OPTION E. Annuity We will use the benefit as a single payment to buy an annuity. The annuity may be payable to one or two payees. It may be payable for life with or without a guaranteed period, as requested. The annuity payment will not be less than what our current annuity Contracts are then paying. General The payee may arrange any other method of benefit as long as we agree to it. The payee must be an individual receiving payment in his or her own right. There must be at least $10,000 available for any option and the amount of each installment to each payee must be at least $100. If the benefit amount is not enough to meet these requirements, we will pay the benefit in a lump sum.
OPTION E. LIFETIME MONTHLY We will pay a benefit jointly to two payees during BENEFITS FOR TWO PAYEES their joint lifetime. (TABLE E) After one payee dies, the benefits to the survivor will be: - the same as the original amount, or - in an amount equal to 2/3 of the original amount. FORM 1030-96 26 Benefits are based on the payees' ages on the date the first payment is due. Benefits will end when the second payee dies.
OPTION E. A fixed payout annuity payable monthly while the INSTALLMENT REFUND Annuitant is living or, if later, the date the LIFE ANNUITY annuity payments made under this option total an amount which refunds the entire amount applied under this D602 20
Examples of OPTION E in a sentence
OPTION E - INSTALLMENT REFUND LIFE ANNUITY A fixed payout annuity payable monthly while the Annuitant is living.
OPTION E, JOINT AND SURVIVOR LIFE INCOME WITH GUARANTEED PERIOD: We will make annuity benefit payments for the longer of the lifetime of the Joint Annuitants or a guaranteed period that You select.
OPTION E TABLE Minimum Monthly Joint and Survivor Life Income for Each $1,000 Applied.
OPTION E A commercial annuity in the form of a single life annuity for the life of such Participant.
AP MOTION # 7: STATUS QUO ON RECREATIONAL MANAGEMENT CHANGES [INTENT TO REEXAMINE AFTER A YEAR WHEN POTENTIAL EFFORT SHIFT FROM SNAPPER GROUPER COULD TAKE PLACE]APPROVED BY AP AP MOTION #8: REDUCE THE COMERCIAL KING MACKEREL MINIMUM SIZE LIMIT FROM 24” TO 22” FORK LENGTHAPPROVE BY AP MOTION: DELETE OPTIONS A & B AND ADD OPTION E.
More Definitions of OPTION E
OPTION E. A fixed payout annuity payable monthly INSTALLMENT REFUND while the Annuitant is living or, if later, LIFE ANNUITY the date the annuity payments made under this option total an amount which refunds the entire amount applied under this option. If the Annuitant is not living when the final payment falls due, that payment will be limited to the amount which needs to be added to the payments already made to equal the entire amount applied under this option. OPTION F - A fixed payout annuity payable monthly JOINT AND SURVIVORSHIP while either the Annuitant or designated LIFE ANNUITY WITH Joint Annuitant is living, or if later, the 10-YEAR PERIOD CERTAIN end of 10 years. The designated Joint Annuitant must be designated at the time this option is elected and must have an adjusted age of at least 40 years. The adjusted age is the person's age on his or her birthday nearest the settlement date. OPTION G - Equal income installments for a specified PAYMENTS FOR A period of years are paid whether the payee SPECIFIED PERIOD lives or dies. The period certain specified must be in whole numbers of years from 5 to 30. OPTION H - Equal income installments of a specified PAYMENTS OF A amount are paid until the principal sum SPECIFIED AMOUNT remaining under this option from the amount applied is less than the amount of the installment. When that happens, the principal sum remaining will be paid as a final payment. The amount specified must provide for payments for a period of at least 5 years.
OPTION E. A fixed payout annuity payable monthly while the INSTALLMENT REFUND Annuitant is living or, if later, the date the LIFE ANNUITY annuity payments made under this option total an amount which refunds the entire amount applied under this option. If the Annuitant is not living when the final payment falls due, that payment will be limited to the amount which needs to be added to the payments already made to equal the entire amount applied under this option. OPTION F - A fixed payout annuity payable monthly while JOINT AND SURVIVORSHIP either the Annuitant or designated Joint LIFE ANNUITY WITH Annuitant is living, or if later, the end of 10 10-YEAR PERIOD CERTAIN years. The designated Joint Annuitant must be designated at the time this option is elected and must have an adjusted age of at least 40 years. The adjusted age is the person's age on his or her birthday nearest the settlement date.
OPTION E. LIFETIME We will pay a benefit jointly to two payees during MONTHLY BENEFITS FOR TWO their joint lifetime. PAYEES (TABLE E) After one payee dies, the benefits to the survivor will be: - the same as the original amount, or - in an amount equal to 2/3 of the original amount. Form 1030-96 26 Benefits are based on the payees' ages on the date the first payment is due. Benefits will end when the second payee dies. SELECTING BENEFIT The amount we apply under any one option for any OPTIONS one payee must be at least $5,000, and the periodic payment for any one payee must be at least $50. You may change any option you select before the net death benefit is paid, subject to the Owner and Beneficiary provisions. If you make no selection, the beneficiary may choose an option when the benefits become payable. If the amount of monthly income benefits under Option B for the age of the payee is the same for different periods certain, the payee will be entitled to the longest period certain for the payee's age. You may give the beneficiary the right to change from Option C or D to any other option at any time. If Option C or D is chosen by the payee when this contract becomes a claim, the payee may reserve the right to change to any other option. The payee who elects to change options must be the payee under the option selected. ADDITIONAL DEPOSITS An additional deposit may be added to any proceeds when they are applied under Option B and E. We reserve the right to limit the amount of any additional deposit. We may levy a charge of no more than 3% on any additional deposits. RIGHTS AND LIMITATIONS A payee has no right to assign any amount payable under any option, nor to demand a lump sum benefit in place of any amount payable under Options B or E. A payee will have the right to receive a lump sum in place of installments under Option A. The payee must provide us with a Written Request to reserve this right. If the right to receive a lump sum is exercised, we will determine the lump sum benefit at the same interest rates used to calculate the installments. The amount left under Option C and any unpaid balance under Option D, may be withdrawn only as noted in the Written Request selecting the option. A corporate or fiduciary payee may select only Option A, C or D, subject to our approval.
OPTION E. Monthly Installment For Joint and Full Survivor
OPTION E. Ownership of Intellectual Property with a One-Time Upfront Fee
OPTION E. The Completion Date has occurred and the Equity Contributor has failed to make an Equity Contribution as required by Section 2(b)(iv) of the Equity Contribution Agreement."
OPTION E means the GGL Option described in Section 2.4.8.”