Plan Selection. You may select the plan or change to another plan by Written Request, or other method agreed to by Us, at least 30 Days before the Annuitization Start Date. If We have not received Your Written Request to select a plan, the first annuity payment will be made 30 Days after the Annuitization Start Date according to Plan B with monthly payments guaranteed for ten years. If the plan selected has a payment amount that is the same as another plan having a longer guarantee period, then the plan with the longer guarantee period will be deemed to have been chosen. After the Annuitization Start Date, You cannot change to a different plan. If Your Contract Value is less than $2,000 or would not provide an initial monthly payment of at least $20, We have the right to make a lump sum payment of the Contract Value after any rider charges are deducted from the Variable Account.
Appears in 3 contracts
Sources: Deferred Annuity Contract (Riversource of New York Variable Annuity Account), Deferred Annuity Contract (Riversource of New York Variable Annuity Account), Deferred Annuity Contract (Riversource of New York Variable Annuity Account)