Examples of Payment Percentage in a sentence
Beginning on the next Rider Anniversary, the Lifetime Payment Percentage can change on each Valuation Date as described above until a Withdrawal is taken in that contract year.
If You do not select a payment option above, the remaining benefit will be paid as an amount based on the Protected Income Payment Percentage.
Otherwise, the Lifetime Payment Percentage will equal the Minimum Lifetime Payment Percentage for Your current Age Band.
Except as noted below, if the Covered Person’s new Attained Age is in a higher Age Band, then the higher Age Band will be used to determine the appropriate Lifetime Payment Percentage.
If the ALP is not established, the BB on the date of death multiplied by the Lifetime Payment Percentage will be paid annually until total payments to the beneficiary are equal to the PBG.