Common use of Non-Participation Clause in Contracts

Non-Participation. This contract does not share in Our surplus earnings. That portion of the Separate Account assets equal to the reserves and other contract liabilities will not be chargeable with liabilities arising out of any other business We may conduct. Misstatement of Age and Gender If the age or gender of the Annuitant has been misstated, the amount of the annuity payable by Us will be adjusted based on the correct information without changing the date of the first payment. Any underpayments by Us will be made up immediately and any overpayments will be charged against future amounts becoming payable. If the age of the Annuitant or Contract Owner has been misstated, the amount of any Death Benefit payable will be determined based upon the correct age of the Annuitant or Contract Owner.

Appears in 7 contracts

Samples: Annuity Contract (Talcott Resolution Life & Annuity Insurance Co Separate Account One), Annuity Contract (Talcott Resolution Life & Annuity Insur Co Separate Account Three), Annuity Contract (Talcott Resolution Life & Annuity Insurance Co Separate Account Seven)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.