ANNUITY PERIOD definition
Examples of ANNUITY PERIOD in a sentence
When a variable Annuity Payment has been elected, four free Transfers are allowed each Account Year among the Subaccounts available during the Annuity Period.
FIXED ANNUITY PAYMENTS -- A series of payments made by us during the Annuity Period which we guarantee as to dollar amount.
VARIABLE ANNUITY PAYMENTS -- A series of payments made by us during the Annuity Period which vary in amount with the investment experience of each applicable Subaccount.
Upon the death of the Annuitant during the Annuity Period, the death benefit, if any, will be as specified in the Annuity Option elected.
The death of a non-Annuitant Owner or Joint Owner has no effect on the payout during the Annuity Period.
Upon the death of a Contract Owner during the Annuity Period, the Beneficiary becomes the Contract Owner.
If the Contract Owner or a Joint Contract Owner, who is not the Annuitant, dies during the Annuity Period, any remaining payments under the Annuity Option elected will continue at least as rapidly as under the method of distribution in effect at such Contract Owner’s death.
If the Annuitant dies during the Annuity Period, the Beneficiary, if any, or the Annuitant's estate will receive the amount payable, if any, according to the in-force annuity options.
Upon the death of any Owner during the Annuity Period, the Beneficiary becomes the Owner.
An annuity with a series of payments made during the Annuity Period which are guaranteed as to dollar amount by Us. General Account: Our general investment account which contains all of Our assets except those in the Variable Account and Our other separate accounts.