Common use of Shortened Life Expectancy Withdrawal Clause in Contracts

Shortened Life Expectancy Withdrawal. The Annuitant may withdraw all or part of the money in the Fund as a lump-sum or series of payments, in accordance with section 9 of the Directive, if the following conditions are met: i) if a medical practitioner certifies that due to mental or physical disability the life expectancy of the Annuitant is likely to be shortened considerably; and ii) if the Annuitant is a former member of a pension plan such payment may only be made if the Spouse of the Annuitant has waived the joint and survivor pension entitlement in the form and manner required by the Superintendent.

Shortened Life Expectancy Withdrawal. The Annuitant may withdraw all or part of the money in the Fund as a lump-sum or series of payments, in accordance with section 9 of the Directive, if the following conditions are met: i) if a medical practitioner certifies that due to mental or physical disability the life expectancy of the Annuitant is likely to be shortened considerably; and ii) if the Annuitant is a former member of a pension plan plan, such payment may only be made if the Spouse of the Annuitant has waived the joint and survivor pension entitlement in the form and manner required by the Superintendent.

Shortened Life Expectancy Withdrawal. The Annuitant may withdraw all or part of the money in the Fund Account as a lump-sum or series of payments, in accordance with section 9 3 of the Directive, if the following conditions are met: i) if a medical practitioner certifies that due to mental or physical disability the life expectancy of the Annuitant is likely to be shortened considerably; and ii) if the Annuitant is a former member of a pension plan such payment may only be made if the Spouse of the Annuitant has waived the joint and survivor pension entitlement in the form and manner required by the Superintendent.