Common use of LIFETIME REQUIRED MINIMUM DISTRIBUTION RULES Clause in Contracts

LIFETIME REQUIRED MINIMUM DISTRIBUTION RULES. Notwithstanding anything in the Contract to the contrary, the distribution of the Annuitant's interest under the Contract shall be made in accordance with the requirements of Code Section 408(b)(3) and the Treasury Regulations thereunder, the provisions of which are herein incorporated by reference. If distributions are not made in the form of an annuity on an irrevocable basis (except for acceleration), then distribution of the Annuitant's interest under the Contract must satisfy the requirements of Code Section 408(a)(6) and the Regulations thereunder, rather than the Required Minimum Distribution rule provisions of this Section 4.05A and Section 4.