FIXED ANNUITY PAYMENTS. With respect to Fixed Annuity Payments, the amount set forth in the Annuity Tables as adjusted for the rate of interest credited by SBL, is the amount of each monthly Annuity Payment for Annuity Options 1 through 4, 7 and 8. For Options 5 through 7, Fixed Annuity Payments are based on Contract Value. With respect to Variable Annuity Payments, the amount set forth in the Annuity Tables, as adjusted for the Assumed Interest Rate, is the amount of the FIRST monthly Annuity Payment for Annuity Options 1 through 4, 7 and 8. The amount of each Annuity Payment after the first for these options is computed by means of Annuity Units. For Options 5 through 7, Variable Annuity Payments are based on Contract Value. Variable Annuity Payments will fluctuate with the performance of the Subaccount(s).
FIXED ANNUITY PAYMENTS. With respect to Fixed Annuity Payments, the amounts shown on the Tables are the guaranteed minimum for each Annuity Payment for Annuity Options 1 through 4, 7 and 8. VARIABLE ANNUITY PAYMENTS With respect to Variable Annuity Payments, the guaranteed minimum first Annuity Payment for Annuity Options 1 through 4, 7 and 8 are determined as discussed above. The amount of each Annuity Payment after the first for these options is computed by means of Annuity Units. ANNUITY UNITS The number of Annuity Units is found by dividing the first Annuity Payment by the Annuity Unit Value for the selected Series on the Annuity Commencement Date. The number of Annuity Units for the Series then remains constant, unless a Transfer of Annuity Units is made. After the first Annuity Payment, the dollar amount of each subsequent Annuity Payment is equal to the number of Annuity Units times the Annuity Unit Value for the Series on the due date of the Annuity Payment. -------------------------------------------------------------------------------- ANNUITY PAYMENT PROVISIONS (Continued) -------------------------------------------------------------------------------- ANNUITY UNITS (Continued) The Annuity Unit Value for each Series was first set at $1.00. The Annuity Unit Value for any subsequent Valuation Date is equal to (a) times (b) times (c), where:
FIXED ANNUITY PAYMENTS. Fixed annuity payments are periodic payments that depend only on the form and duration of the annuity payment option selected, the annuity value applied to purchase the annuity payments and the age and sex of the annuitant.
Examples of FIXED ANNUITY PAYMENTS in a sentence
FIXED ANNUITY PAYMENTS -- A series of payments made by us during the Annuity Period which we guarantee as to dollar amount.
FIXED ANNUITY PAYMENTS -- Periodic payments made to the Owner or the Owner's designee by LNY on or after the Annuity Commencement Date which LNY guarantees as to the dollar amount.
AMOUNT OF FIXED ANNUITY PAYMENTS The amount of each fixed annuity payment will be determined by applying the portion of the Contract Value allocated by You for Fixed Annuitization, less any applicable premium taxes, to the annuity table applicable to the fixed annuity payment option chosen.
FIXED ANNUITY PAYMENTS Fixed annuity payments start on the end of the Valuation Period that contains the annuity commencement date.
FIXED ANNUITY PAYMENTS - Fixed Annuity payments are determined at annuitization by multiplying the value of the Fixed Account (less applicable Premium Taxes) by a rate to be determined by Us, which is no less than the rate specified in the fixed Annuity payment tables in the contract.
More Definitions of FIXED ANNUITY PAYMENTS
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.
FIXED ANNUITY PAYMENTS. With respect to Fixed Annuity Payments, the amounts shown on the Tables are the guaranteed minimum for each Annuity Payment for Annuity Options 1 through 4. With respect to Fixed Annuity Payments, the amounts shown on the Tables are the first Annuity Payment, based on the assumed interest rate of 3 1/2% for Annuity Options 1 through 4. The amount of each Annuity Payment after the first for these options is computed by means of Annuity Units. Neither expense actually incurred (other than tax on investment return), nor mortality actually experienced, shall adversely affect the dollar amount of annuity income already commenced.
FIXED ANNUITY PAYMENTS. With respect to Fixed Annuity Payments, the amounts shown on the Tables are the guaranteed minimum for each Annuity Payment for Annuity Options 1 through 4. With respect to Variable Annuity Payments, the amounts shown on the Tables are the first Annuity Payment, based on the assumed interest rate of 3 1/2% for Annuity Options 1 through 4. The amount of each Annuity Payment after the first for these options is computed by means of Annuity Units.
FIXED ANNUITY PAYMENTS. A series of payments made during the Annuity Period which are guaranteed as to dollar amount by the Company.
FIXED ANNUITY PAYMENTS. Fixed annuity payments under Option 1 or 2 above do not fluctuate. Interest at a rate not less than that shown in the Annuity Tables provision is applied from the Annuity Date to the Annuity Payment Date, and the payment amount will be determined based on the annuity rates for the annuity option and frequency of payment selected. The annuity rates per $1,000 of value for Monthly Fixed Annuity Payments under Options 1 and 2 above will not be less than those shown in the Annuity Tables. GENERAL PROVISIONS Entire Contract: This Annuity, including any riders, endorsements, schedule supplements, and amendments that are made part of this Annuity are the entire contract. This Annuity may be changed or modified only in a writing signed by our President, a Vice President, or Secretary. We are not bound by any promises or representations made by or to any other person. Incontestability: We will not contest this Annuity. Any statements made in applying for the Annuity are considered representations, not warranties.
FIXED ANNUITY PAYMENTS. With respect to Fixed Annuity Payments, the amounts shown on the Tables are the guaranteed minimum for each Annuity Payment for Annuity Options 1 through 4, 7 and 8. VARIABLE ANNUITY PAYMENTS With respect to Variable Annuity Payments, the amounts shown on the Tables are the guaranteed minimum first Annuity Payment, based on the assumed interest rate of 3.5% for Annuity Options 1 through 4, 7 and 8. The amount of each Annuity Payment after the first for these options is computed by means of Annuity Units. ALTERNATE ANNUITY OPTION RATES The Company may, at the time of election of an Annuity Option, offer more favorable rates in lieu of the guaranteed rates shown in the Annuity Tables. V6320 G (2-97) 14 -------------------------------------------------------------------------------- ANNUITY PAYMENT PROVISIONS (Continued) -------------------------------------------------------------------------------- ANNUITY OPTIONS OPTION 1 LIFE OPTION: This option provides payments for the life of the Annuitant. Table A shows some of the guaranteed rates for this option. OPTION 2 LIFE WITH FIXED PERIOD OPTION: This option provides payments for the life of the Annuitant. A fixed period of 5, 10, 15 or 20 years may be chosen. Payments will be made to the end of this period even if the Annuitant dies prior to the end of the period. If the Annuitant dies before receiving all the payments during the fixed period, the remaining payments will be made to the Designated Beneficiary. Table A shows some of the guaranteed rates for this option. OPTION 3 LIFE WITH INSTALLMENT OR UNIT REFUND OPTION: This option provides payments for the life of the Annuitant, with a period certain determined by dividing the Annuity Start Amount by the amount of the first payment. A fixed number of payments will be made even if the Annuitant dies. If the Annuitant dies before receiving the fixed number of payments, any remaining payments will be made to the Designated Beneficiary. Table A shows some of the guaranteed rates for this option.
FIXED ANNUITY PAYMENTS. With respect to Fixed Annuity Payments, the amounts shown on the Tables are the guaranteed minimum for each Annuity Payment for Annuity Options 1 through 4, 7 and 8. -17- BP 602381 -------------------------------------------------------------------------------- ANNUITY PAYMENT PROVISIONS (Continued) -------------------------------------------------------------------------------- VARIABLE ANNUITY PAYMENTS With respect to Variable Annuity Payments, the guaranteed minimum first Annuity Payment for Annuity Options 1 through 4, 7 and 8 are determined as discussed on page 17. The amount of each Annuity Payment after the first for these options is computed by means of Annuity Units.