Common use of PREMIUM PAYMENTS AND ALLOCATION Clause in Contracts

PREMIUM PAYMENTS AND ALLOCATION. PREMIUM PAYMENTS The initial premium payment is due on the Contract Date and may not be less than $20,000 for non-tax qualified plans and tax qualified plans. Thereafter, subsequent premium payments may be made as described below. All premium payments are payable at Our annuity operations division, except that the initial premium payment may be given to an authorized agent for forwarding to Our annuity operations division. No benefit associated with any such premium payment will be provided until the premium payment is actually received by Us at Our annuity operations division. You may vary the amount and interval for subsequent premium payments. Subsequent premium payments may be made within the following limits: 1. Each subsequent premium payment must at least equal $1,000. 2. No more than $1,000,000 in total premium payments may be paid on this contract, unless We agree otherwise. 3. The premium payment intervals may be unscheduled or changed to monthly, quarterly, semi-annual, annual, or any other arrangement agreed to by Us. 4. Subsequent premium payments may only be made prior to the Maturity Date. We reserve the right to waive the limits in 1 and 2 above.

Appears in 2 contracts

Samples: Annuity Contract (PHL Variable Accumulation Account), Annuity Contract (Phoenix Life Variable Accumulation Account)

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PREMIUM PAYMENTS AND ALLOCATION. PREMIUM PAYMENTS The initial premium payment is due on the Contract Date and may not be less than $20,000 5,000 for non-tax qualified plans and tax or $2,000 for qualified plans. Thereafter, subsequent premium payments may be made as described below. All premium payments are payable at Our annuity operations division, except that the initial premium payment may be given to an authorized agent for forwarding to Our annuity operations division. No benefit associated with any such premium payment will be provided until the premium payment is actually received by Us at Our annuity operations division. You may vary the amount and interval for subsequent premium payments. Subsequent premium payments may be made within the following limits: 1. Each subsequent premium payment must at least equal $1,000100. 2. No more than $1,000,000 in total premium payments may be paid on this contract, unless We agree otherwise. 3. The premium payment intervals may be unscheduled or changed to monthly, quarterly, semi-annual, annual, or any other arrangement agreed to by Us. 4. Subsequent premium payments may only be made prior to the Maturity Date. We reserve the right to waive the limits in 1 and 2 above.

Appears in 1 contract

Samples: Annuity Contract (PHL Variable Accumulation Account)

PREMIUM PAYMENTS AND ALLOCATION. PREMIUM PAYMENTS The initial premium payment is due on the Contract Date and may not be less than $20,000 5,000 for non-tax qualified plans and tax or $2,000 for qualified plans. Thereafter, subsequent premium payments may be made as described below. All premium payments are payable at Our annuity operations division, except that the initial premium payment may be given to an authorized agent for forwarding to Our annuity operations division. No benefit associated with any such premium payment will be provided until the premium payment is actually received by Us at Our annuity operations division. You may vary the amount and interval for subsequent premium payments. Subsequent premium payments may be made within the following limits: 1. Each subsequent premium payment must at least equal $1,000100. 2. No more than $1,000,000 in total premium payments may be paid on this contract, unless We agree otherwise. 3. The premium payment intervals may be unscheduled or changed to monthly, quarterly, semi-annual, annual, or any other arrangement agreed to by Us. 4. Subsequent premium payments may only be made prior to the Maturity Date. We reserve the right to waive the limits in 1 and 2 above.. D612 5

Appears in 1 contract

Samples: Annuity Contract (Phoenix Home Life Variable Accumulation Account)

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PREMIUM PAYMENTS AND ALLOCATION. PREMIUM PAYMENTS The initial premium payment is due on the Contract Date and may not be less than $20,000 10,000 for non-tax qualified plans and tax or $2,000 for qualified plans. Thereafter, subsequent premium payments may be made as described below. All premium payments are payable at Our annuity operations division, except that the initial premium payment may be given to an authorized agent for forwarding to Our annuity operations division. No benefit associated with any such premium payment will be provided until the premium payment is actually received by Us at Our annuity operations division. You may vary the amount and interval for subsequent premium payments. Subsequent premium payments may be made within the following limits: 1. Each subsequent premium payment must at least equal $1,000500. 2. No more than $1,000,000 in total premium payments may be paid on this contract, unless We agree otherwise. 3. The premium payment intervals may be unscheduled or changed to monthly, quarterly, semi-annual, annual, or any other arrangement agreed to by Us. 4. Subsequent premium payments may only be made prior to the Maturity Date. We reserve the right to waive the limits in 1 and 2 above.

Appears in 1 contract

Samples: Annuity Contract (PHL Variable Accumulation Account)

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