PAYMENT PLAN RATES Sample Clauses
PAYMENT PLAN RATES. PAYMENT RATE TABLES. The guaranteed monthly payment rates for both a fixed payment plan and the first payment under a variable payment plan are shown in the Payment Rate Tables. The tables show rates for the Installment Income Plan for a Specified Period (Option B) and Life Income Plans (Options C and E). Life Income Plan (Option C or E) rates are based on the sex and adjusted age of any individual upon whose life payments depend. The adjusted age is: o the age on the birthday that is nearest to the date on which the payment plan takes effect; plus o the age adjustment shown below for the number of Contract Years that have elapsed from the Issue Date to the date that the payment plan takes effect. A part of a Contract Year is counted as a full year. CONTRACT YEARS AGE CONTRACT YEARS ELAPSED ADJUSTMENT ELAPSED AGE ADJUSTMENT 1 to 8 0 33 to 40 -4 9 to 16 -1 41 to 48 -5 17 to 24 -2 49 or more -6 25 to 32 -3 CURRENT FIXED PAYMENT PLAN RATES o INSTALLMENT INCOME FOR SPECIFIED PERIOD (OPTION B). The Company may offer fixed payment plan rates higher than those guaranteed in this contract with conditions on withdrawal. o LIFE INCOME PLANS (OPTION C OR E). Payments will be based on rates declared by the Company that will not be less than the rates guaranteed in this contract. The declared rates will provide at least as much income as would the Company's rates, on the date that the payment plan takes effect, for a single premium immediate annuity contract. ALTERNATE VARIABLE RATE BASIS. The Company may from time to time publish higher initial rates for variable payment plans under this contract. These higher rates will not be available to increase payments under payment plans already in effect. When a variable payment plan is effective on an alternate rate basis, the Daily Adjustment Factor described in Section 11.3 will be determined based on the Assumed Investment Rate used in calculating the alternate payment rate. PAYMENT RATE TABLES MONTHLY INCOME PAYMENTS PER $1,000 BENEFITS FIRST PAYMENT UNDER VARIABLE PAYMENT PLAN INSTALLMENT INCOME PLANS (OPTION B) ------------------- ----------------- ----------------- ----------------- ----------------- ----------------- PERIOD MONTHLY PERIOD MONTHLY PERIOD MONTHLY (YEARS) PAYMENT (YEARS) PAYMENT (YEARS) PAYMENT ------------------- ----------------- ----------------- ----------------- ----------------- ----------------- Years 1-4 11 $ 9.09 21 $ 5.56 Not Available 12 8.46 22 5.39 13 7.94 23 5.24 14 7.49 24 5.09 5 18.12 15 ...
PAYMENT PLAN RATES. Interest Income And Installment Income Plans. Proceeds will earn interest at rates declared each year by the Company. None of these rates will be less than an annual effective rate of 2%. Interest of more than 2% will increase the amount of the payments or, for the Specified Amount Plan (Option D), increase the number of payments. The present value of any unpaid installments will be based on the 2% rate of interest. The Company may offer guaranteed rates of interest higher than 2% with conditions on withdrawal. Life Income Plans. Payments will be based on rates declared by the Company. These rates will provide at least as much income as would the Company's rates, on the date that the payment plan takes effect, for a single premium immediate annuity contract. Payments under these rates will not be less than the amounts that are described in Minimum Payment Rates.
PAYMENT PLAN RATES. Payment Rate Tables. The guaranteed monthly payment rates for both a fixed payment plan and the first payment under a variable payment plan are shown in the Payment Rate Tables. The tables show rates for the Installment Income Plan for a Specified Period (Option B) and Life Income Plans (Options C and E). Life Income Plan (Option C or E) rates are based on the sex and adjusted age of any individual upon whose life payments depend. The adjusted age is: • the age on the birthday that is nearest to the date on which the payment plan takes effect; plus • the age adjustment shown below for the number of Contract Years that have elapsed from the Issue Date to the date that the payment plan takes effect. A part of a Contract Year is counted as a full year. • Installment Income for Specified Period (Option B). The Company may offer fixed payment plan rates higher than those guaranteed in this Contract with conditions on withdrawal. • Life Income Plans (Option C or E). Payments will be based on rates declared by the Company that will not be less than the rates guaranteed in this Contract. The declared rates will provide at least as much income as would the Company’s rates, on the date that the payment plan takes effect, for a single premium immediate annuity contract.
PAYMENT PLAN RATES. PAYMENT RATE TABLES. The guaranteed monthly payment rates for both a fixed payment plan and the first payment under a variable payment plan are shown in the Payment Rate Tables. The tables show rates for the Installment Income Plan for a Specified Period (Option B) and Life Income Plans (Options C and E). Life Income Plan (Option C or E) rates are based on the sex and adjusted age of any individual upon whose life payments depend. The adjusted age is: - the age on the birthday that is nearest to the date on which the payment plan takes effect; plus - the age adjustment shown below for the number of Contract Years that have elapsed from the Issue Date to the date that the payment plan takes effect. A part of a Contract Year is counted as a full year.
PAYMENT PLAN RATES. Payment Rate Tables. The guaranteed monthly payment rates for both a fixed payment plan and the first payment under a variable payment plan are shown in the Payment Rate Tables. The tables show rates for the Installment Income Plan for a Specified Period (Option B) and Life Income Plans (Options C and E). Life Income Plan (Option C or E) rates are based on the sex and adjusted age of any individual upon whose life payments depend. The adjusted age is: • the age on the birthday that is nearest to the date on which the payment plan takes effect; plus • the age adjustment shown below for the number of Contract Years that have elapsed from the Issue Date to the date that the payment plan takes effect. A part of a Contract Year is counted as a full year. 1 to 8 0 9 to 16 -1 17 to 24 -2 25 to 32 -3 33 to 40 -4 41 to 48 -5 49 or more -6 • Installment Income for Specified Period (Option B). The Company may offer fixed payment plan rates higher than those guaranteed in this contract with conditions on withdrawal.
PAYMENT PLAN RATES