Period Certain Annuity Sample Clauses

Period Certain Annuity. The term "Period Certain Annuity" means an annuity not involving life contingencies issued by us or one of our affiliated or subsidiary live insurance companies which does not permit any prepayment of the unpaid principal (that is, you cannot elect to receive part of your payments as a single sum payment with the remainder paid in monthly annuity payments).
Sample 1See All (7)
AutoNDA by SimpleDocs
Period Certain Annuity. Beginning on the Annuity Date, we will make Annuity Payments for a guaranteed period (Period Certain). Annuity Payments cease at the end of the Period Certain elected which must be at least ten (10) years and cannot be more than thirty (30) years. If the last Annuitant dies before the end of the Period Certain, Annuity Payments will continue to be paid at the same frequency then in effect until the end of the Period Certain. The Beneficiary(ies) may instead elect to receive the present value of the remaining Period Certain Annuity Payments in a lump sum.
Sample 1Sample 2
Period Certain Annuity. Beginning on the Annuity Date, we will make Annuity Payments for a guaranteed period (Period Certain). Annuity Payments cease at the end of the Period Certain elected which must be at least ten (10) years and cannot be more than thirty (30) years. If the last Annuitant dies before the end of the Period Certain, Annuity Payments will continue to be paid at the same frequency then in effect until the end of the Period Certain. The Beneficiary(ies) may instead elect to receive the present value of the remaining Period Certain Annuity Payments in a lump sum. ● THIS CONTRACT IS NON-PARTICIPATING. IT DOES NOT PROVIDE FOR THE PAYMENT OF DIVIDENDS. ● THIS CONTRACT PROVIDES WAIVER OF CONTINGENT DEFERRED SALES CHARGE BENEFITS, IF APPLICABLE. ● CONTRACT VALUES, WITHDRAWAL VALUES AND THE DEATH BENEFIT PROVIDED BY THIS CONTRACT WITH RESPECT TO AMOUNTS ALLOCATED TO THE SEPARATE ACCOUNT ARE BASED ON THE INVESTMENT EXPERIENCE OF THE SEPARATE ACCOUNT, ARE VARIABLE AND ARE NOT GUARANTEED AS TO DOLLAR AMOUNT. Contract Number: [ ] Latest Permitted Annuity Date: [09/01/2081] Issue Date: [09/01/2021] Contract Schedule Date: [09/01/2021] [Eligibility Date for Waiver of CDSC Under Nursing Home and Hospital Withdrawal Benefit Rider and Terminal Illness Withdrawal Benefit Rider: [09/01/2022]] Product Version: [MassMutual Envision] Owner: [ ] Age and Sex: [35, Female] Joint Owner: [ ] Age and Sex: [35, Female] Annuitant: [ ] Age and Sex: [35, Female] Joint Annuitant: [ ] Age and Sex: [ ] Initial Purchase Payment Received: [$XXXXX ] The minimum Initial Purchase Payment received must be at least [$5,000 for qualified contracts and $10,000 for non-qualified contracts]. The amount shown as the Initial Purchase Payment is as of the Issue Date.
Sample 1Sample 2
Period Certain Annuity. Prudential will make monthly Annuity Payments to the Annuitant equal to the Annuity Amount. Prudential will make the first monthly payment on the Annuity Start Date. Prudential will pay subsequent payments on the first day of each month. The total number of payments Prudential will make is the Guaranteed Number of Payments. Once such Guaranteed Number of Payments has been paid, no further payments are due. After the death of the Annuitant, Prudential will compare the total number of payments made to the Annuitant on and after the Annuity Start Date to the Guaranteed Number of Payments. If the number of payments made is less than the Guaranteed Number of Payments, Prudential will pay the lump sum (full value) of the remaining Guaranteed Number of Payments in accordance with the priority order of the second paragraph of Section 2.6.
Sample 1Sample 2
Period Certain Annuity. An annuity payable for a Period Certain of from 5 to 20 years, as elected. If the Annuitant dies before payments have been made for the Period Certain elected, payments will continue to the beneficiary during the remainder of such Period Certain. The beneficiary may elect to receive the commuted value of the remaining guaranteed payments in a lump sum. The value will be based on the then current dollar amount of one payment and the same interest rate which served as a basis for the annuity. Payments under any of these Annuity Payment Options will be determined in accordance with Section 7.07 for a Fixed Annuity and with Section 7.08 for a Variable Annuity. If, when Annuity Payments are elected, Minnesota Mutual is using annuity purchase rates for this class of contract which would result in larger Annuity Payments, they will be used instead of those guaranteed in this contract. Minnesota Mutual reserves the right to require proof satisfactory to it of the age of a Annuitant and any joint annuitant prior to making the first payment under any Annuity Payment Option. Once Annuity Payments begin, the Annuity Payment Option may not be changed.
Sample 1Sample 2
Period Certain Annuity. An Xxxxxxx xxxx x specified number of Guaranteed Payments without a life contingency.
Sample 1
Period Certain Annuity. The term "
Sample 1
AutoNDA by SimpleDocs
Period Certain Annuity. An Annuity with a specified number of Guaranteed Payments without a life contingency.
Sample 1
Period Certain Annuity. Available with a Fixed Annuity Payment only, this option provides Annuity Payments that are made to the Payee for a designated period, which may be from 10 to 30 years. Annuity Payments are guaranteed for the Period Certain elected. If the Annuitant should die within the guaranteed period, the payments would continue for the remainder of that period to the Beneficiary. If the Annuitant dies after the guarantee period, there are no payments to the Beneficiary. Other Annuity Payment Options may be available upon request. Adjusted Annuitant Age - Annuity Payments under Options 1, 2, and 3 are based on the Adjusted Age of the Annuitant. The Adjusted Age is the Annuitant's actual age on the Annuitant's nearest birthday, at the Income Date, adjusted as follows: Income Date Adjusted Age ----------- ------------ Before 2010 Actual Age 2010-2019 Actual Age minus 1 2020-2026 Actual Age minus 2 2027-2033 Actual Age minus 3 2034-2040 Actual Age minus 4 After 2040 Determined by the Company Fixed Annuity Payment Option - This option provides a fixed payment that does not change over the time period selected. Once this option is selected, the Accumulated Value of the Contract is transferred from the Separate Account to the Company's General Account to fund all future payments. No further Transfers are possible. Determination of a Fixed Payment - The amount of the Fixed Annuity Payment will depend on the Accumulated Value of the Contract and the Annuity Payment Option selected. If a life income option is selected, the amount will also depend on the age and gender of the Annuitant and Joint Annuitant, if applicable. The amounts shown on the Annuity Tables (in Section VII) represent only the guaranteed minimum for each Annuity Payment, based on an interest rate of 3.25%. The minimum payment amount is $100 (or $20 for residents of SC, TX and MA). The number of payments per year may be adjusted to maintain this minimum amount. Variable Annuity Payment Option - This option provides a variable payment that fluctuates with the investment performance of the Subaccounts chosen by the Owner over the period selected. Determination of the First Variable Payment - The Annuity Tables for this option illustrate the minimum amount of a monthly Variable Annuity Payment for each $1,000 of Accumulated Value. The Tables are based on the AIR of 4%. If the investment performance of the selected Subaccounts exceeds 4% (on an annualized basis) in any period, the Annuity Payment amount will incre...
Sample 1

Related to Period Certain Annuity

  • Fixed Annuity 10 1.16 Fund(s) ........................................................... 10 1.17

  • Annuity 24.1 If the policy schedule states that the insured amount is a surviving dependant's annuity within the meaning of Section 3.125(1)(b) of the Income Tax Act 2001, this article shall apply. a. The entitlement to an annuity payment cannot be surrendered, disposed of, divulged or used as security and, in general, no legal action can be taken with regard to this insurance that may lead the tax authorities to take back the premium deduction they received for this insurance in the past. b. The insurer shall be held liable by law for the payment of the wage and income tax and revision interest owed by the policyholder or the person entitled to an annuity as soon as a circumstance referred to under point a arises. c. The insurer will then be entitled to set off the amount of the maximum wage and income tax and revision interest due against the value of the insured annuity(s), irrespective of whether these are paid out or not.

  • Life Annuity In addition to the rules imposed by the Act, a life annuity purchased with the property of the Plan must comply with Pension Legislation and must be established for the Annuitant’s life. However, if the Annuitant has a Spouse on the date payments under the life annuity begin, the life annuity must be established for the lives jointly of the Annuitant and the Annuitant’s Spouse, unless the Spouse has provided a waiver in the form and manner required by Pension Legislation. Where the surviving Spouse is entitled to payments under the life annuity after the Annuitant’s death, those payments must be at least 60 percent of the amount to which the Annuitant was entitled prior to the Annuitant’s death. The life annuity may not differentiate based on gender except to the extent permitted by Pension Legislation.

  • Special Enrollment a. KFHPWA will allow special enrollment for persons: 1) Who initially declined enrollment when otherwise eligible because such persons had other health care coverage and have had such other coverage terminated due to one of the following events: • Cessation of employer contributions. • Exhaustion of COBRA continuation coverage. • Loss of eligibility, except for loss of eligibility for cause. 2) Who initially declined enrollment when otherwise eligible because such persons had other health care coverage and who have had such other coverage exhausted because such person reached a lifetime maximum limit. KFHPWA or the Group may require confirmation that when initially offered coverage such persons submitted a written statement declining because of other coverage. Application for coverage must be made within 31 days of the termination of previous coverage. b. KFHPWA will allow special enrollment for individuals who are eligible to be a Subscriber and their Dependents (other than for nonpayment or fraud) in the event one of the following occurs: 1) Divorce or Legal Separation. Application for coverage must be made within 60 days of the divorce/separation. 2) Cessation of Dependent status (reaches maximum age). Application for coverage must be made within 30 days of the cessation of Dependent status. 3) Death of an employee under whose coverage they were a Dependent. Application for coverage must be made within 30 days of the death of an employee. 4) Termination or reduction in the number of hours worked. Application for coverage must be made within 30 days of the termination or reduction in number of hours worked. 5) Leaving the service area of a former plan. Application for coverage must be made within 30 days of leaving the service area of a former plan. 6) Discontinuation of a former plan. Application for coverage must be made within 30 days of the discontinuation of a former plan. c. KFHPWA will allow special enrollment for individuals who are eligible to be a Subscriber and their Dependents in the event one of the following occurs: 1) Marriage. Application for coverage must be made within 31 days of the date of marriage. 2) Birth. Application for coverage for the Subscriber and Dependents other than the newborn child must be made within 60 days of the date of birth. 3) Adoption or placement for adoption. Application for coverage for the Subscriber and Dependents other than the adopted child must be made within 60 days of the adoption or placement for adoption. 4) Eligibility for premium assistance from Medicaid or a state Children’s Health Insurance Program (CHIP), provided such person is otherwise eligible for coverage under this EOC. The request for special enrollment must be made within 60 days of eligibility for such premium assistance. 5) Coverage under a Medicaid or CHIP plan is terminated as a result of loss of eligibility for such coverage. Application for coverage must be made within 60 days of the date of termination under Medicaid or CHIP. 6) Applicable federal or state law or regulation otherwise provides for special enrollment.

  • Tax Sheltered Annuity Voluntary adjunct employee salary reductions for Internal Revenue Code Section 403(b) tax-sheltered annuities and 457(b) deferred compensation shall be available to adjunct employees covered by this Agreement. Contracts shall be arranged individually through the Office of the Executive Vice President for Finance and Administrative Services or designee subject to regulation by the College.

  • TAX LIMITATION ELIGIBILITY In order to be eligible and entitled to receive the value limitation identified in Section 2.4 for the Qualified Property identified in Article III, the Applicant shall: A. have completed the Applicant’s Qualified Investment in the amount of Ten Million Dollars ($10,000,000) during the Qualifying Time Period; B. have created and maintained, subject to the provisions of Section 313.0276 of the TEXAS TAX CODE, New Qualifying Jobs as required by the Act; and C. pay an average weekly wage of at least $678.25 for all New Non-Qualifying Jobs created by the Applicant.

  • Qualified Joint and Survivor Annuity Unless an optional form of benefit is selected pursuant to a qualified election within the 90-day period ending on the annuity starting date, a married Participant's Vested account balance will be paid in the form of a qualified joint and survivor annuity and an unmarried Participant's Vested account balance will be paid in the form of a life annuity. The Participant may elect to have such annuity distributed upon attainment of the earliest retirement age under the Plan.

  • Salary Rate Upon Employment The hiring rate of pay for a new employee shall not be higher than the rate of pay for an existing employee in the same classification with similar work experience, training and education.

  • Tax Sheltered Annuities The SPS shall continue to comply with the law(s) regarding Tax Sheltered Annuities.

  • Continuity of Service It shall be the right of all Subscribers to continue receiving Cable Service insofar as their financial and other obligations to the Grantee are honored, and subject to Xxxxxxx’s rights under Section 15.2 of this Franchise.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!