INTRODUCTION TO THIS CONTRACT Sample Clauses

The 'Introduction to This Contract' clause serves to provide an overview of the agreement, outlining its purpose, the parties involved, and the general scope of the contractual relationship. Typically, this section sets the context by summarizing what the contract covers, such as the type of services or goods exchanged, and may identify the effective date and key definitions. Its core practical function is to ensure that all parties have a clear, shared understanding of the contract’s intent and framework from the outset, reducing the risk of misunderstandings later on.
INTRODUCTION TO THIS CONTRACT. THE CONTRACT This is a legal Contract between you and us. We provide benefits as stated in this Contract. In return, you supply us with the Initial premium payment required to put this Contract in effect. This Contract, together with any Riders or Endorsements, constitutes the entire Contract. Riders and Endorsements add provisions or change the terms of the basic Contract. THE OWNER
View SourceView Similar (4)
INTRODUCTION TO THIS CONTRACT. The Contract The Owner The Annuitant The Beneficiary Change of Owner or Beneficiary PREMIUM PAYMENTS AND ALLOCATION CHANGES ............. 6
View SourceView Similar (2)
INTRODUCTION TO THIS CONTRACT. The Certificate Owner The Annuitant The Beneficiary Change of Certificate Owner or Beneficiary
View SourceView Similar (2)
INTRODUCTION TO THIS CONTRACT. The Contract This is a legal Contract between you and us. We provide benefits as stated in this Contract. In return, you supply us with the Initial Premium payment required to put this Contract in effect. This Contract, together with any attached Application, Riders or Endorsements, constitutes the entire Contract. Riders and Endorsements add provisions or change the terms of the basic Contract. Riders and Endorsements added to comply with applicable tax law do not require your consent, but are subject to regulatory approval. All statements made by or with the authority of the applicant(s) for this Contract shall be deemed to be representations and not warranties. The Owner You are the Owner of this Contract. You are also the Annuitant unless another Annuitant has been named by you and is shown in the Schedule. You have the rights and options described in this Contract, including but not limited to the right to receive the Annuity Benefits on the Annuity Commencement Date. One or more people may own this Contract. If there are multiple Owners named, the age of the oldest Owner will be used to determine the applicable Death Benefit. In the case of a sole Owner who dies prior to the Annuity Commencement Date, we will pay the Beneficiary the Death Benefit then due. If the sole Owner is not an individual, we will treat the Annuitant as Owner for the purpose of determining when the Owner dies under the Death Benefit provision (if there is no Contingent Annuitant), and the Annuitant’s age will determine the applicable Death Benefit payable to the Beneficiary. The sole Owner’s estate will be the Beneficiary if no Beneficiary designation is in effect, or if the Designated Beneficiary has predeceased the Owner. In the case of a joint Owner dying prior to the Annuity Commencement Date, the surviving Owner(s) will be deemed to be the Beneficiary(ies) and any other Beneficiary(ies) on record will be treated as the Contingent Beneficiary(ies). The Annuitant The Annuitant is the measuring life of the Annuity Benefits provided under this Contract. The Annuitant must be a natural person. You may name a Contingent Annuitant. The Annuitant may not be changed during the Annuitant’s lifetime. If the Annuitant dies prior to the Annuity Commencement Date, the Contingent Annuitant becomes the Annuitant. If no Contingent Annuitant has been named, we will allow you sixty days to designate someone other than yourself as the Annuitant. You will be the Contingent Annuitant unless you...
View Source
INTRODUCTION TO THIS CONTRACT. The Owner The Annuitant The Beneficiary
View Source

Related to INTRODUCTION TO THIS CONTRACT

  • Parties to this Agreement This is an agreement for indemnity reinsurance solely between the Company and the Reinsurer. The performance of the obligations of each Party under this Agreement shall be rendered solely to the other Party. The acceptance of risks under this Agreement shall create no right or legal relationship between the Reinsurer and the insured, owner or beneficiary of any insurance policy or other contract of the Company.

  • Amendment to this Agreement No provision of this Agreement may be changed, discharged or terminated orally, but only by an instrument in writing signed by the party against which enforcement of the change, discharge or termination is sought.

  • Changes to this Agreement We may make changes to this Agreement from time to time on the basis that you are able to end the Agreement without charge by us.

  • Modifications to this Agreement This Agreement constitutes the entire understanding of the parties on the subjects covered. Employee expressly warrants that he or she is not accepting this Agreement in reliance on any promises, representations, or inducements other than those contained herein. Modifications to this Agreement or the Plan can be made only in an express written contract executed by a duly authorized officer of the Company.

  • Amendments to this Agreement This Agreement may only be amended by the parties in writing.