Income Phase definition

Income Phase. The period during which you receive payments from your Contract. Investor (also “you” or “participant”): The individual who participates in the Contract through a retirement plan.
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Income Phase. During the Income Phase, you start receiving annuity, or Income Phase, payments from your Contract. The Contract offers several Income Phase payment options. However, you will be unable to make withdrawals, and any death benefits and living benefits will terminate. In general, you may: • Receive Income Phase payments over a lifetime or for a specified period; • Receive Income Phase payments monthly, quarterly, semi-annually or annually; • Select an Income Phase option that provides a death benefit to Beneficiaries; or • Select fixed Income Phase payments or payments that vary based on the performance of the Variable Investment Options you select.
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Income Phase. The period beginning on the Annuity Date during which the Payee receives Annuity Payments. Index: The market index used to determine the Index Return for an Indexed Account.
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Examples of Income Phase in a sentence

  • Income Phase You can elect to annuitize your Contract and turn your Contract Value into a stream of fixed and/or variable income payments from us.

  • Please see Appendix A: Funds Available Under the Contract.Annuity (Income) Phase.

  • This example will not apply if during the Income Phase a nonlifetime payment option is elected with variable payments and a lump-sum payment is requested within a certain number of years as specified in the contract.

  • ANNUITY OPTIONS The Income Phase will start no later than the maximum annuitization age shown on the contract data page, or an earlier date if required by law.

  • To start the Income Phase, you must notify us in writing at least 30 days prior to the date that you want annuity payments to begin.

  • During the Income Phase, the payee (you or someone you choose) receives regular annuity payments beginning on the Annuity Date.

  • The availability of a death benefit during the Income Phase depends upon the Income Phase annuity payment option selected.

  • Once you begin receiving annuity payments, your Contract is in the Income Phase.

  • By remaining in the Accumulation Phase, you retain certain rights and investment flexibility not available during the Income Phase.

  • When the Contract switches to the Income Phase, the guaranteed minimum death benefit will no longer be applicable.


More Definitions of Income Phase

Income Phase. During the Income Phase, you start receiving annuity, or Income Phase, payments from your Contract. The Contract offers several Income Phase payment options. In general, you may: · Receive Income Phase payments over a lifetime or for a specified period; · Receive Income Phase payments monthly, quarterly, semi-annually or annually; · Select an Income Phase option that provides a death benefit to Beneficiaries; or · Select fixed Income Phase payments or payments that vary based on the performance of the Variable Investment Options you select. ISP.01107-22 (Texas K-12 Contracts) 8 Withdrawals will not be allowed during the Income Phase. See “THE INCOME PHASE” in the full prospectus for the Contract. The Variable Investment Options The Variable Investment Options are Subaccounts within the Separate Account. Each Subaccount invests its assets directly in shares of a corresponding underlying Fund, and each Fund has its own distinct investment objectives, fees and expenses and investment advisers. Earnings on amounts invested in a Subaccount will vary depending upon the performance and fees of the corresponding underlying Fund. You do not invest directly in or hold shares of the Funds. Additional information about each underlying fund is set forth in an appendix to this summary prospectus. See “APPENDIX: FUNDS AVAILABLE UNDER THE CONTRACT.” There is no guarantee that your Account Value will increase. Depending upon the investment experience of each Fund in which a Subaccount invests, your Account Value may increase or decrease daily. You bear the investment risk for the Funds in which the Subaccounts invest; you will benefit from favorable investment experience but also bear the risk of poor investment performance.
Sample 1
Income Phase. During the Income Phase, you start receiving annuity, or Income Phase, payments from your Contract. However, during the Income Phase you will be unable to make withdrawals, and any death benefits and living benefits will terminate. The Contract offers several Income Phase payment options. In general, you may: • Receive Income Phase payments over a lifetime or for a specified period; • Receive Income Phase payments monthly, quarterly, semi-annually or annually; • Select an Income Phase option that provides a death benefit to Beneficiaries; or Withdrawals will not be allowed during the Income Phase. See “THE INCOME PHASE” in the full Contract Prospectus. The Variable Investment Options The Variable Investment Options are Subaccounts within the Separate Account. Each Subaccount invests its assets directly in shares of a corresponding underlying Fund, and each Fund has its own distinct investment objectives, fees and expenses and investment advisers. Earnings on amounts invested in a Subaccount will vary depending upon the performance and fees of the corresponding underlying Fund. You do not invest directly in or hold shares of the Funds. Additional information about each underlying fund is set forth in an appendix to this summary prospectus. See “APPENDIX: FUNDS AVAILABLE UNDER THE CONTRACT.” There is no guarantee that your Account Value will increase. Depending upon the investment experience of each Fund in which a Subaccount invests, your Account Value may increase or decrease daily. You bear the investment risk for the Funds in which the Subaccounts invest; you will benefit from favorable investment experience but also bear the risk of poor investment performance. Contract Features
Sample 1
Income Phase. During the Income Phase, you start receiving annuity, or Income Phase, payments from your Contract. However, during the Income Phase you will be unable to make withdrawals, and any death benefits and living benefits will terminate. The Contract offers several Income Phase payment options. In general, you may: • Receive Income Phase payments over a lifetime or for a specified period; • Receive Income Phase payments monthly, quarterly, semi-annually or annually; • Select an Income Phase option that provides a death benefit to Beneficiaries; or
Sample 1
Income Phase. During the Income Phase, you start receiving annuity, or Income Phase, payments from your Contract. The Contract offers several Income Phase payment options. In general, you may: · Receive Income Phase payments over a lifetime or for a specified period; · Receive Income Phase payments monthly, quarterly, semi-annually or annually; · Select an Income Phase option that provides a death benefit to Beneficiaries; or Withdrawals will not be allowed during the Income Phase. See “THE INCOME PHASE” in the full prospectus for the Contract. ISP.75962-22 8 The Variable Investment Options The Variable Investment Options are Subaccounts within the Separate Account. Each Subaccount invests its assets directly in shares of a corresponding underlying Fund, and each Fund has its own distinct investment objectives, fees and expenses and investment advisers. Earnings on amounts invested in a Subaccount will vary depending upon the performance and fees of the corresponding underlying Fund. You do not invest directly in or hold shares of the Funds. Additional information about each underlying fund is set forth in an appendix to this summary prospectus. See “APPENDIX: FUNDS AVAILABLE UNDER THE CONTRACT.” There is no guarantee that your Account Value will increase. Depending upon the investment experience of each Fund in which a Subaccount invests, your Account Value may increase or decrease daily. You bear the investment risk for the Funds in which the Subaccounts invest; you will benefit from favorable investment experience but also bear the risk of poor investment performance.
Sample 1
Income Phase. The period during which you receive payments from your Contract.
Sample 1
Income Phase. During the Income Phase, you start receiving annuity, or Income Phase, payments from your Contract. The Contract offers several Income Phase payment options. However, you will be unable to make withdrawals, and any death benefits and living benefits will terminate. In general, you may: • Receive Income Phase payments over a lifetime or for a specified period; • Receive Income Phase payments monthly, quarterly, semi-annually or annually; • Select an Income Phase option that provides a death benefit to Beneficiaries; or • Select fixed Income Phase payments or payments that vary based on the performance of the Variable Investment Options you select. For more information about the Income Phase, see “THE INCOME PHASE” in the full prospectus. The Variable Investment Options The Variable Investment Options are Subaccounts within the Separate Account. Each Subaccount invests its assets directly in shares of a corresponding underlying Fund, and each Fund has its own distinct investment objectives, fees and expenses and investment advisers. Earnings on amounts invested in a Subaccount will vary depending upon the performance and fees of the corresponding underlying Fund. You do not invest directly in or hold shares of the Funds. Additional information about each underlying fund is set forth in an appendix to this summary prospectus. See “APPENDIX: FUNDS AVAILABLE UNDER THE CONTRACT.” There is no guarantee that your Account Value will increase. Depending upon the investment experience of each Fund in which a Subaccount invests, your Account Value may increase or decrease daily. You bear the investment risk for the Funds in which the Subaccounts invest; you will benefit from favorable investment experience but also bear the risk of poor investment performance. The Fixed Interest Options The following Fixed Interest Options may be available through the Contract: • The Guaranteed Accumulation Account; and • The Fixed Account. Not all Fixed Interest Options may be available for current or future investment. For descriptions of the Fixed Interest Options that may be available through the Contract, see APPENDIX B and APPENDIX C in the full Contract Prospectus and the Guaranteed Accumulation Account prospectus. The Guaranteed Accumulation Account prospectus may be obtained free of charge by calling Customer Service at 1-000-000-0000. Contract Features
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Related to Income Phase

  • Development Phase means the period before a vehicle type is type approved.

  • Design Phase means the period during which the Transporter shall prepare a draft project proposal for publication in accordance with section 4.3;

  • Phase 2 means the second implementation phase of this section, beginning June 1, 2022 and continuing thereafter.

  • Phase 1 means the first implementation phase of this section, beginning June 1, 2018 and ending May 31, 2022.

  • Construction Phase means that Phase of the Project which shall commence after the Authority provides the Trade Contractor with written Notice to Proceed with the Construction Phase.

  • Project Commencement Date means the commencement date notified to the Minister pursuant to clause 4(1);

  • Year 1 means the year next following the export date and “year” followed immediately by any other numeral has a corresponding meaning; reference in this Agreement to an Act shall include the amendments to such Act for the time being in force and also any Act passed in substitution therefor or in lieu thereof and the regulations for the time being in force thereunder; power given under any clause of this Agreement other than clause 17 hereof to extend any period or date shall be without prejudice to the power of the Minister under the said clause 17; marginal notes shall not affect the interpretation or construction hereof; the phases in which it is contemplated that this Agreement will operate are as follows —

  • Commercial Operations Upon satisfaction of the following conditions, the Facility shall be considered to have achieved Commercial Operations on the Day specified in Seller's written notice described below: (i) the Acceptance Test has been passed, (ii) all generating units have passed Control System Acceptance Tests, (iii) the Transfer Date has occurred, (iv) Seller has (1) provided to Company the Required Models (as defined in Section 6(a) (Seller's Obligation to Provide Models) of Attachment B (Facility Owned by Seller)) in the form of Source Code, (2) placed the current version of the Source Code for the Required Models with the Source Code Escrow Agent as required in Section 6(b)(i)(A) (Establishment of Source Code Escrow) of Attachment B (Facility Owned by Seller), or (3) if Seller is unable to arrange for the placement of the appropriate Source Code into the Source Code Escrow account, placed the required funds with the Monetary Escrow Agent as required in Section 6(b)(ii)(A) (Establishment of Monetary Escrow) of Attachment B (Facility Owned by Seller), and (v) Seller provides Company with written notice that (aa) Seller is ready to declare the Commercial Operations Date and (bb) the Commercial Operations Date will occur within 24 hours (i.e., the next Day).

  • Commercial Operations Date or "COD": The date on which Facility first achieves Commercial Operations.

  • Construction Phase Services means the coordination, implementation and execution of the Work required by this Agreement, which are further defined in Article 8.

  • Stage 1 means the area at Port Xxxxxxx which is the subject of this Agreement and of the ERMP and which is shown bordered in purple as “stage 1” on Department of Land Administration 4 Miscellaneous Plan No. 1743;

  • Budget year means the financial year of the municipality for which an annual budget is to be approved in terms of section 16(1) of the MFMA;

  • Model Year means the CI engine manufacturer’s annual production period, which includes January 1st of a calendar year, or if the manufacturer has no annual production period, the calendar year.

  • Project Year means the 12 month period beginning from the Effective Date and ending 12 months thereafter and each successive 12 month period following thereafter;

  • Phase or “Phases” in respect of the Project shall mean that the components of the Project are placed in service during more than one year during the Investment Period, and the word “Phase” shall therefore refer to the applicable portion of the Project placed in service in a given year during the Investment Period.

  • Year 3 means the tax year preceding the current tax year.

  • Phase III means Phase I (or Phase I/II), Phase II (or Phase II/III) and Phase III clinical trials, respectively, in each case as prescribed by applicable FDA IND Regulations, or any corresponding foreign statutes, rules or regulations.

  • Cost Share means the member’s financial obligation for a covered service. Depending on the plan type, cost-share may include one or more of the following: deductible, copay, access fee, coinsurance, pharmacy deductible, and precertification charges.

  • Commencement of Commercial Production means the first occurrence of Commercial Production in an Area.

  • Commercial Operation means the condition of operation in which the complete equipment covered under the Contract is officially declared by the Owner to be available for continuous operation at different loads up to and including rated capacity. Such declaration by the Owner, however, shall not relieve or prejudice the Contractor of any of his obligations under the Contract.

  • Commercial Launch means the first commercial sale in the Territory of the Product by Par, its Affiliate or a permitted sublicensee, as the case may be, to a Third Party.

  • Study Completion means the database for the Study has been locked and all Essential Documents have been provided to the Sponsor, including a copy of the letter from the Reviewing HREC acknowledging receipt of the final report and/or closure letter from the Principal Investigator.