PAYMENT OF PRESENT VALUE. Following the death of the Payee and any joint Payee under a Fixed Annuity Payout, we may offer the Beneficiary payment of the present value of the unpaid remaining payments if he/she chooses not to continue annuity payouts. If the present value is payable, we calculate it this way:
Appears in 4 contracts
Samples: Separate Account N of Reliastar Life, Separate Account One of Northern Life Insurance Co, Separate Account One of Northern Life Insurance Co
PAYMENT OF PRESENT VALUE. Following the death of the Payee Annuitant and any joint Payee Annuitant under a Fixed Annuity Payout, we may offer the Beneficiary payment of the present value of the unpaid remaining payments if he/she chooses not to continue annuity payouts. If the present value is payable, we calculate it this way:
Appears in 1 contract
Samples: Separate Account N of Reliastar Life
