First Variable Annuity Payment definition

First Variable Annuity Payment. The dollar amount of the first variable annuity payment is the sum of the payments from each Sub-account determined by applying the contract value used to purchase variable annuity payments, as of the 15th day of the preceding month, to the Variable Annuity Purchase Rate Table of this Contract. If the NYSE is not open on that date, the calculation will be made on the next day that the NYSE is open. If premium taxes are required by state law, these taxes will be deducted before the annuity payment is calculated.
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First Variable Annuity Payment. The Annuitized Value will be applied to the Table for the Annuity Option chosen. The Tables show the amount of the first Annuity Payment for each $1,000 applied, based on the Annuitant's age and sex where appropriate at the Annuity Date. [The Tables are based on the 1983 Table 'a' for Individual Annuity Valuation with a projection scale G and an assumed investment return of 2.5% if the Annuity Date is prior to the 9th Certificate Anniversary and 3% for Annuity Dates on or after the 9th Certificate Anniversary.] Other assumed investment return rates may be made available in the future. NUMBER OF ANNUITY UNITS: The number of Annuity Units for a Division is:
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First Variable Annuity Payment. For each Portfolio, the dollar amount of the first variable annuity payment and the number of Annuity Units will be calculated by applying your contract value in that Portfolio, as of the 15th day of the preceding month, to the Variable Annuity Purchase Rate Table of this Contract. If the NYSE is not open on that date, the calculation will be made on the next day that the NYSE is open. If premium taxes are required by state law, these taxes will be deducted from the Portfolio before the annuity payment is calculated. The total of the first variable annuity payment will be sum of the amounts calculated for each Portfolio.
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Examples of First Variable Annuity Payment in a sentence

  • The Table of First Variable Annuity Payment Factors shows the amount of the variable portion of the first monthly annuity payment provided on the first page of this contract and under Option A(Variable) and Option B(Variable) for each $1,000 applied.

  • Determination of First Variable Annuity Payment At annuitization, the variable account contract value will be applied to the applicable Annuity Rates Table.

  • First Variable Annuity Payment: The dollar amount of the first variable annuity payment is the sum of the payments from each Sub-account determined by applying the contract value used to purchase variable annuity payments, as of the 15th day of the preceding month, to the Variable Annuity Purchase Rate Table of this Contract.

  • Refer to the Determination of the First Variable Annuity Payment and Variable Annuity Payments After the First Payment provisions for additional detail.

  • Pages 20-21 Annuity Payment Change of Annuitization Start Date Annuity Payment Plans Plan Selection Allocation of Contract Values to Provide Fixed and Variable Payments Fixed Annuity Payments Variable Annuity Payments Determination of the First Variable Annuity Payment Variable Annuity Payments After the First Payment Exchange of Annuity Units TABLES OF ANNUITY PAYOUT RATES....................................

  • Pages 17-18 Annuity Payment Change of Annuitization Start Date Annuity Payment Plans Plan Selection Allocation of Contract Values to Provide Fixed and Variable Payments Fixed Annuity Payments Variable Annuity Payments Determination of the First Variable Annuity Payment Variable Annuity Payments After the First Payment Exchange of Annuity Units TABLES OF ANNUITY PAYOUT RATES....................................

  • The Table of First Variable Annuity Payment Factors in this Section 14 shows the amount of the first monthly annuity payment under Option A and Option B for each $1,000 applied.

  • The Table of First Variable Annuity Payment Factors shows the amount of the variable portion of the first monthly annuity payment provided on the first page of the certificate and under Option A(Variable) and Option B(Variable) for each $1,000 applied.

  • Annuity Provisions (Continued) Determination of First Variable Annuity Payment At annuitization, the variable account contract value will be applied to the applicable Annuity Rates Table.

  • Determination of the First Variable Annuity Payment At annuitization, the variable account contract value will be applied to the applicable Annuity Table.

Related to First Variable Annuity Payment

  • life annuity means an annuity payable under a policy issued to an SRS member for a term ending with, or at a time ascertainable only by reference to, the end of his life;

  • Projected Annual Benefit means the Annual Benefit as defined in subsection (2) above, to which the Participant would be entitled under the terms of the Plan assuming: (A) the Participant will continue employment until the Normal Retirement Date under the Plan (or current date,if later) and (B) the Participant's Compensation for the current Limitation Year and all other relevant factors used to determine benefits under the Plan will remain constant for all future Limitation Years.

  • Capitation Payment means a payment the STATE makes periodically to the MCO for each Enrollee covered under the Contract for the provision of services as defined in Article 6 regardless of whether the Enrollee receives these services during the period covered by the payment.

  • Structured settlement annuity means an annuity purchased in order to fund periodic payments for a plaintiff or other claimant in payment for or with respect to personal injury suffered by the plaintiff or other claimant.

  • retirement annuity contract means a contract or scheme approved under Chapter III of Part XIV of the Income and Corporation Taxes Act 1988;