Years. If this is a Qualified Contract and you are married, the Annuity Option will be Joint and Survivor Life, with survivor payments of 50%, and your spouse will automatically be named as the secondary Annuitant. The Annuity Option may be changed by providing proper notice to us at least ten (10) Business Days prior to the current Annuity Date, to any other Annuity Option contained in this Contract or allowed by us. Unless otherwise specified or changed, we will make annuity payments based on our most frequent payment schedule that results in an initial annuity payment of at least $250. The payment frequency may be changed by providing proper notice to us at least ten (10) Business Days prior to the current Annuity Date. Subject to our minimum requirements, the Net Contract Value less any charges for premium taxes and/or other taxes will be converted to a variable annuity and applied to the Subaccounts in proportion to the Account Value in each Subaccount on the Annuity Date.
Appears in 3 contracts
Samples: Insurance Contract (Separate Account a of Pacific Life Insurance Co), Insurance Contract (Separate Account a of Pacific Life Insurance Co), Insurance Contract (Separate Account a of Pacific Life Insurance Co)
Years. If this is a Qualified Contract and you are married, the Annuity Option will be Joint and Survivor Life, with survivor payments of 50%, and your spouse will automatically be named as the secondary Annuitant. The Annuity Option may be changed by providing proper notice to us at least ten (10) Business Days prior to the current Annuity Date, to any other Annuity Option contained in this Contract or allowed by us. Unless otherwise specified or changed, we will make annuity payments based on our most frequent payment schedule that results in an initial annuity payment of at least $250. The payment frequency may be changed by providing proper notice to us at least ten (10) Business Days prior to the current Annuity Date. Subject to our minimum requirements, the Net Contract Value Value, less any charges for premium taxes and/or other taxes taxes, will be converted to a variable annuity and applied to the Subaccounts in proportion to the Account Value in each Subaccount on the Annuity Date.
Appears in 2 contracts
Samples: Insurance Contract (Separate Account a of Pacific Life Insurance Co), Insurance Contract (Separate Account a of Pacific Life Insurance Co)
Years. If this is a Qualified Contract and you are married, the Annuity Option will be Joint and Survivor Life, with survivor payments of 50%, and your spouse will automatically be named as the secondary Annuitant. The Annuity Option may be changed by providing proper notice to us at least ten (10) Business Days prior to the current Annuity Date, to any other Annuity Option contained in this Contract or allowed by us. Unless otherwise specified or changed, we will make annuity payments based on our most frequent payment schedule that results in an initial annuity payment of at least $25020. The payment frequency may be changed by providing proper notice to us at least ten (10) Business Days prior to the current Annuity Date. Subject to our minimum requirements, the Net Contract Value less any charges for premium taxes and/or other taxes will be converted to a variable annuity and applied to the Subaccounts in proportion to the Account Value in each Subaccount on the Annuity Date.
Appears in 2 contracts
Samples: Insurance Contract (Separate Account a of Pacific Life & Annuity Co), Insurance Contract (Separate Account a of Pacific Life & Annuity Co)
Years. If this is a Qualified Contract and you are married, the Annuity Option will be Joint and Survivor Life, with survivor payments of 50%, and your spouse will automatically be named as the secondary Annuitant. The Annuity Option may be changed by providing proper notice to us at least ten (10) Business Days prior to the current Annuity Date, to any other Annuity Option contained in this Contract or allowed by us. Unless otherwise specified or changed, we will make annuity payments based on our most frequent payment schedule that results in an initial annuity payment of at least $25020. The payment frequency may be changed by providing proper notice to us at least ten (10) Business Days prior to the current Annuity Date. Subject to our minimum requirements, the Net Contract Value Value, less any charges for premium taxes and/or other taxes taxes, will be converted to a variable annuity and applied to the Subaccounts in proportion to the Account Value in each Subaccount on the Annuity Date.
Appears in 1 contract
Samples: Variable Annuity Contract (Separate Account a of Pacific Life & Annuity Co)
Years. If this is a Qualified Contract and you are married, the Annuity Option will be Joint and Survivor Life, with survivor payments of 50100%, and your spouse will automatically be named as the secondary Annuitant. The Annuity Option may be changed by providing proper notice to us at least ten (10) Business Days prior to the current Annuity Date, to any other Annuity Option contained in this Contract or allowed by us. Unless otherwise specified or changed, we will make annuity payments based on our most frequent payment schedule that results in an initial annuity payment of at least $25020. The payment frequency may be changed by providing proper notice to us at least ten (10) Business Days prior to the current Annuity Date. Subject to our minimum requirements, the Net Contract Value less any charges for premium taxes and/or other taxes will be converted to a variable fixed annuity and applied to the Subaccounts in proportion to the Account Value in each Subaccount payout option on the Annuity Date.
Appears in 1 contract
Samples: Contract (Separate Account a of Pacific Life & Annuity Co)