FIXED ANNUITIZATION. A series of periodic income payments of predetermined amounts that do not vary with investment experience. Such payments are made from the Company's general asset account. This Contract provides several fixed annuity payment options. GUARANTEE PERIOD The period for which interest is credited to amounts allocated to any available Fixed Account Options. We determine in Our sole discretion the periods, if any, that will be offered. IRC The Internal Revenue Code of 1986, as it may be amended or superseded. JOINT OWNER Any person named as Joint Owner on the Application and listed on the Contract Data Page, unless subsequently changed. The Joint Owner, if any, possesses an undivided interest in this Contract in conjunction with the Owner. All references within this Contract to Owner will also apply to the Joint Owner. LATEST ANNUITY DATE The later of the Owner's 90th birthday or ten years after the Contract Date. If the Owner is a non-natural person, the Latest Annuity Date is the later of the Annuitant's 90th birthday or ten years after the Contract Date. NET PURCHASE PAYMENT The sum of all Purchase Payment(s), reduced for each Withdrawal in the same proportion that the Contract Value is reduced by such Withdrawal. NYSE New York Stock Exchange.
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FIXED ANNUITIZATION. A series of periodic income payments of predetermined amounts that do not vary with investment experience. Such payments are made from the Company's general asset account. This Contract provides several fixed annuity payment options. GUARANTEE PERIOD The period for which interest is credited to amounts allocated to any available Fixed Account Options. We determine in Our sole discretion the periods, if any, that will be offered. IRC The Internal Revenue Code of 1986, as it may be amended or superseded. JOINT OWNER Any person named as Joint Owner on the Application or confirmation thereof and listed on the Contract Data Page, unless subsequently changed. The Joint Owner, if any, possesses an undivided interest in this Contract in conjunction with the Owner. All references within this Contract to Owner will also apply to the Joint Owner. We reserve Our right to require that Joint Owners be each others' spouse. AS-981 (5/06) LATEST ANNUITY DATE The later of the Owner's 90th [95th birthday or ten years after the Contract Date]. If the Owner is a non-natural person, the Latest Annuity Date is the later of the Annuitant's 90th [95th birthday or ten years after the Contract Date]. MULTI-YEAR FIXED ACCOUNT OPTIONS If available, Fixed Accounts for a Guarantee Period of at least two (2) years. NET PURCHASE PAYMENT The sum of all Purchase Payment(s), reduced for each Withdrawal in the same proportion that the Contract Value is reduced by each such Withdrawal. NYSE New York Stock Exchange.
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