Common use of PAYMENT PLAN RATES Clause in Contracts

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. Interest Income And Installment Income PlansINTEREST 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 23 1/2%. Interest of more than 23 1/2% 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 23 1/2% rate of interest. The Company may offer guaranteed rates of interest higher than 23 1/2% with conditions on withdrawal. Life Income PlansLIFE 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, with no charge for issue expenses. Payments under these rates will not be less than the amounts that are described in Minimum Payment Rates.