Period Certain Only definition

Period Certain Only. Periodic payments are made to the designated payee during the Annuitant's lifetime, with payments guaranteed for a specified period. You may choose to have payments guaranteed 5 through 30 years (in full years only). If the Annuitant dies before the guaranteed payments are completed, we pay to the Owner the remainder of the guaranteed payments. Additionally, if variable payments are elected under this option, you may redeem all remaining guaranteed variable payments after the Annuity Date. The amount available upon such redemption would be the present value of any remaining guaranteed variable payments at the assumed investment return. That is, the present value will be reduced by the amount needed to produce withdrawal proceeds equal to the amount of the annuity payment.
View Source
Period Certain Only. Periodic payments are made to the designated payee during the Annuitant's lifetime, with payments guaranteed for a specified period. You may choose to have payments guaranteed 7 through 30 years (in full years only). If the Annuitant dies before the guaranteed payments are completed, we pay to the Owner the remainder of the guaranteed payments. Additionally, if variable payments are elected under this option, you may redeem all remaining guaranteed variable payments after the Annuity Date. The amount available upon such redemption would be the present value of any remaining guaranteed variable payments at the assumed investment return. Any applicable withdrawal charge will be deducted from the present value as if you terminated the Contract. For purposes of calculating the withdrawal charge, annuity payments made prior to redemption will be treated as withdrawals. That is, the present value will be reduced by the amount needed to produce withdrawal proceeds equal to the amount of the annuity payment.
View Source
Period Certain Only. Periodic payments are made to the designated payee during the Annuitant's lifetime, with payments guaranteed for a specified period. You may choose to have payments guaranteed 5 through 30 years (in full years only). If the Annuitant dies before the guaranteed payments are completed, we pay to the Owner the remainder of the guaranteed payments. Additionally, if variable payments are elected under this option, you may redeem all remaining guaranteed variable payments after the Annuity Date. The amount available upon such redemption would be the present value of any remaining guaranteed variable payments at the assumed investment return. Any applicable withdrawal charge will be deducted from the present value as if you terminated the Contract. For purposes of calculating the withdrawal charge, annuity payments will be treated as withdrawals.
View Source

Examples of Period Certain Only in a sentence

  • If you do not choose the Period Certain Only Option, the amount will depend on the Age of the Annuitant(s), the Annuity Date, and the sex of the Annuitant(s), unless unisex factors apply.

  • If you elect annuity payments for a Period Certain Only, we also reserve the right to reduce the Period Certain to meet the $250 minimum first payment.

  • If you do not choose the Period Certain Only Option, the amount will depend on the Age of the Annuitant(s), the Annuity Date, and the sex of the Annuitant(s).

  • If you elect annuity payments for a Period Certain Only, we also reserve the right to reduce the Period Certain to meet the first payment Minimum Annuity Payment as shown in the Contract Specifications.

  • If you elect annuity payments for a Period Certain Only, we also reserve the right to reduce the Period Certain to meet the Minimum Annuity Payment as shown in the Contract Specifications.

  • If you do not choose the Period Certain Only Option, the amount will depend on the Age of the Annuitant(s), the Annuity Date, and the Gender of the Annuitant(s), unless unisex factors apply.

  • If you do not choose the Period Certain Only Option, the payment amount will depend on the Age of the Annuitant(s), the Annuity Date, and the sex of the Annuitant(s).

  • If you elect annuity payments for a Period Certain Only, we reserve the right to also reduce the Period Certain to meet the $250 minimum first payment.

  • Period Certain Only – Periodic annuitization payments are made for the specified period.* Commutation Option – Only available for Variable Annuity Payments on Non-Qualified Contracts with a Period Certain Option.

  • Period Certain Only – Periodic annuity payments are made for the specified period.* Commutation Option – Only available for Variable Annuity Payments with a Period Certain Option.

Related to Period Certain Only

  • Period of Affordability means the time during which HOME Loan financed units must remain affordable to eligible households, as defined by HOME program regulations and this Plan. The Period of Affordability shall commence upon completion of the project and shall run for the period required under HOME regulations or the term of the HOME Loan, whichever is greater. Completion shall be defined as set forth in the HUD regulations for the HOME program.

  • Period 2 Two hundred eleven (211) days to one year after the Effective Date.

  • Medically necessary leave of absence means any change in enrollment at the post-secondary school that begins while the child is suffering from a serious illness or injury, is medically necessary, and causes the child to lose student status for purposes of coverage under the Plan.

  • Leave of absence with pay means to be absent from duty with permission and with pay.

  • Business Week means five consecutive Business Days, excluding Public Holidays as defined in the Public Holidays Act;