Common use of Purpose of the Fund Clause in Contracts

Purpose of the Fund. Except as permitted by the Act and the Regulation, all money that is the subject of the Transfer, including all investment earnings thereon and gains realized thereof, but excluding all fees, charges, expenses and taxes charged to this Fund, shall be used to pay the Annuitant an income, the amount of which may vary annually, until the day on which the entire balance of the money in the Fund is converted into a Life Annuity. No money that is not locked-in may be transferred or otherwise held under this Fund.

Purpose of the Fund. Except as permitted by the Act and the Regulationlaw, all money that is the subject of the Transfer, including all investment earnings thereon and gains realized thereof, but excluding all fees, charges, expenses and taxes charged to this Fund, shall be used to pay the Annuitant an income, the amount of which may vary annually, until the day on which the entire balance of the money in the Fund is converted into a Life Annuity. No money that is not locked-in may be transferred or otherwise held under this Fund.

Purpose of the Fund. Except as permitted by the Act and the RegulationRegulations, all money that is the subject of the Transfer, including all investment earnings thereon and gains realized thereof, but excluding all fees, charges, expenses and taxes charged to this Fund, shall be used to pay provide the Annuitant an income, the amount of which may vary annually, until the day on which the entire balance of the money in the Fund is converted into a Life Annuitywith periodic payments. No money that is not locked-in may be transferred or otherwise held under this Fund.

Purpose of the Fund. Except as permitted by the Act and the RegulationRegulations, all money that is the subject of the Transfer, including all investment earnings thereon earnings, realized gains and gains realized thereofinterest, but excluding all fees, charges, expenses and taxes charged to this the Fund, shall be used to pay provide the Annuitant an income, the amount of which may vary annually, until the day on which the entire balance of the money in the Fund is converted into a Life Annuitywith periodic payments. No money that is not locked-in may be transferred or otherwise held under this Fund.