Payout Phase Defined The definition
Payout Phase Defined The. Payout Phase" is the second of the two phases during your Contract. The Payout Phase begins on the Payout Start Date. It continues until we make the last payment as provided by the Income Plan(s) chosen. Payout Start Date The "Payout Start Date" is the date the Contract Value adjusted by any Market Value Adjustment and less any applicable taxes is applied to an Income Plan. The anticipated Payout Start Date is shown on the Annuity Data Page. You may change the Payout Start Date by writing to us at least 30 days prior to this date. The anticipated Payout Start Date is the later of: * the Annuitant's 99th birthday; or * the 10th anniversary of the Issue Date.
Payout Phase Defined The. Payout Phase" is the second of the two phases during your Contract. The Payout Phase begins on the Payout Start Date. It continues until we make the last payment as provided by the Income Plan(s) chosen. This phase of the Contract will not begin until specifically elected, however, if you terminate the Contract during the Accumulation Phase, the Payout Phase will not commence. During this phase the Contract Value, less any applicable taxes, will be applied to the Income Plan you choose and will be paid out as provided in that plan. Payout Start Date The "Payout Start Date" is the date the Contract Value less any applicable taxes is applied to an Income Plan. The latest Payout Start Date allowed is shown on the Annuity Data Page. You may change the Payout Start Date by writing to us at least 30 days prior to this date. The Payout Start Date must be at least 30 days after the Issue Date, and occur on or before the later of: o the Annuitant's 90th birthday; or o the 10th anniversary of this Contract's issue date.
Payout Phase Defined The. Payout Phase" is the second of the two phases during your Contract. During this phase the Contract Value adjusted by any Market Value Adjustment and less any applicable taxes is applied to the Income Plan you choose and is paid out as provided in that plan. The Payout Phase begins on the Payout Start Date. It continues until we make the last payment as provided by the Income Plan chosen. Payout Start Date The "Payout Start Date" is the date the Contract Value adjusted by any Market Value Adjustment and less any applicable taxes is applied to an Income Plan. The anticipated Payout Start Date is shown on the Annuity Data Page. You may change the Payout Start Date by writing to us at least 30 days prior to this date. The Payout Start Date must be at least 30 days after the Issue Date, and occur on or before the later of:
Examples of Payout Phase Defined The in a sentence
Payout Phase Defined The "Payout Phase" is the second of the two phases during your Contract.