Common use of CONTRACT LOANS Clause in Contracts

CONTRACT LOANS. If your Contract is issued under a Qualified Plan under Code Section 401 or 403 and your Qualified Plan permits, you may request a loan of a portion of your Contract Value after your first Contract Year and before your Annuity Date. If your Contract is a Non-Qualified Contract, or if your Qualified Plan does not permit loans, loans under this Contract will not be available to you.

Appears in 5 contracts

Sources: Individual Flexible Premium Deferred Variable Annuity Contract (Separate Account a of Pm Group Life Insurance Co), Individual Flexible Premium Deferred Variable Annuity Contract (Separate Account a of Pacific Life & Annuity Co), Individual Flexible Premium Variable Accumulation Annuity Contract (Separate Account B of Pacific Mutual Life Insurance Co)