Life with 10-Year Certain Sample Clauses

The "Life with 10-Year Certain" clause defines a payment option in annuity or pension contracts where the beneficiary receives regular payments for their lifetime, with a guarantee that payments will continue for at least 10 years even if the beneficiary passes away earlier. If the annuitant dies within the first 10 years, the remaining payments are made to a designated beneficiary for the rest of the 10-year period. This clause ensures that the annuitant or their heirs receive a minimum guaranteed payout, addressing concerns about losing benefits due to early death and providing financial security.
Life with 10-Year Certain. We will make Annuity Payments for 10 years and after that during the lifetime of the Annuitant. No payments are due after the death of the Annuitant or, if later, the end of the 10-year period.
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Related to Life with 10-Year Certain

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  • What Forms of Distribution Are Available from a ▇▇▇▇▇▇▇▇▇ Education Savings Account Distributions may be made as a lump sum of the entire account, or distributions of a portion of the account may be made as requested.

  • Fixed Annuity An Annuity with payments which do not vary in amount.

  • Life Annuity In addition to the rules imposed by the Act, a life annuity purchased with the property of the Plan must comply with Pension Legislation and must be established for the Annuitant’s life. However, if the Annuitant has a Spouse on the date payments under the life annuity begin, the life annuity must be established for the lives jointly of the Annuitant and the Annuitant’s Spouse, unless the Spouse has provided a waiver in the form and manner required by Pension Legislation. Where the surviving Spouse is entitled to payments under the life annuity after the Annuitant’s death, those payments must be at least 60 percent of the amount to which the Annuitant was entitled prior to the Annuitant’s death. The life annuity may not differentiate based on gender except to the extent permitted by Pension Legislation.

  • Public Benefit It is ▇▇▇▇▇▇▇'s understanding that the commitments it has agreed to herein, and actions to be taken by Praeger under this Settlement Agreement confer a significant benefit to the general public, as set forth in Code of Civil Procedure § 1021.5 and Cal. Admin. Code tit. 11, § 3201. As such, it is the intent of ▇▇▇▇▇▇▇ that to the extent any other private party serves a notice and/or initiates an action alleging a violation of Proposition 65 with respect to Praeger's alleged failure to provide a warning concerning actual or alleged exposure to cadmium prior to use of the Covered Products it has manufactured, distributed, sold, or offered for sale in California, or will manufacture, distribute, sell, or offer for sale in California, such private party action would not confer a significant benefit on the general public as to those Covered Products addressed in this Settlement Agreement, provided that Praeger is in material compliance with this Settlement Agreement.