Common use of TRANSFER BETWEEN VARIABLE PAYMENT PLANS Clause in Contracts

TRANSFER BETWEEN VARIABLE PAYMENT PLANS. A payee or the joint payees receiving payments under this contract may: a. transfer Annuity Units from one Division to another, subject to any changes as the Company may determine. The number of Annuity Units in each Division will be adjusted to reflect the respective value of the Annuity Units in the Division. Transfers from the Money Market Division may be made at any time. No transfers from the other Divisions may be made within 90 days of the Contract Date or within 90 days from the effective date of the last transfer; or b. transfer from an Installment Income Plan (Option B) to either form of the Life Income Plan (Option C or E). Other transfers may be permitted subject to limitations and conditions as the Company may reasonably determine. The effective date of transfer will be the valuation date coincident with or next following the date on which a satisfactory transfer request is received at the Home Office, or a later date if requested.