VARIABLE ANNUITIES Sample Clauses

VARIABLE ANNUITIES. All accounts (except for Trust accounts) Client information & Suitability form Variable Annuity Disclosure Copy of the Application (including all transfer forms or copy of the check, replacement notices, etc…) Trust Client Information & Suitability form Group/Entity Client Information & Suitability form for Additional Signers (only needed if more than two trustees) TCIP – Direct Variable Annuity Disclosure Copy of Sponsor Paperwork For Additional Funds being placed into an existing VA… Variable Annuity Disclosure for Additional Purchases Copy of the check (new) Equity Index Annuities All accounts (except for Trust accounts) Client information & Suitability form Equitable Index Annuity Disclosure Copy of the Application (including all transfer forms or copy of the check, replacement notices, etc…) Trust Client Information & Suitability form Group/Entity Client Information & Suitability form for Additional Signers (only needed if more than two trustees) Equitable Index Annuity Disclosure TCIP – Direct Copy of Sponsor Paperwork
Sample 1
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VARIABLE ANNUITIES. Variable Annuities may be provided eligible Participants from the interest of this Contract in Separate Account (B), subject to the other provisions of this Contract. Accumulation Units held as reserves for such Variable Annuities shall be separated by the Company from those held for future benefits of actively employed Participants, and credited to a Variable Annuity account. (This account shall also be credited with reserves for Variable Annuities provided under all other similar contracts issued by the Company, with all such reserves held in common.) The Company shall guarantee the mortality and future expense factors of Variable Annuities hereunder, but the investment element shall be directly related to the fair value from time to time of the Accumulation Units in the Variable Annuity account.
Sample 1
VARIABLE ANNUITIES. Compensation to Dealer for variable annuity contracts produced by Representatives of Dealer shall be paid as a percentage of the purchase payments received by ONLI in the first annuity contract year and in later annuity contract years as shown below: Compensation % ------------------------- Annuity Issue First Later Contract Age Year Years -------- --- ---- ----- Top Tradition All ages 6.50% 5.25% Top Spectrum to age 75 6.50% 5.25% 76 - 85 3.25% 2.75% Top Explorer to age 75 6.20% 4.95% 76 - 85 3.10% 2.48% Top Plus All ages 5.00% Compensation to Dealer for any Retirement Advantage group annuity contract produced by Representatives of Dealer will be paid equal to 4.5% of all Contract Contributions received by ONLI.
Sample 1
VARIABLE ANNUITIES. Compensation to Dealer for variable annuity contracts produced by Representatives of Dealer shall be paid as follows: FIRST YEAR COMMISSIONS shall be paid at the rates shown in the table below as a percentage of the purchase payments received by ONLI in the first annuity contract year; and RENEWAL COMMISSIONS shall be paid at the rates shown in the table below as a percentage of the purchase payments received by ONLI in the second and later annuity contract years (the renewal years); and TRAIL COMMISSIONS shall be paid at the end of each completed annuity contract year at the rates shown in the table below as a percentage of the average monthly cash values of the annuity contract during the annuity contract year. Average monthly cash values equal one-twelfth of the sum of the cash values at the end of each contract month in the annuity contract year. A Trail Commission is not payable for the annuity contract year in which the annuity contract terminates. Dealer shall select the compensation option under which commission payments will be made to Dealer. Dealer may select a single option which will apply to all annuity contracts solicited by all of Dealer's Representatives, or Dealer may select a different option for each Representative. If a different option is selected for each Representative, the option selected for a particular Representative will then apply to all annuity contracts solicited by that Representative. Dealer must notify ONLI in writing of the option which will apply to annuity contracts solicited by all of its Representatives or of the option selected for each Representative as the case may be. If no other option is selected, Dealer will be compensated under Option I below. Once selected, an option may not be changed unless ONLI, in its sole discretion, approves the change. Any such change will be prospective only and will apply solely to annuity contracts issued on and after the date the requested change is accepted and approved by ONLI. Option Option I II -------------------------------------------------------------- Dealer Selection [ ] [ ] -------------------------------------------------------------- Commission % ------------------------ Tradition First Year 6.50 5.50 & Renewal Years 5.25 4.25 Spectrum* Trail 0 .20 -------------------------------------------------------------- Explorer* First Year 6.20 5.20 Renewal Years 4.95 3.95 Trail 0 .20 -------------------------------------------------------------- Top Plus First Year 5.00 4.00 ...
Sample 1

Related to VARIABLE ANNUITIES

  • Fixed Annuity 10 1.16 Fund(s) ........................................................... 10 1.17

  • Life Annuity The monthly annuity shall be payable to the annuitant for as long as the annuitant lives, and shall end with the last monthly payment before the death of the annuitant.

  • Fixed Annuity Payments The minimum guaranteed income purchased per $1,000 of the net amount applied to a fixed annuity is based on an annual interest rate of 3% and the 1983a Mortality Table with the ages set back ten (10) years. Conversion to Current Rates – Annuity payments will be based on the greater of: • our current income factors in effect for this Contract on the Annuity Date; or • our guaranteed income factors. The dollar amount of any payments after the first annuity payment is specified during the annuity payment period according to the provisions of the elected Annuity Option.

  • ANNUITY 24.1 If the policy schedule states that the insured amount is a surviving dependant's annuity within the meaning of Section 3.125(1)(b) of the Income Tax Act 2001, this article shall apply.

  • Variable Account General Description — The variable benefits under the Contract are provided through the Protective Variable Annuity Separate Account (the “Variable Account”), which is registered with the Securities and Exchange Commission as a unit investment trust under the Investment Company Act of 1940. We own the assets in the Variable Account. The portion of the assets of the Variable Account equal to the reserves and other contract liabilities with respect to the Variable Account cannot be charged with the liabilities arising out of any other business we may conduct. The income, gains and losses, both realized and unrealized, from the assets of the Variable Account shall be credited to or charged against the Variable Account without regard to any other income, gains or losses of the Company. We have the right to transfer to our general account any assets of the Variable Account that are in excess of such reserves and other liabilities.

  • ANNUITY PAYMENTS If the Annuitant is living and this contract is in force on the Annuity Commencement Date, based on the election we have on record we will begin to make annuity payments under one of the payout options below or any other payout option we make available. You may elect for payments to be made monthly, quarterly, semi-annually or annually or any other frequency that we make available. If no election is made as of the Annuity Commencement Date, payments will be made monthly under Fixed Annuity Payout Option F-2 with a guaranteed period of 10 years. If annuity payout option F-3 is chosen, you must select a joint Annuitant prior to the Annuity Commencement Date. All annuity payments are based on: • the age and sex (if a Non-Qualified Contract) of the Annuitant at the birthday nearest the Annuity Commencement Date; • the Accumulation Value on the Annuity Commencement Date less any annuity taxes; • the annuity payout option elected; and • the annuity payout frequency. Payee Unless you request otherwise, the payee of any annuity payments will be the first among the following who is living at the time the payment is to be made: • any surviving Owner or joint Owner; if none then • any surviving Primary Beneficiary; if none then • any surviving Contingent Beneficiary. If no payees are living and a guaranteed period has not ended, the present value of any remaining payments will be paid to the estate of the last remaining payee. Annuity Payout Options You may elect to receive annuity payments from one of the following options or any other option we make available. Unless stated otherwise, once annuity payments begin you may not change the Annuitant, payout option, guaranteed period or, in the case of option F-3, the survivor percentage. Life Annuity without Guaranteed Period (Option F-1) We will make fixed annuity payments during the lifetime of the Annuitant. We do not guarantee a minimum number of annuity payments under this option. Payments stop once the Annuitant dies. Life Annuity with Guaranteed Period (Option F-2) We will make fixed annuity payments during the lifetime of the Annuitant. Payments are guaranteed for any number of full years between 1 and 30. The length of the guaranteed period must be elected prior to receiving any annuity payments, and cannot exceed the life expectancy of the Annuitant. If the Annuitant dies before the end of the guaranteed period, we will pay the balance of the payments for the remainder of that period, unless you elect to be paid the present value of the current dollar amount of the then remaining annuity payments in a lump sum. Joint and Survivor Annuity (Option F-3) We will make fixed annuity payments while the Annuitant and joint Annuitant are living and during the survivor’s remaining lifetime. Based on your selection, payments may have no guaranteed period or may have a guaranteed period for any number of full years between 1 and 30. If you select a guaranteed period, the length of the guaranteed period must be elected prior to receiving any annuity payments, and cannot exceed the joint life expectancy of the Annuitants. When the Annuitant or the joint Annuitant dies, payments based on a percentage of the payment in effect while both were living will continue for the lifetime of the survivor. The percentage may be any percentage between 5% and 100%. The percentage must be elected prior to receiving the first annuity payment. If both the Annuitant and joint Annuitant die before the end of any guaranteed period, we will pay the balance of the payments for the remainder of that period, unless you elect to be paid the present value of the current dollar amount of the then remaining annuity payments in a lump sum.

  • VARIABLE INTEREST RATE The interest rate on this loan is subject to change from time to time based on changes in an independent index which is the Wall Street Journal Prime Rate as published in the "Money Rates" table in the Wall Street Journal from time to time (the "Index"). The Index is not necessarily the lowest rate charged by Lender on its loans. If the Index becomes unavailable during the term of this loan, Lender may designate a substitute index after notifying Borrower. Lender will tell Borrower the current Index rate upon Borrower's request. The interest rate change will not occur more often than each day. Borrower understands that Lender may make loans based on other rates as well. The Index currently is 4.750% per Loan No: 310036 CHANGE IN TERMS AGREEMENT (Continued) Page 2 annum. Interest prior to maturity on the unpaid principal balance of this loan will be calculated as described in the "INTEREST CALCULATION METHOD" paragraph using a rate of 0.750 percentage points over the Index, adjusted if necessary for any minimum and maximum rate limitations described below, resulting in an initial rate of 5.500% per annum based on a year of 360 days. NOTICE: Under no circumstances will the interest rate on this loan be less than 4.250% per annum or more than (except for any higher default rate or Post Maturity Rate shown below) the lesser of 18.000% per annum or the maximum rate allowed by applicable law. For purposes of this Agreement, the "maximum rate allowed by applicable law" means the greater of (A) the maximum rate of interest permitted under federal or other law applicable to the indebtedness evidenced by this Agreement, or (B) the "Weekly Ceiling" as referred to in Sections 303.002 and 303.003 of the Texas Finance Code. INTEREST CALCULATION METHOD. Interest on this loan is computed on a 365/360 basis; that is, by applying the ratio of the interest rate over a year of 360 days, multiplied by the outstanding principal balance, multiplied by the actual number of days the principal balance is outstanding, unless such calculation would result in a usurious rate, in which case interest shall be calculated on a per diem basis of a year of 365 or 366 days, as the case may be. All interest payable under this loan is computed using this method.

  • ANNUITY PAYMENT OPTIONS a. Life Annuity / Life Annuity with Certain Period -- Fixed and/or Variable Annuity Payments will be made for the lifetime of the Annuitant with no Certain Period, or life and a 10 year Certain Period, or life and a 20 year Certain Period.

  • Annuitization An Annuitization Fee will be paid to a Marketing Organization who secures from the Contract Owner (or his or her beneficiary) the proper forms and information to commence an immediate life contingent annuity option under the Contract and significantly assists the client and SBL in such settlement. The Annuitization Fee will be equal to 4% of the amount applied to a fixed life contingent annuity option and 2% of the amount applied to a variable life contingent annuity option.

  • Income Payments Seller shall be entitled to receive an amount equal to all Income paid or distributed on or in respect of the Securities that is not otherwise received by Seller, to the full extent it would be so entitled if the Securities had not been sold to Buyer. Buyer shall, as the parties may agree with respect to any Transaction (or, in the absence of any such agreement, as Buyer shall reasonably determine in its discretion), on the date such Income is paid or distributed either (i) transfer to or credit to the account of Seller such Income with respect to any Purchased Securities subject to such Transaction or (ii) with respect to Income paid in cash, apply the Income payment or payments to reduce the amount, if any, to be transferred to Buyer by Seller upon termination of such Transaction. Buyer shall not be obligated to take any action pursuant to the preceding sentence (A) to the extent that such action would result in the creation of a Margin Deficit, unless prior thereto or simultaneously therewith Seller transfers to Buyer cash or Additional Purchased Securities sufficient to eliminate such Margin Deficit, or (B) if an Event of Default with respect to Seller has occurred and is then continuing at the time such Income is paid or distributed.

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