TRANSFERS AFTER THE ANNUITY COMMENCEMENT DATE. Once variable annuity payouts have begun, the Owner may Transfer all or part of the Investment Segment Account Value from one Sub-Account of the Investment Segment Account to another Sub-Account in the Investment Segment Account. Transfers after the Annuity Commencement Date will be made by converting the number of Annuity Units being Transferred to the number of Annuity Units of the Sub- Account to which the Transfer is made. The result will be that the next annuity payout, if it were made at that time, would be the same amount that it would have been without the Transfer. Thereafter, annuity payouts will reflect changes in the value of the new Annuity Units. The Contract’s Transfer provisions will apply.
TRANSFERS AFTER THE ANNUITY COMMENCEMENT DATE. After the Annuity Commencement Date, if any portion of the annuity payment is a Variable Annuity Payment, the Owner may direct a transfer of assets from one Variable Subaccount to another Variable Subaccount or to a Fixed Annuity Payment by providing Notice to transfer. Such transfers will be limited to [three (3)] times per Contract Year. Assets may not be transferred from a Fixed Annuity Payment to a Variable Annuity Payment. A transfer from one Variable Subaccount to another Variable Subaccount will result in the purchase of Annuity Units in one Variable Subaccount and the redemption of Annuity Units in the other Variable Subaccount. Such a transfer will be accomplished at relative Annuity Unit values as of the Valuation Date the Notice to transfer is received. The valuation of Annuity Units is described above. A transfer from a Variable Subaccount to a Fixed Annuity Payment will result in the redemption of Annuity Units in that Variable Subaccount and the purchase of a minimum Fixed Annuity Payment based on the tables on the attached Annuity Payment Option Rider.
TRANSFERS AFTER THE ANNUITY COMMENCEMENT DATE. After the Annuity Commencement Date, You may transfer the value of the variable annuity units from one Subaccount to another within the Separate Account or to the Fixed Account. If You want to transfer the value of the variable annuity units, You must provide a signed notice, containing the facts that we need. We reserve the right to limit transfers between the Subaccounts or to the Fixed Accounts to once per Policy Year. The minimum amount which may be transferred is the lesser of $10 monthly income or the entire monthly income of the variable annuity units in the Subaccount from which the transfer is being made. If the monthly income of the remaining units in a Subaccount is less than $10, we have the right to include the value of those variable annuity units as part of the transfer. After the Annuity Commencement Date, no transfers may be made from the Fixed Account to any other Investment Options.
TRANSFERS AFTER THE ANNUITY COMMENCEMENT DATE. After the annuity commencement date, you may transfer the value of the variable annuity units from one subaccount to another within the separate account or to the fixed account. If you want to transfer the value of the variable annuity units, you must provide a signed notice, containing the facts that we need. We reserve the right to limit transfers between the subaccounts or to the fixed accounts to once per policy year. The minimum amount which may be transferred is the lesser of $10 monthly income or the entire monthly income of the variable annuity units in the subaccount from which the transfer is being made. If the monthly income of the remaining units in a subaccount is less than $10, we have the right to include the value of those variable annuity units as part of the transfer. After the annuity commencement date, no transfers may be made from the fixed account to any other income option.
TRANSFERS AFTER THE ANNUITY COMMENCEMENT DATE. After the Annuity Commencement Date, if any portion of the annuity payment is a Variable Annuity Payment, the Owner may direct a transfer of assets from one Variable Subaccount to another Variable Subaccount or to a Fixed Annuity Payment by providing Notice to transfer. Such transfers will be limited to three times per Contract Year. Assets may not be transferred from a Fixed Annuity Payment to a Variable Annuity Payment. A transfer from one Variable Subaccount to another Variable Subaccount will result in the purchase of Annuity Units in one Variable Subaccount and the redemption of Annuity Units in the other Variable Subaccount. Such a transfer will be accomplished at relative Annuity Unit values as of the Valuation Date the Notice to transfer is received. The valuation of Annuity Units is described above. A transfer from a Variable Subaccount to a Fixed Annuity Payment will result in the redemption of Annuity Units in that Variable Subaccount and the purchase of a minimum Fixed Annuity Payment based on the tables in the PAYMENT OPTION TABLES provisions of this Contract. PROOF OF AGE. Payment will be subject to proof of age that We will accept, such as a certified copy of a birth certificate.
TRANSFERS AFTER THE ANNUITY COMMENCEMENT DATE. Once variable annuity payouts have begun, the Owner may Transfer all or part of the Annuity Account Value from one Sub-Account to another. Transfers after the Annuity Commencement Date will be made by converting the number of Annuity Units being Transferred to the number of Annuity Units of the sub-account to which the Transfer is made. The result will be that the next annuity payout, if it were made at that time, would be the same amount that it would have been without the Transfer. Thereafter, annuity payouts will reflect changes in the value of the new Annuity Units. The Contract’s Transfer provisions will apply.
TRANSFERS AFTER THE ANNUITY COMMENCEMENT DATE. Once variable annuity payouts have begun, the Owner will no longer be able to Transfer all or part of the Annuity Account Value from one Sub-Account to another.
TRANSFERS AFTER THE ANNUITY COMMENCEMENT DATE. After the Annuity Commencement Date, You may transfer the value of the variable annuity units from one Subaccount to another within a Separate Account or to the Fixed Account. If You want to transfer the value of the variable annuity units, You must tell us in a signed notice which gives us the facts that we need. We reserve the right to limit transfers between the Subaccounts or to the Fixed Account to once per Contract Year. The minimum amount which may be transferred is the lesser of $10 monthly income or the entire monthly income of the variable annuity units in the Subaccount from which the transfer is being made. If the monthly income of the remaining units in a Subaccount is less than $10, we have the right to include the value of those variable annuity units as part of the transfer. After the Annuity Commencement Date, no transfers may be made from the Fixed Account to any other Investment Options. VB1148 SECTION 9 ---------- DEATH PROCEEDS ----------------------------
A. DEATH PROCEEDS PRIOR TO ANNUITY COMMENCEMENT DATE The amount of death proceeds will be the greater of (a) or (b) where:
(a) is the Account Value on the date we receive due proof of death and an election of a method of settlement; and (b) is the Guaranteed Minimum Death Benefit (GMDB), if any, plus any additional purchase payments received, less any Partial Withdrawals from the date of death to the date of payment of death proceeds. If You have not selected a payment option by the date of death, the beneficiary may make such election within one year of the date we receive due proof of the owner's or Xxxxxxxxx's death as described in B below. The beneficiary may elect to receive the death proceeds as a lump sum payment or may use the death proceeds to provide any of the annuity Payment Options described in Section 10. Interest on death proceeds will be paid as required by law.
TRANSFERS AFTER THE ANNUITY COMMENCEMENT DATE. After the Annuity Commencement Date, if the owner has elected a variable annuity payout option, the owner may transfer all or a portion of the Annuity Units credited under such option among the Variable Investment Options. Transfers may be made only once each month. GIAC must receive transfer instructions in Good Order at least 15 days before the due date of the first variable annuity payment to which the transfer will apply. The number of additional Annuity Units credited to a newly elected Variable Investment Option will be equal to (a) divided by (b), where:
TRANSFERS AFTER THE ANNUITY COMMENCEMENT DATE. After the Annuity Commencement Date, if any portion of the Annuity Payment is a Variable Annuity Payment, the Owner may direct a Transfer of assets from one Variable Subaccount to another Variable Subaccount or to a Fixed Annuity Payment by providing Notice to Transfer. Such Transfers will be limited to three times per Contract Year. Assets may not be transferred from a Fixed Annuity Payment to a Variable Annuity Payment. ICC23-60022 Page 8 A Transfer from one Variable Subaccount to another Variable Subaccount will result in the purchase of Annuity Units in one Variable Subaccount and the redemption of Annuity Units in the other Variable Subaccount. Such a Transfer will be processed at the relative Annuity Unit values as of the Valuation Date the Notice to Transfer is executed. The valuation of Annuity Units is described in the ANNUITY PAYMENT OPTIONS provision. A Transfer from a Variable Subaccount to a Fixed Annuity Payment will result in the redemption of Annuity Units in that Variable Subaccount and the purchase of a minimum Fixed Annuity Payment based on the applicable factor shown on the Payment Option table on the Contract Specifications.
