Common use of Payment of Contract Benefits Clause in Contracts

Payment of Contract Benefits. GENERAL Benefits payable under this Contract may be applied in accordance with one or more of the Annuity Options described below, subject to any restrictions of Internal Revenue Code section 72(s). Once annuity payments commence, the Annuity Option may not be changed. ALTERNATE ANNUITY OPTIONS Instead of settlement in accordance with the Annuity Options described below, you may choose an alternate form of settlement acceptable to us. Once annuity payments commence, the form of settlement may not be changed. DESCRIPTION OF ANNUITY OPTIONS Option 1: Life Annuity a) Life Non-Refund. We will make payments during the lifetime of the Annuitant. No payments are due after the death of the Annuitant.

Payment of Contract Benefits. GENERAL Benefits payable under this Contract may be applied in accordance with one or more of the Annuity Options described below, subject to any restrictions of Internal Revenue Code section 72(s). Once annuity payments commence, the Annuity Option may not be changed. ALTERNATE ANNUITY OPTIONS Instead of settlement in accordance with the Annuity Options described below, you may choose an alternate form of settlement acceptable to us. Once annuity payments commence, the form of settlement may not be changed. DESCRIPTION OF ANNUITY OPTIONS Option 1: Life AnnuityAnnuity OPTIONS a) Life Non-Refund. We will make payments during the lifetime of the Annuitant. No payments are due after the death of the Annuitant. b) Life 10-