with a period certain provides for installments of the same amount at some ages for a different period certain, we will deem an election to have been made for the longest period certain that could have been elected for such age and amount.

Life with Period Certain. Periodic payments are made to the designated payee during the Annuitant’s lifetime, with payments guaranteed for a specified period. You may choose to have payments guaranteed five (5) through 5)through thirty (30) years (in full years only). If the Annuitant dies before the guaranteed payments are completed, we will pay the remainder of the guaranteed payments to the first among the following who is: is (1) living; or (2) an entity or corporation entitled to receive the remainder of the guaranteed payments: (a) the Owner; (b) the Joint Owner; (c) the Contingent Owner; (d) the Beneficiary; or (ed) the Contingent Beneficiary. If none are living (or if there is no entity or corporation entitled to receive the remainder of the guaranteed payments), we will pay the remainder of the guaranteed payments to the Owner’s estate. If the Annuitant dies after all of the payments under the period certain have been paid, payments will stop when the Annuitant dies. Additionally, if variable payments are elected under this option, you may redeem all remaining guaranteed variable payments after the Annuity Date. The amount available upon such redemption would be the present value of any remaining guaranteed variable payments at the assumed investment return. Any applicable withdrawal charge will be deducted from the present value as if you terminated the Contract. For purposes of calculating the withdrawal charge, annuity payments made prior to the redemption will be treated as withdrawals. That is, the present value will be reduced by the amount needed to produce withdrawal proceeds equal to the amount of the annuity payment. When a life income settlement option with a period certain provides for installments of the same amount at some ages for a different period certain, we will deem an election to have been made for the longest period certain that could have been elected selected for such age and amount.

Life with Period Certain. Periodic payments are made to the designated payee during the Annuitant’s lifetime, with payments guaranteed for a specified period. You may choose to have payments guaranteed five (5) through thirty (30) years (in full years only). For qualified plans, the period chosen cannot exceed the Annuitant’s life expectancy. If the Annuitant dies before the guaranteed payments are completed, we will pay the remainder of the guaranteed payments to the first person among the following who is: is (1) living; or (2) an entity or corporation entitled to receive the remainder of the guaranteed payments: (a) the Owner; (b) the Joint Owner; (c) the Contingent Owner; (d) the Beneficiary; or (ed) the Contingent Beneficiary. If none are living (or if there is no entity or corporation entitled to receive the remainder of the guaranteed payments), we will pay the remainder of the guaranteed payments to the Owner’s estate. If the Annuitant dies after all of the payments under the period certain have been paid, payments will stop when the Annuitant dies. Additionally, if variable payments are elected under this option, you may redeem all remaining guaranteed variable payments after the Annuity Date. The amount available upon such redemption would be the present value of any remaining guaranteed variable payments at the assumed investment returnreturn shown on the Contract Specifications. Any applicable withdrawal charge will be deducted from the present value as if you terminated the Contract. For purposes of calculating the withdrawal charge, annuity payments made prior to the redemption will be treated as withdrawals. That is, the present value will be reduced by the amount needed to produce withdrawal proceeds equal to the amount of the annuity payment. When a life income settlement option with a period certain provides for installments of the same amount at some ages for a different period certain, we will deem an election to have been made for the longest period certain that could have been elected selected for such age and amount.

Life with Period Certain. Periodic payments are made to the designated payee during the Annuitant’s lifetime, with payments guaranteed for a specified period. You may choose to have payments guaranteed [five (5) through thirty (30) years years] (in full years only). For qualified plans, the period chosen cannot exceed the Annuitant’s life expectancy. If the Annuitant dies before the guaranteed payments are completed, we will pay the remainder of the guaranteed payments to the first among the following who is: is (1) living; or (2) an entity or corporation entitled to receive the remainder of the guaranteed payments: (a) the Owner; (b) the Joint Owner; (c) the Contingent Owner; (d) the Beneficiary; or (ed) the Contingent Beneficiary. If none are living (or if there is no entity or corporation entitled to receive the remainder of the guaranteed payments), we will pay the remainder of the guaranteed payments to the Owner’s estate. If the Annuitant dies after all of the payments under the period certain have been paid, payments will stop when the Annuitant dies. Additionally, if variable payments are elected under this option, you may redeem all remaining guaranteed variable payments after the Annuity Date. The amount available upon such redemption would be the present value of any remaining guaranteed variable payments at the assumed investment return. Any applicable withdrawal charge will be deducted from the present value as if you terminated the Contract. For purposes of calculating the withdrawal charge, annuity payments made prior to the redemption will be treated as withdrawals. That is, the present value will be reduced by the amount needed to produce withdrawal proceeds equal to the amount of the annuity payment. When a life income settlement option with a period certain provides for installments of the same amount at some ages for a different period certain, we will deem an election to have been made for the longest period certain that could have been elected for such age and amount.

Life with Period Certain. Periodic payments are made to the designated payee during the Annuitant’s lifetime, with payments guaranteed for a specified period. You may choose to have payments guaranteed [five (5) through thirty (30) )] years (in full years only). For qualified plans, the period chosen cannot exceed the Annuitant’s life expectancy. If the Annuitant dies before the guaranteed payments are completed, we will pay the remainder of the guaranteed payments to the first among the following who is: is (1) living; or (2) an entity or corporation entitled to receive the remainder of the guaranteed payments: (a) the Owner; (b) the Joint Owner; (c) the Contingent Owner; (d) the Beneficiary; or (ed) the Contingent Beneficiary. If none are living (or if there is no entity or corporation entitled to receive the remainder of the guaranteed payments), we will pay the remainder of the guaranteed payments to the Owner’s estate. If the Annuitant dies after all of the payments under the period certain have been paid, payments will stop when the Annuitant dies. Additionally, if variable payments are elected under this option, you may redeem all remaining guaranteed variable payments after the Annuity Date. The amount available upon such redemption would be the present value of any remaining guaranteed variable payments at the assumed investment return. Any applicable withdrawal charge will be deducted from the present value as if you terminated the Contract. For purposes of calculating the withdrawal charge, annuity payments made prior to the redemption will be treated as withdrawals. That is, the present value will be reduced by the amount needed to produce withdrawal proceeds equal to the amount of the annuity payment. When a life income settlement option with a period certain provides for installments of the same amount at some ages for a different period certain, we will deem an election to have been made for the longest period certain that could have been elected for such age and amount.

Life with Period Certain. Periodic payments are made to the designated payee during the Annuitant’s lifetime, with payments guaranteed for a specified period. You may choose to have payments guaranteed five seven (57) through thirty (30) years (in full years only). If the Annuitant dies before the guaranteed payments are completed, we will pay the remainder of the guaranteed payments to the first among the following who is: (1) living; or (2) an entity or corporation entitled to receive the remainder of the guaranteed payments: (a) the Owner; (b) the Joint Owner; (c) the Contingent Owner; (d) the Beneficiary; or (e) the Contingent Beneficiary. If none are living (or if there is no entity or corporation entitled to receive the remainder of the guaranteed payments), we will pay the remainder of the guaranteed payments to the Owner’s estate. If the Annuitant dies after all of the payments under the period certain have been paid, payments will stop when the Annuitant dies. Additionally, if variable payments are elected under this option, you may redeem all remaining guaranteed variable payments after the Annuity Date. The amount available upon such redemption would be the present value of any remaining guaranteed variable payments at the assumed investment return. Any applicable withdrawal charge will be deducted from the present value as if you terminated the Contract. For purposes of calculating the withdrawal charge, annuity payments made prior to the redemption will be treated as withdrawals. That is, the present value will be reduced by the amount needed to produce withdrawal proceeds equal to the amount of the annuity payment. When a life income settlement option with a period certain provides for installments of the same amount at some ages for a different period certain, we will deem an election to have been made for the longest period certain that could have been elected for such age and amount.