Common use of Selection of Annuity Option Clause in Contracts

Selection of Annuity Option. You may select an Annuity Option, or change your selection by Written Notice received by the Company not later than 30 days before the Annuity Commencement Date. If you have not selected an Annuity Option within 30 days of the Annuity Commencement Date, we will apply your Contract Value to fixed income payments under Option B—Life Income with Payments for a 10 Year Certain Period. Annuity Options—You may select from among the following Annuity Options: OPTION A—PAYMENTS FOR A CERTAIN PERIOD: We will make income payments for the period you select from among those available at the time you make your selection. Payments under this Annuity Option do not depend on the life of an Annuitant. Fixed income payments under Option A may not be surrendered, but you may surrender variable income payments under Option A. OPTION B—LIFE INCOME WITH OR WITHOUT A CERTAIN PERIOD: Payments are based on the life of an Annuitant. We reserve the right to demand proof that the Annuitant(s) is living prior to making any income payment. If you include a certain period, we will make payments for the lifetime of the Annuitant, with payments guaranteed for the certain period you select. Payments stop at the end of the selected certain period or when the Annuitant(s) dies, whichever is later. If no certain period is selected, payments will stop upon the death of the Annuitant(s) no matter how few or how many payments have been made. Neither fixed nor variable income payments under Option B may be surrendered.

Selection of Annuity Option. You may select an Annuity Option, or change your selection by Written Notice received by the Company not later than 30 days before the Annuity Commencement Date. If you have not selected an Annuity Option within 30 days of the Annuity Commencement Date, we will apply your Contract Value to fixed income payments under Option B—Life Income with Payments for a 10 Year Certain Period. Annuity Options—You may select from among the following Annuity Options: OPTION A—PAYMENTS FOR A CERTAIN PERIOD: We Payments will make income payments be made for the period you select from among those available at the time you make your selectionselect. No certain period may be longer than 30 years. Payments under this Annuity Option do not depend on the life of an Annuitant. Fixed income payments under Option A may not be surrendered, but you may fully surrender variable income payments under Option A. OPTION B—LIFE INCOME WITH OR WITHOUT A CERTAIN PERIOD: Payments are based on the life of an Annuitant. We reserve the right to demand proof that the Annuitant(s) is living prior to making any income payment. If you elect to include a certain period, we payments will make payments be made for the lifetime of the Annuitant, with payments guaranteed for the certain period you select. No certain period may be longer than 30 years. Payments stop at the end of the selected certain period or when the Annuitant(s) dies, whichever is later. If no certain period is selected, payments will stop upon the death of the Annuitant(s) no matter how few or how many payments have been made. Neither fixed nor variable income payments under Option B may be surrendered.