Single Life Contract definition
Single Life Contract means a Contract that is issued without either (i) a Successor Owner for a Contract where the Owner is an individual, or (ii) a Joint Annuitant for a Contract where the Owner is a Non-Natural Owner.
Single Life Contract means a contract that is issued without a Successor Owner.
Single Life Contract means a contract that is issued without a Successor Owner and without a Joint Annuitant.
Examples of Single Life Contract in a sentence
An Excess Withdrawal occurs when either: (i) in a Single Life Contract you make a withdrawal before reaching age [59 1/2] (or in a Joint Life Contract you make a withdrawal before the younger individual reaches age [59 1/2]), or (ii) you withdraw more than your Guaranteed Annual Payment amount in any Contract Year.
A Contract with no Successor Owner named in the Data Pages is a Single Life Contract.
More Definitions of Single Life Contract
Single Life Contract means a contract that is issued without either (i) for a Contract where the Owner is an individual, a Successor Owner [NQ only: or Joint Owner], or (ii) for a Contract where the Owner is a Non-Natural Owner, a Joint Annuitant. NQ ONLY: [A Single Life Contract where the Contract is individually owned and there is not a Successor Owner nor a Joint Owner may be issued with a Joint Annuitant.]
Single Life Contract means a Contract under which withdrawals are guaranteed during your life.