Temporary Income Payable to an Annuitant Aged Less than 54 Years Sample Clauses

Temporary Income Payable to an Annuitant Aged Less than 54 Years i) The Annuitant may receive, during the course of a Year, if the Annuitant is less than 54 years of age at the end of the Year preceding the Year when the application is made, the balance of the LIF, in whole or in part, in the form of a temporary income payable in monthly installments, none of which may exceed one twelfth of the difference between the following amounts: A. 40% of the M.P.E. determined for the Year during which payment is made; B. 75% of the Annuitant’s income for the 12 following months, excluding the income payable pursuant to this paragraph 2(e).
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