BEFORE THE ANNUITY COMMENCEMENT DATE Clause Samples

The "Before the Annuity Commencement Date" clause defines the rights, obligations, and conditions that apply to an annuity contract prior to the date when annuity payments are scheduled to begin. Typically, this clause outlines how premiums are handled, the accumulation of interest or investment returns, and the policyholder’s options such as surrender, withdrawals, or beneficiary changes during this pre-annuitization period. Its core practical function is to clarify the rules and available actions for both the insurer and the policyholder before regular annuity payouts commence, thereby ensuring transparency and managing expectations during the accumulation phase.
BEFORE THE ANNUITY COMMENCEMENT DATE. If the Annuitant dies before the Annuity Commencement Date, and is survived by a Contingent Annuitant, the Certificate will be continued with the Contingent Annuitant being named the Annuitant. If the Certificate is a Non-Qualified Contract, it may qualify for continuation under the "Death of the Participant Prior to the Annuity Date - Non-Qualified Contracts Only" provision Otherwise, death proceeds will be paid as follows (unless the Participant has specified in writing the death proceeds are to be paid in a different manner):
View SourceView Similar (2)
BEFORE THE ANNUITY COMMENCEMENT DATE. The Personal Pension Account Death Benefit shall become due and payable on the Valuation Day when We are notified that the Owner, Annuitant and Joint Annuitant have all become deceased. No Death Benefit shall therefore be payable upon the first death of the Owner, Annuitant or Joint Annuitant. Your Personal Pension Account Payouts, Guarantee Window, Payout Purchase Rates, and Credited Interest Rates will then continue to apply until the Death Benefit becomes payable. The Death Benefit will be the greater of (x) the Total Balance as of the Valuation Day when We are notified that the Owner, Annuitant and Joint Annuitant have all become deceased, or (y) the greatest Death Benefit payable under the Personal Pension Account Annuity Rider, as amended by this endorsement, and any other rider or endorsement then made part of this Contract as specified by Us. Payment of the Death Benefit will be subject to the restrictions contained in the “Distribution Requirements” section of the Contract. HL-PPA-JS-11 Page 3 Printed in U.S.A. Alternatively, You may notify Us In Writing following the first death of the Owner, Annuitant or Joint Annuitant that You desire to rescind and irrevocably waive spousal contract continuation rights and receive the Death Benefit payable under any settlement option made part of this Contract as specified by Us. The Death Benefit shall equal the greater of (x) Total Balance, or (y) the greatest Death Benefit payable under the Personal Pension Account Annuity Rider, as amended by this endorsement, and any other rider or endorsement then made part of this Contract as specified by Us. Total Balance shall be reduced to reflect Personal Pension Account Payouts received between the first death and the payment of the Death Benefit. Payment of the Death Benefit will be subject to the restrictions contained in the “Distribution Requirements” section of the Contract.
View Source
BEFORE THE ANNUITY COMMENCEMENT DATE. Entitlement
View Source
BEFORE THE ANNUITY COMMENCEMENT DATE. If the Annuitant is also the Owner or a Joint Owner, then the Death Benefit paid will be subject to the Contract provisions regarding death of the Owner. If the surviving spouse of the Owner/▇▇▇▇▇▇▇▇▇ assumes the Contract, the Contingent Annuitant becomes the Annuitant. If no Contingent Annuitant is named, the surviving spouse becomes the Annuitant. If an Annuitant who is not the Owner or Joint Owner dies, then the Contingent Annuitant, if any, becomes the Annuitant. If no Contingent Annuitant is named, the Owner (or the younger of the Joint Owners) becomes the Annuitant. ON OR AFTER THE ANNUITY COMMENCE-MENT DATE. On receipt of due proof of death, as described in Section 2.14, of the Annuitant or both Joint Annuitants, any remaining annuity benefit payments under the Annuity Payment Option will be paid to the Owner if living; otherwise, to the Beneficiary. If there is no Beneficiary, any remaining annuity benefit payments will continue to the estate of the Annuitant. Form 29266 Page 11
View Source
BEFORE THE ANNUITY COMMENCEMENT DATE. Personal Pension Account Payouts will terminate on the Valuation Day when We are notified of the death of any of the following contract parties: Owner, any joint Owner or Annuitant; whereupon the Death Benefit shall become due and payable. Your Benefit Balance may then be converted into Contract Value and transferred to the Money Market Fund or paid as a lump sum without commutation. Unless We agree otherwise, Contract Value may not be reallocated back into the Personal Pension Account. If the Contract is eligible to continue with the spouse as the Owner, and the Annuitant is still alive, the Benefit Balance may remain in the Personal Pension Account and no Death Benefit shall be payable until We are notified of the death of such spouse. The previously established Guarantee Window, Payout Purchase Rates, and Credited Interest Rates will then continue to apply. Alternatively, the spouse may elect to transfer the Benefit Balance to the Money Market Fund. If the Contract is eligible to continue with the spouse as the Owner, and the surviving spouse has replaced the deceased Annuitant, the Benefit Balance will be converted into Contract Value and transferred to the Money Market Fund. Commutation shall not apply to the conversion of Benefit Balance into Contract Value and transfer to the Money Market Fund following the death of the Owner, joint Owner or Annuitant.
View Source
BEFORE THE ANNUITY COMMENCEMENT DATE. If the Annuitant is also the Owner or a Joint Owner, then the Death Benefit paid will be subject to the Contract provisions regarding death of the Owner. If the surviving spouse of the Owner/▇▇▇▇▇▇▇▇▇ assumes the Contract, the Contingent Annuitant becomes the Annuitant. If no Contingent Annuitant is named, the surviving spouse becomes the Annuitant. If an Annuitant who is not the Owner or Joint Owner dies, the Contingent Annuitant, if any, becomes the Annuitant. If no Contingent Annuitant is named, the Owner (or the younger of the Joint Owners) becomes the Annuitant.
View Source

Related to BEFORE THE ANNUITY COMMENCEMENT DATE

  • Death of the Annuitant If the Annuitant is not an Owner and dies prior to the Annuity Date, Owner 1 will become the new Annuitant unless you designate otherwise. If any Owner is not an individual, we will treat the death of the Annuitant as the death of an Owner.

  • Term Commencement Date For purposes of this Lease, the "Term Commencement Date" shall be defined as the earlier of (A) the first date on which Tenant occupies all or any part of the Premises for the conduct of business, or (B) fourteen (14) days after the date on which both of the following shall occur: (i) Landlord's Work shall be (or be deemed to be) substantially completed (notwithstanding the incompleteness of (x) so-called "punch list" items, (y) work to be undertaken by Landlord which does not materially impair Tenant's use of the Premises for the purposes allowed herein, and (z) finishes and exterior landscaping to the Property), and (ii) a certificate of occupancy has been (or is deemed to have been) issued with respect to the Premises (or the building inspector has (or is deemed to have) provided a verbal "sign off" on Landlord's Work and indicated that a certificate of occupancy will issue in due course). If Tenant (or any agent, employee or contractor of Tenant) causes any delay in the performance or substantial completion of Landlord's Work (including, without limitation, by failing to timely prepare the Construction Drawings), then Landlord's Work shall be deemed to have been substantially completed on the date that Landlord's Work would have been substantially completed but for such delay, and the certificate of occupancy for the Premises (or building inspector "sign off" as aforesaid) shall be deemed to have been issued (or provided) on the date it would have been issued (or provided) but for such delay. Landlord shall use reasonable efforts to substantially complete Landlord's Work by the date (as the same may be modified by Landlord at or prior to the time of its approval of the Construction Drawings as provided in the second paragraph of Section 10.22, the "Estimated Substantial Completion Date") which is ninety (90) days after Landlord's final approval of the Construction Drawings, but Tenant shall not have any claim against Landlord, and Landlord shall have no liability to Tenant, if Landlord's Work is not substantially completed by the Estimated Substantial Completion Date. Notwithstanding the foregoing, if Landlord fails to substantially complete Landlord's Work on or before the date which is sixty (60) days after the Estimated Substantial Completion Date due to Landlord's fault or neglect, then Tenant shall be entitled to a credit (offset) against Base Rent due and payable as of the Term Commencement Date in the amount of one (1) day of Base Rent for each day after the Estimated Substantial Completion Date that Landlord's Work shall not have been substantially completed.

  • Rent Commencement Date The "Rent Commencement Date" shall be the date that Tenant first uses the Premises or any portion thereof for any purpose permitted under this lease. In the event this lease pertains to a building or building interior finish to be constructed, the "Rent Commencement Date" shall be the date upon which the buildings and other improvements erected and to be erected upon the premises shall have been substantially completed in accordance with the plans and specifications described on Exhibit "C" attached hereto and incorporated herein by reference, provided however, that if Landlord shall be delayed in such substantial completion as a result of: (i) Tenant's failure to agree to plans, specifications, and cost estimates, within a reasonable period of time; (ii) Tenant's request for materials, finishes or installations other than Landlord's standard; (iii) Tenant's changes in plans; the commencement date and the payment of rent hereunder shall be accelerated by the number of days of such delay, and provided further that if Landlord cannot substantially complete the premises as a result of any events (i) through (iii) above, Landlord may as its election complete so much of Landlord's work as may be practical under the circumstances and, by written notice to Tenant, establish the commencement date as the date of such partial completion, subject to any applicable accelerations due to delays resulting from events (i) through (iii) above. Taking possession by Tenant shall be deemed conclusively to establish that said buildings and other improvements have been completed in accordance with the plans and specifications and that the premises are in good and satisfactory condition, as of when possession was so taken. Tenant acknowledges that no representations as to the repair of the premises have been made by Landlord, unless such are expressly set forth in the lease. After such "Rent Commencement Date" Tenant shall, upon demand, execute and deliver to Landlord a letter of acceptance of delivery of the premises. In the event of any dispute as to substantial completion of work performed, execute or required to be performed by Landlord, the certificate of Landlord's architect or general contractor shall be conclusive.

  • Lease Commencement Date The earlier to occur of (i) the date upon which Tenant first commences to conduct business in the Premises, and (ii) the later to occur of (A) November 1, 2018 and (B) the date upon which the Premises are Ready for Occupancy (as that term is defined in Section 5.1 of the Tenant Work Letter attached hereto as Exhibit B (the “Tenant Work Letter”)).

  • Service Commencement Date The date the Transmission Provider begins to provide service pursuant to the terms of an executed Service Agreement, or the date the Transmission Provider begins to provide service in accordance with Section 15.3 or Section 29.1 under the Tariff.