Settlement Options definition

Settlement Options. An Annuity may be issued in any of the forms described below, or such other forms which SAFECO agrees to issue under this Contract. Options (a), (b), and (c) are irrevocable once they have begun. Option
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Settlement Options means the annuitization options described under “Settlement Options” in Section IV of this contract. The Settlement Options available on the Contract Date are shown on the Specifications Pages.
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Settlement Options. All amounts payable under the Policy, including, but not limited to, Death Benefit Proceeds and any proceeds from any surrender, partial withdrawal or Policy loan will be paid in a lump sum unless the Owner elects by Request to have all or a portion of such amounts paid under a different settlement option that the Company may then be offering.
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Examples of Settlement Options in a sentence

  • A death benefit is also payable under those Settlement Options which provide for death benefits.

  • This Contract provides for payments under one of the Annuity or Settlement Options described below.

  • All Preselected Settlement Options are fixed settlement options, not variable.The Preselected Settlement Option form is not in effect until received in good order and recorded at Thrivent's service center.Contract proceeds must meet minimum issue limits in effect at the time of death for this Preselected Settlement Option to take effect.

  • ANNUITY AND SETTLEMENT OPTIONS: This Contract provides for payments under one of the Annuity or Settlement Options described below.

  • In lieu of a single sum payment on death or surrender, an election may be made to apply the amount under any one of the fixed benefit Settlement Options provided in the Policy.

  • Yes, if the Payee was to receive the proceeds in a single sum, the Payee may instead choose one of the Settlement Options for proceeds not yet paid.

  • Yes, if one of the Settlement Options described below is not elected, any death or surrender proceeds will be paid in a single sum.

  • Death Proceeds may also be applied to one of the Settlement Options offered under the Policy.

  • The proceeds may be paid in cash or under one of the Settlement Options set forth in the Policy.

  • For purposes of the Settlement Options below, the Beneficiary will be the Annuitant.


More Definitions of Settlement Options

Settlement Options are the methods of distribution described in the Settlement Options section of Your Contract. We may require proof of the correct age and gender of an Annuitant before making annuity payments. An election of a Settlement Option must be made in writing by the Owner and is irrevocable on or after the Annuity Date. If a Settlement Option has not been elected prior to the Annuity Date, one of the following two payment provisions will apply: • If there is one living Annuitant on the Annuity Date, the Interim Value of Your Contract will be applied to provide annuity payments for the longer of the lifetime of the Annuitant or five years; or RIA I (05/19) Page 5 RIA I (05/19) • If there are two living Joint Annuitants on the Annuity Date, the Interim Value of Your Contract will be applied to provide annuity payments in the same monthly amount for the longer of the lifetimes of both Joint Annuitants or five years.
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Related to Settlement Options

  • Investment Options means the investment options, as determined from time to time by the Committee, used to credit earnings, gains and losses on Account balances.

  • Replacement Options has the meaning ascribed thereto in Section 1.1 of the Plan of Arrangement;

  • Investment Option means any of the guaranteed investments and variable investment funds available under the Plan.

  • Phantom Shares means an Award of the right to receive Shares issued at the end of a Restricted Period which is granted pursuant to Section 6(e) of the Plan.

  • Settlement Funds means moneys allocated to this state from the environmental mitigation trust specified in par. (d) and received by the state from the trustee.

  • Settlement Fund means the Settlement Amount plus any and all interest earned thereon.

  • Parent Options means options or other rights to purchase shares of Parent Common Stock issued by Parent.

  • Over-Allotment Option means the option of the Underwriters to purchase up to an additional 15 per cent of the firm units (as described in the Articles) issued in the IPO at a price equal to US$10 per unit, less underwriting discounts and commissions.

  • Settlement Shares With respect to any Settlement Date, a number of Shares, not to exceed the Base Amount, designated as such by Party B in the related Settlement Notice or by Party A pursuant to “Termination Settlement” below; provided that on the Maturity Date the number of Settlement Shares shall be equal to the Base Amount on such date.

  • SARS means the South African Revenue Service.

  • Gross Settlement Fund means the Settlement Amount plus all interest earned thereon.

  • Deferred Shares means an award made pursuant to Section 7 of this Plan of the right to receive Common Shares at the end of a specified Deferral Period.

  • option-based award means an award under an equity incentive plan of options, including, for greater certainty, share options, share appreciation rights, and similar instruments that have option-like features;

  • DSUs means the outstanding deferred share units issued under the DSU Plan.

  • Purchase Contract Settlement Fund has the meaning specified in Section 5.5.

  • Settlement Method Election Date With respect to any Settlement of any Transaction, the 2nd Scheduled Trading Day immediately preceding (x) the Valuation Date for such Transaction, in the case of Physical Settlement, or (y) the First Unwind Date for such Transaction, in the case of Cash Settlement or Net Share Settlement.

  • Company Stock Options shall have the meaning given to such term in Section 3.3(a) hereof.

  • Replacement Option has the meaning ascribed thereto in Section 2.2(c).

  • Settlement Method means, with respect to any conversion of Notes, Physical Settlement, Cash Settlement or Combination Settlement, as elected (or deemed to have been elected) by the Company.

  • Rollover Options has the meaning provided in Subsection 3.1(h).

  • Dividend Equivalents means a right granted to a Participant under the Plan to receive the equivalent value (in cash or Shares) of dividends paid on Shares.

  • RSUs means restricted stock units.

  • Plan Shares means the total number of Common Shares which may be reserved for issuance as Optioned Shares under the Plan as provided in §2.2;

  • Share Units means the hypothetical Shares that are credited to the Share Unit Accounts in accordance with Section 5.3.

  • Performance Shares means Shares or an Award denominated in Shares which may be earned in whole or in part upon attainment of performance criteria established by the Administrator.

  • Phantom Stock means a right granted to an Eligible Individual under Section 12 representing a number of hypothetical Shares.