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 Specified Period (Option B) and for the Life Income Plans (Option C or E). Life Income Plan rates are based on the adjusted age of any individual on 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.

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 for the Life Income Plans (Option C or E). Life Income Plan rates are based on the adjusted age of any individual on 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.