MATURITY OPTIONS. If the Annuitant is living on the Maturity Date shown on page 3, and that Maturity Date is earlier than the contract anniversary nearest the Annuitant's 90th birthday, the Owner may elect between the following maturity options: o payment of a monthly income under a payment plan chosen by the Owner; or o deferral of the maturity benefit and continuation of this contract to the Optional Maturity Date. The contract will continue under this option if a written election for this purpose is received by the Company or if on the Maturity Date shown on page 3, the Owner has not chosen a payment plan. If the Annuitant is living on the Maturity Date and that Maturity Date is on or after the contract anniversary nearest the Annuitant's 90th birthday, the Company will pay a monthly income under a payment form chosen by the Owner. PAYMENT OF MATURITY BENEFIT. The amount of the monthly income paid as the maturity benefit will depend on the payment plan chosen (see Section 11) and the maturity value. The maturity value of this contract will be the Accumulation Value of the contract on the effective date of the maturity benefit. The maturity benefit will be effective on the Maturity Date. However, if the New York Stock Exchange is closed on the Maturity Date, the effective date will be the Valuation Date next preceding the Maturity Date. If no payment form is chosen at the time a monthly income becomes payable, payments will be made under the variable payment form of Life Income Plan (Option C), with installments certain for ten years, as described in Section 11.1.
MATURITY OPTIONS. If the Annuitant is living on the Maturity Date shown on page 3, and that Maturity Date is earlier than the contract anniversary nearest the Annuitant’s 90th birthday, the Owner may elect between the following maturity options: • payment of a monthly retirement life income to the Annuitant under a payment plan chosen by the Owner; or • deferral of the maturity benefit and continuation of this contract, without any Disability Waiver of Purchase Payment Benefit, to the Optional Maturity Date. The contract will continue under this option if a written election for this purpose is received by the Company or if on the Maturity Date shown on page 3, the Owner has not chosen a payment plan. If the Annuitant is living on the Maturity Date and that Maturity Date is on or after the contract anniversary nearest the Annuitant’s 90th birthday, the Company will pay a monthly retirement life income to the Annuitant under a payment form chosen by the Owner. QQV.ACCT.B
MATURITY OPTIONS. If the Annuitant is living on the Maturity Date shown on page 3, and that Maturity Date is earlier than the contract anniversary nearest the Annuitant’s 90th birthday, the Owner may elect between the following maturity options: • payment of a monthly income under a payment plan chosen by the Owner; or • deferral of the maturity benefit and continuation of this contract to the Optional Maturity Date. The contract will continue under this option if a written election for this purpose is received by the Company or if on the Maturity Date shown on page 3, the Owner has not chosen a payment plan. If the Annuitant is living on the Maturity Date and that Maturity Date is on or after the contract anniversary nearest the Annuitant’s 90th birthday, the Company will pay a monthly income under a payment form chosen by the Owner.
MATURITY OPTIONS. Unless otherwise noted, Business CD's automatically renew for the same term and at the current interest rate then paid on the day of maturity. The current interest rates are always available on our website. You may also email or call us on the maturity date and we can tell you what the interest rate will be for the next renewal term.
