Common use of MINIMUM ANNUITY PAYMENT REQUIREMENTS Clause in Contracts

MINIMUM ANNUITY PAYMENT REQUIREMENTS. LNY reserves the right to reduce the frequency of payments to an interval which will result in an annuity payment that equals or exceeds the minimum annuity payment amount shown on the Contract Specifications. LNY will pay the Contract Value in a lump sum if the frequency interval is annual and the resulting annuity payment is less than the minimum annuity payment amount shown on the Contract Specifications.

MINIMUM ANNUITY PAYMENT REQUIREMENTS. LNY reserves the right to reduce the frequency of payments to an interval which will result in an annuity each payment that equals or exceeds exceeding the minimum annuity payment amount shown on the Contract Specifications. LNY will pay the Contract Value in a lump sum if the frequency interval is annual and the resulting annuity payment is less than the minimum annuity payment amount shown on the Contract Specifications.

MINIMUM ANNUITY PAYMENT REQUIREMENTS. LNY reserves the right to reduce the frequency of payments to an interval which will result in an annuity each payment that equals or exceeds the minimum annuity payment amount shown on the Contract Specifications. LNY will pay the Contract Value in a lump sum if the frequency interval is annual and the resulting annuity payment is less than exceeding the minimum annuity payment amount shown on the Contract Specifications.