Common use of MISSTATEMENT OF AGE AND/OR SEX Clause in Contracts

MISSTATEMENT OF AGE AND/OR SEX. If the age and/or sex of the Annuitant has been misstated, the amount payable under this Contract will be adjusted to the amount of income that would have been purchased for the correct age and/or sex on the Contract Date. Proof of Age may be required at any time. If We made any overpayments because of misstatement, the dollar amount of any overpayment will be deducted from the current or succeeding Annuity Payments due under this Contract. The dollar amount of any underpayment made by Us because of misstatement, will be paid in full with the next payment due under this Contract. Any adjustment for overpayment or underpayment will include interest charged or credited, as applicable, at an interest rate of 1% per year, compounded annually.

MISSTATEMENT OF AGE AND/OR SEX. If the age and/or sex of the Annuitant has been misstated, the amount payable under this Contract will be adjusted to be the amount of income that which the actual Single Purchase Payment paid would have been purchased for the correct age and/or sex on the Contract Date. Proof of Age may be required at any time. If We made any overpayments because of misstatement, the dollar amount of any overpayment will be deducted from the current or succeeding Annuity Payments due under this Contract. The dollar amount of any underpayment made by Us because of misstatement, will be paid in full with the next payment due under this Contract. Any adjustment for overpayment or underpayment will include interest charged or credited, as applicable, at an interest rate of 1% per year, compounded annually.