Participating Contract. The contract may participate in our divisible surplus. Divisible surplus, if any, to be apportioned to the contract shall be apportioned annually and shall be paid in cash or credited to your Contract Value at the end of the contract year. No divisible surplus is expected to be apportioned to this contract in the foreseeable future.
Appears in 1 contract
Samples: Individual Variable Annuity Contract (Penn Mutual Variable Annuity Account Iii)
Participating Contract. The This contract may participate in our divisible surplus. Divisible surplus, if any, to be apportioned to the this contract shall be apportioned annually and shall will be allocated by us equitably among all Participants. Divisible surplus so allocated will be credited as Purchase Payments to the Participants' Variable and Fixed Accounts, unless the Participant elects to have it paid in cash or credited to your Contract Value at the end of the contract yearcash. No divisible surplus is expected to be apportioned to this contract in the foreseeable future.
Appears in 1 contract
Samples: Group Variable and Fixed Annuity Contract (Penn Mutual Variable Annuity Account Iii)
Participating Contract. The This contract may participate in our divisible surplus. Divisible surplus, if any, to be apportioned to the this contract shall be apportioned annually and shall will be allocated by us equitably among all Participants. Divisible surplus so allocated will be credited as Purchase Payments to the Participants' Variable and Fixed Accounts, unless the Owner elects to have it paid in cash or credited to your Contract Value at the end of the contract yearcash. No divisible surplus is expected to be apportioned to this contract in the foreseeable future.
Appears in 1 contract
Samples: Group Variable and Fixed Annuity Contract (Penn Mutual Variable Annuity Account Iii)
Participating Contract. The contract may participate in our divisible surplus. Divisible surplus, if any, to be apportioned to the contract shall be apportioned annually and shall be paid in cash or credited applied to your Contract Value at provide additional accumulation units or annuity units under the end of the contract yearcontract. No divisible surplus is expected to be apportioned to this contract in the foreseeable future. Divisible surplus apportioned to this contract, if any, will be applied to provide additional accumulation units or annuity units unless you elect to have it paid in cash.
Appears in 1 contract
Samples: Individual Variable Annuity Contract (Penn Mutual Variable Annuity Account Iii)