Common use of Terms of Annuity Payout Options Clause in Contracts

Terms of Annuity Payout Options. (a) When payments start, the age of the Annuitant plus the number of years for which payments are guaranteed must not exceed 95. (b) An Annuity Payout Option may not be elected if the first payment would be less than $50 or if the total payments in a year would be less than $250 (less if required by state law). GALIC reserves the right to increase the minimum first Annuity Payment amount and the minimum annual Annuity payment amount based upon increases reflected in the Consumer Price Index-Urban, (CPI-U) since July 1, 1993. (c) If a fixed Annuity Payment is chosen GALIC will use the applicable current rate if it will provide higher fixed Annuity Payments. (d) For purposes of calculating the guaranteed first payment of a variable or fixed Annuity Payment, the primary Annuitant's and secondary Annuitant's adjusted age will be used. The primary Annuitant's and secondary Annuitant's adjusted age is his or her age as of the birthday closest to the Annuity Payment commencement date reduced by one year for commencement dates occurring during the period of time from July 1, 1993 through December 31, 1999. The primary Annuitant's and secondary Annuitant's age will be reduced by two years for commencement dates occurring during the period of time from January 1, 2000 through December 31, 2009. The primary Annuitant's and secondary Annuitant's age will be reduced by one additional year for Annuity commencement dates occurring in each succeeding decade. The attached payment rates for Annuity Payout Options 2 and 3 are based on mortality from 1983 Table a. (e) Assumed Interest Rate (AIR) is the interest rate used to determine the amount of the first Annuity Payment under a variable Annuity Payment as shown on SCHEDULE - ANNUITY PERIOD. The Separate Account must earn this rate plus enough to cover the mortality and expense risks charges (which may include profit) and administrative charges if future variable Annuity Payments are to remain level, (SEE SCHEDULE - ANNUITY PERIOD). (f) Once elected, Annuity Payments cannot be commuted to a lump sum except for variable Annuity Payments under Annuity Payout Option 1.

Terms of Annuity Payout Options. (a) When payments start, the age of the Annuitant plus the number of years for which payments are guaranteed must not exceed 95. (b) An Annuity Payout Option may not be elected if the first payment would be less than $50 or if the total payments in a year would be less than $250 (less if required by state law). GALIC Aetna reserves the right to increase the minimum first Annuity Payment amount and the minimum annual Annuity payment amount based upon increases reflected in the Consumer Price Index-Urban, (CPI-U) since July 1, 1993. (c) If a fixed Annuity Payment is chosen GALIC Aetna will use the applicable current rate if it will provide higher fixed Annuity Payments. (d) For purposes of calculating the guaranteed first payment of a variable or fixed Annuity Payment, the primary Annuitant's and secondary Annuitant's adjusted age will be used. The primary Annuitant's and secondary Annuitant's adjusted age is his or her age as of the birthday closest to the Annuity Payment commencement date reduced by one year for commencement dates occurring during the period of time from July 1, 1993 through December 31, 1999. The primary Annuitant's and secondary Annuitant's age will be reduced by two years for commencement dates occurring during the period of time from January 1, 2000 through December 31, 2009. The primary Annuitant's and secondary Annuitant's age will be reduced by one additional year for Annuity commencement dates occurring in each succeeding decade. The attached payment rates for Annuity Payout Options 2 and 3 are based on mortality from 1983 Table a. (e) Assumed Interest Rate (AIR) is the interest rate used to determine the amount of the first Annuity Payment under a variable Annuity Payment as shown on SCHEDULE Schedule - ANNUITY PERIODAnnuity Period. The Separate Account must earn this rate plus enough to cover the mortality and expense risks charges (which may include profit) and administrative charges if future variable Annuity Payments are to remain level, (SEE SCHEDULE see Schedule - ANNUITY PERIODAnnuity Period). (f) Once elected, Annuity Payments cannot be commuted to a lump sum except for variable Annuity Payments under Annuity Payout Option 1.

Terms of Annuity Payout Options. (a) When payments start, the age of the Annuitant plus the number of years for which payments are guaranteed must not exceed 95. (b) An Annuity Payout Option may not be elected if the first payment would be less than $50 or if the total payments in a year would be less than $250 (less if required by state law). GALIC Aetna reserves the right to increase the minimum first Annuity Payment amount and the minimum annual Annuity payment Payment amount based upon increases reflected in the Consumer Price Index-Urban, (CPI-U) since July 1, 1993. (c) If a fixed Annuity Payment is Payments are chosen GALIC Aetna will use the applicable current rate rate, based upon actual ages if it will provide higher fixed Annuity Payments. (d) For purposes of calculating the guaranteed first payment of a variable or guaranteed fixed Annuity PaymentPayments based on guaranteed rates, the primary Annuitant's and secondary Annuitant's adjusted age will be used. The primary Annuitant's and secondary Annuitant's adjusted age is his or her age as of the birthday closest to the Annuity Payment Payments commencement date reduced by one year for commencement dates occurring during the period of time from July 1, 1993 through December 31, 1999. The primary Annuitant's and secondary Annuitant's age will be reduced by two years for commencement dates occurring during the period of time from January 1, 2000 through December 31, 2009. The primary Annuitant's and secondary Annuitant's age will be reduced by one additional year for Annuity commencement dates occurring in each succeeding decade. The attached payment rates for Annuity Payout Options 2 and 3 are based on mortality from 1983 Table a. (e) Assumed Interest Rate (AIR) is the interest rate used to determine the amount of the first Annuity Payment payment under a variable Annuity Payment Payments as shown on SCHEDULE Schedule - ANNUITY PERIODAnnuity Period. The Separate Account must earn this rate plus enough to cover the mortality and expense risks charges (which may include profit) and ), administrative charges and any other Separate Account fees if future variable Annuity Payments are to remain level, (SEE SCHEDULE see Schedule - ANNUITY PERIODAnnuity Period). (f) Once elected, Annuity Payments cannot be commuted to a lump sum except for variable Annuity Payments under Annuity Payout Option 1. If such a lump sum is requested after the start of payments, it will be treated as a withdrawal and will be subject to any applicable Deferred Sales Charge (see Section I - Deferred Sales Charge).

Terms of Annuity Payout Options. (a) When payments start, the age of the Annuitant plus the number of years for which payments are guaranteed must not exceed 95. (b) An Annuity Payout Option may not be elected if the first payment would be less than $50 or if the total payments in a year would be less than $250 (less if required by state law). GALIC Aetna reserves the right to increase the minimum first Annuity Payment amount and the minimum annual Annuity payment Payment amount based upon increases reflected in the Consumer Price Index-Urban, (CPI-U) since July 1, 1993. (c) If a fixed Annuity Payment is Payments are chosen GALIC Aetna will use the applicable current rate rate, based upon actual ages if it will provide higher fixed Annuity Payments. (d) For purposes of calculating the guaranteed first payment of a variable or guaranteed fixed Annuity PaymentPayments based on guaranteed rates, the primary Annuitant's and secondary Annuitant's adjusted age will be used. The primary Annuitant's and secondary Annuitant's adjusted age is his or her age as of the birthday closest to the Annuity Payment Payments commencement date reduced by one year for commencement dates occurring during the period of time from July 1, 1993 through December 31, 1999. The primary Annuitant's and secondary Annuitant's age will be reduced by two years for commencement dates occurring during the period of time from January 1, 2000 through December 31, 2009. The primary Annuitant's and secondary Annuitant's age will be reduced by one additional year for Annuity commencement dates occurring in each succeeding decade. The attached payment rates for Annuity Payout Options 2 and 3 are based on mortality from 1983 Table a. (e) Assumed Interest Rate (AIR) is the interest rate used to determine the amount of the first Annuity Payment payment under a variable Annuity Payment Payments as shown on SCHEDULE Schedule - ANNUITY PERIODAnnuity Period. The Separate Account must earn this rate plus enough to cover the mortality and expense risks charges (which may include profit) and ), administrative charges and any other Separate Account fees if future variable Annuity Payments are to remain level, level (SEE SCHEDULE see Schedule - ANNUITY PERIODAnnuity Period). (f) Once elected, Annuity Payments cannot be commuted to a lump sum withdrawn except for variable Annuity Payments under Annuity Payout Option 1.

Terms of Annuity Payout Options. (a) When payments start, the age of the Annuitant plus the number of years for which payments are guaranteed must not exceed 95. (b) An Annuity Payout Option may not be elected if the first payment would be less than $50 or if the total payments in a year would be less than $250 (less if required by state law). GALIC reserves the right to increase the minimum first Annuity Payment amount and the minimum annual Annuity payment amount based upon increases reflected in the Consumer Price Index-Urban, (CPI-U) since July 1, 1993. (c) If a fixed Annuity Payment is chosen GALIC will use the applicable current rate if it will provide higher fixed Annuity Payments.xxxxx://xxx.xxx.xxx/Archives/xxxxx/data/836687/000091205701522500/a2051672zex-99... 11/06/2017 (d) For purposes of calculating the guaranteed first payment of a variable or fixed Annuity Payment, the primary Annuitant's and secondary Annuitant's adjusted age will be used. The primary Annuitant's and secondary Annuitant's adjusted age is his or her age as of the birthday closest to the Annuity Payment commencement date reduced by one year for commencement dates occurring during the period of time from July 1, 1993 through December 31, 1999. The primary Annuitant's and secondary Annuitant's age will be reduced by two years for commencement dates occurring during the period of time from January 1, 2000 through December 31, 2009. The primary Annuitant's and secondary Annuitant's age will be reduced by one additional year for Annuity commencement dates occurring in each succeeding decade. The attached payment rates for Annuity Payout Options 2 and 3 are based on mortality from 1983 Table a. (e) Assumed Interest Rate (AIR) is the interest rate used to determine the amount of the first Annuity Payment under a variable Annuity Payment as shown on SCHEDULE - ANNUITY PERIOD. The Separate Account must earn this rate plus enough to cover the mortality and expense risks charges (which may include profit) and administrative charges if future variable Annuity Payments are to remain level, (SEE SCHEDULE - ANNUITY PERIOD)) . (f) Once elected, Annuity Payments cannot be commuted to a lump sum except for variable Annuity Payments under Annuity Payout Payout Option 1.. GA-IA-1080 Page 26 <PAGE>