Common use of Rollover Option Clause in Contracts

Rollover Option. If all or part of a lump sum under Section 6.2.1 is used within 30 days as the purchase payment for a new contract issued to the Annuitant's Beneficiary on the same form as this contract, then the new contract will be deemed a continuation, of this contract in computing withdrawal charges under the new contract.

Rollover Option. If all or part of a lump sum payment under Section 6.2.1 6.1.1 is used within 30 days as the purchase payment premium for a new contract issued to the AnnuitantOwner's Beneficiary on the same form as this contract, then the new contract will be deemed a continuation, continuation of this contract in computing withdrawal charges under the new contract.