TERMS OF PAYMENT OF ANNUITIES. Life annuities and Payment Certain annuities are available under this contract. A Life form of annuity is one payable at least during the lifetime of the person (referred to as the "Annuitant") for whom it was purchased. Depending upon the existence and nature of any payment payable after the death of the Annuitant, a Life annuity will be one of the following forms: Life - Payment Certain, Life - Contingent, or Life - Payment Certain Contingent annuity. A Payment Certain form of GVA-1010-87 (24) Serial 400 4.1-4.4 annuity may be payable for a period less than the lifetime of the person for whom the annuity was purchased. The terms of payment of each form of annuity are described below.
Appears in 3 contracts
Samples: Group Annuity Contract (Prudential Variable Contract Account 24), Group Annuity Contract (Prudential Variable Contract Account 24), Group Annuity Contract (Prudential Variable Contract Account 24)
