MISSTATEMENT OF AGE AND/OR SEX. If the age and/or sex of the Annuitant has been misstated, the amount payable under the Contract will be adjusted to be the amount of income which the actual premium paid would have purchased for the correct age and/or sex according to LNY's rates in effect on the Contract Date. Any overpayment by LNY, with interest at the rate of 6% per year, compounded annually, will be charged against the payments to be made next succeeding the adjustment. Any underpayment by LNY will be paid in a lump sum, with interest at the rate of 6% per year, compounded annually.
Appears in 21 contracts
Samples: Annuity Contract (Lincoln New York Account N for Variable Annuities), Annuity Contract (Lincoln Life & Annuity Variable Annuity Account H), Annuity Contract (Lincoln Life & Annuity Variable Annuity Account H)
MISSTATEMENT OF AGE AND/OR SEX. If the age and/or sex of the Annuitant has been misstated, the amount payable under the Contract will be adjusted to be the amount of income which the actual premium paid would have purchased for the correct age and/or sex according to LNY's rates in effect on the Contract Date. Any overpayment by LNY, with interest at the rate of rateof 6% per year, compounded annually, will be charged against the payments to be made next succeeding the adjustment. Any underpayment by LNY will be paid in a lump sum, with interest at the rate of rateof 6% per year, compounded annually.
Appears in 3 contracts
Samples: Annuity Contract (Lincoln New York Account N for Variable Annuities), Annuity Contract (Lincoln Life & Annuity Variable Annuity Account H), Annuity Contract (Lincoln Life & Annuity Variable Annuity Account H)
MISSTATEMENT OF AGE AND/OR SEX. If the age and/or sex of the Annuitant has been misstated, the amount payable under the Contract will be adjusted to be the amount of income which the actual premium paid would have HAVE purchased for the correct age and/or sex according to LNY's rates in effect on the Contract Date. Any overpayment by LNY, with interest at the rate of rateof 6% per year, compounded annually, will be charged against the payments to be made next succeeding the adjustment. Any underpayment by LNY will be paid in a lump sum, with interest at the rate of 6% per year, compounded annually.
Appears in 1 contract
Samples: Annuity Contract (Lincoln New York Account N for Variable Annuities)
MISSTATEMENT OF AGE AND/OR SEX. If the age and/or sex of the an Annuitant has been is misstated, the amount payable benefits available under the Contract contract will be adjusted to be the amount of income those which the actual premium paid Purchase Payments would have purchased for the correct age and/or sex according to LNYthe Company's rates in effect on the Contract Datedate of issue. Any overpayment by LNYthe Company, with interest at the rate of 6% per year, compounded annually, will be charged against the payments to be made next succeeding the adjustment. Any underpayment by LNY the Company will be paid in a lump sum, with interest at the rate of 6% per year, compounded annually.
Appears in 1 contract
Samples: Annuity Contract (Lincoln Life & Annuity Variable Annuity Account H)
MISSTATEMENT OF AGE AND/OR SEX. If the age and/or sex of the an Annuitant has been is misstated, the amount payable under the Contract contract will be adjusted to be the amount of income Income which the actual premium paid would have purchased for the correct age and/or sex according to LNYthe Company's rates in effect on the Contract DateDate of Issue. Any overpayment by LNYthe Company, with interest at the rate of 6% per year, compounded annually, will be charged against the payments to be made next succeeding the adjustment. Any underpayment by LNY the Company will be paid in a lump sum, with interest at the rate of 6% per year, compounded annually.
Appears in 1 contract
Samples: Annuity Contract (Lincoln New York Account N for Variable Annuities)
MISSTATEMENT OF AGE AND/OR SEX. If the age and/or sex of the Annuitant has been misstated, the amount payable under the Contract will be adjusted to be the amount of income which the actual premium paid would have purchased for the correct age and/or sex according to LNY's rates in effect on the Contract Date. Any overpayment by LNY, with interest at the rate of 6% per year, compounded annually, will be charged against the payments to be made next succeeding the adjustment. Any underpayment by LNY will be paid in a lump sum, with interest at the rate of rateof 6% per year, compounded annually.
Appears in 1 contract
Samples: Annuity Contract (Lincoln New York Account N for Variable Annuities)