Common use of Payment Rate Tables Clause in Contracts

Payment Rate Tables. The guaranteed monthly payment rates for both a fixed payment plan and the first payment under a variable payment plan are shown in the Payment Rate Tables. The tables show rates for the Installment Income Plan for a Specified Period (Option B) and Life Income Plans (Option C or E). Life Income Plan rates are based on the adjusted age of any individual upon whose life payments depend. The adjusted age is: - the age on the birthday that is nearest to the date on which the payment plan takes effect; plus - the age adjustment shown below for the number of contract years that have elapsed from the Contract Date to the date that the payment plan takes effect. A part of a contract year is counted as a full year. -------------------------------------------------------------------------------- CONTRACT CONTRACT YEARS AGE YEARS AGE ELAPSED ADJUSTMENT ELAPSED ADJUSTMENT -------------------------------------------------------------------------------- 1 to 8 0 33 to 40 -4 9 to -1 41 to 48 -5 17 to 24 -2 49 or more -6 25 to 32 -3 --------------------------------------------------------------------------------

Payment Rate Tables. The guaranteed monthly payment rates for both a fixed payment plan and the first payment under a variable payment plan are shown in the Payment Rate Tables. The tables show rates for the Installment Income Plan for a Specified Period (Option B) and Life Income Plans (Option C or E). Life Income Plan rates are based on the adjusted age of any individual upon whose life payments depend. The adjusted age is: - o the age on the birthday that is nearest to the date on which the payment plan takes effect; plus - o the age adjustment shown below for the number of contract years that have elapsed from the Contract Date to the date that the payment plan takes effect. A part of a contract year is counted as a full year. -------------------------------------------------------------------------------- CONTRACT CONTRACT YEARS AGE YEARS AGE ELAPSED ADJUSTMENT ELAPSED ADJUSTMENT -------------------------------------------------------------------------------- 1 to 8 0 33 to 40 -4 9 to -1 41 to 48 -5 17 to 24 -2 49 or more -6 25 to 32 -3 --------------------------------------------------------------------------------