ANNUITY YEAR definition

ANNUITY YEAR. The first Annuity Year begins on the Issue Date and continues through and includes the day immediately preceding the first anniversary of the Issue Date. Subsequent Annuity Years begin on the anniversary of the Issue Date and continue through and include the day immediately preceding the next anniversary of the Issue Date.
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ANNUITY YEAR also means "Contract Year";
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ANNUITY YEAR means each twelve (12) calendar month period beginning on the anniversary date of issue of a Reinsured Contract.
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Examples of ANNUITY YEAR in a sentence

  • ANNUITY YEAR - A one-year period of time beginning on the Income Start Date and each one year anniversary thereafter.

  • WE RESERVE THE RIGHT TO WAIVE THE MINIMUM TRANSFER AMOUNT.] MVA OPTION: [NOT AVAILABLE] SCHEDULE (CONTINUED) CONTINGENT DEFERRED SALES CHARGE: LENGTH OF TIME PERCENTAGE OF PURCHASE SINCE PURCHASE PAYMENT PAYMENTS BEING LIQUIDATED 0-1 year 7.0% 1-2 years 6.0% 2-3 years 5.0% 3-4 years 4.0% 4-5 years 3.0% 5-6 years 2.0% 6-7 years 1.0% 7+ years 0% TRANSFER FEE: $[10 PER TRANSFER AFTER THE TWENTIETH IN ANY ANNUITY YEAR.

  • ANNUITY YEAR - A one year period of time beginning on the Annuity Commencement Date or an Annuity Commencement Date Anniversary.

Related to ANNUITY YEAR

  • Annuity means a stated sum payable periodically at stated times during life or during a specified or ascertainable period of time under an obligation to make the payments in return for adequate and full consideration in money or money's worth.

  • Annuity Starting Date means, with respect to any Participant, the first day of the first period for which an amount is paid as an annuity, or, in the case of a benefit not payable in the form of an annuity, the first day on which all events have occurred which entitles the Participant to such benefit.

  • ANNUITY DATE The date on which Annuity Payments begin. The Annuity Date is shown on the Contract Schedule. ANNUITY OPTIONS: Options available for Annuity Payments.

  • Annuity Commencement Date means the first day of any month upon which an annuity begins under the Contract. However, for any Participant, this date shall not be later than the required beginning date as defined in the applicable sections of the Code and Regulations issued thereunder.

  • life annuity means “life annuity contract” as defined in Pension Legislation that conforms with the Act and Pension Legislation;

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