Common use of Misstatements Clause in Contracts

Misstatements. If any relevant fact relating to any person is found to have been misstated, the following will apply: (a) The amount of annuity payable by Prudential will be that which would be provided by the amount allocated to purchase the annuity on the basis of the correct information, without changing the date of first payment of the annuity. Any adjustment by Prudential of the amount or terms of payment made in accordance with this section will be conclusive upon any other person affected by it. (b) The amount of any underpayment by Prudential will be paid in full with the next payment due. The amount of any overpayment by Prudential will be deducted to the extent possible from amounts payable thereafter.

Appears in 19 contracts

Samples: Group Annuity Contract (Prudential Variable Contract Account 11), Group Annuity Contract (Prudential Variable Contract Account 10), Group Annuity Contract (Prudential Variable Contract Account 10)

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Misstatements. If any relevant fact relating to any person is found to have been misstated, the following will apply: (a) The amount of annuity payable by Prudential will be that which would be provided by the amount allocated to purchase the effect such annuity on the basis of the correct information, without changing the date of first payment of the annuity. Any adjustment by Prudential of the amount or terms of payment made in accordance with this section will be conclusive upon any other person affected by it. (b) The amount of any underpayment by Prudential will be paid in full with the next payment due. The amount of any overpayment by Prudential will be deducted to the extent possible from amounts payable thereafter.

Appears in 10 contracts

Samples: Group Annuity Contract (Prudential Variable Contract Account 10), Group Annuity Contract (Prudential Variable Contract Account 24), Group Annuity Contract (Prudential Variable Contract Account 11)

Misstatements. If any other relevant fact relating to any person is found to have been misstated, the following will apply: (a) The amount of annuity payable by Prudential will be that which would be provided by the amount allocated to purchase the annuity on the basis of the correct information, without changing the date of first payment of the annuity. Any adjustment by Prudential of the amount or terms of payment made in accordance with this section will be conclusive upon any other person affected by it. (b) The amount of any underpayment by Prudential will be paid in full with the next payment due. The amount of any overpayment by Prudential will be deducted to the extent possible from amounts payable thereafter.

Appears in 6 contracts

Samples: Group Annuity Contract (Prudential Variable Contract Account 10), Group Annuity Contract (Prudential Variable Contract Account 10), Group Annuity Contract (Prudential Variable Contract Account 10)

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Misstatements. If the age, sex, or any other relevant fact relating to any person is found to have been misstated, the following will apply: (a) The amount of annuity payable by Prudential will be that which would be provided by the amount allocated to purchase the annuity on the basis of the correct information, without changing the date of first payment of the annuity. Any adjustment by Prudential of the amount or terms of payment made in accordance with this section will be conclusive upon any other person affected by it. (b) The amount of any underpayment by Prudential will be paid in full with the next payment due. The amount of any overpayment by Prudential will be deducted to the extent possible from amounts payable thereafter.

Appears in 4 contracts

Samples: Group Annuity Contract (Prudential Variable Contract Account 10), Group Annuity Contract (Prudential Variable Contract Account 10), Group Annuity Contract (Prudential Variable Contract Account 11)

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