Indexed Account. An account that We establish, subject to the terms of this Contract. INDEXED ANNIVERSARY DATE -- The same calendar month and day as the Initial Start Date under this Contract, each calendar year. If in any calendar year such Indexed Anniversary Date is not a Valuation Date, any transactions involving the Indexed Accounts that should have occurred on the Indexed Anniversary Date will be processed by Us on the first Valuation Date following that Indexed Anniversary Date. INDEX VALUE -- The published closing value of an Index on a Valuation Date. If an Index Value is not published for a particular day, We will use the closing Index Value on the next day it is published. In the event that the Index Value for an Index is not published on a particular day when the Index Values for other indexes available with this Contract are published, We will use the closing Index Value for that Index as of the day it was last published. INITIAL START DATE -- The same Valuation Date as the Contract Date. This Contract will only have one Initial Start Date and once set, the date will not change. INTERIM VALUE -- The value that We establish for each Segment of a particular Indexed Account, on any Valuation Date following its Start Date, and prior to its End Date. The method for determining the Interim Value for a Segment of a particular Indexed Account is described in any Indexed Accounts Rider attached to this Contract. IRREVOCABLE BENEFICIARY -- A Beneficiary whose interest cannot be changed without that person’s consent. If the Beneficiary is designated as an Irrevocable Beneficiary, the Owner must receive written consent from the Beneficiary to exercise any right or option under this Contract. MATURITY DATE -- The date on which Annuity Payments must commence. The Maturity Date is shown on the Contract Specifications and is based on the original Annuitant’s date of birth. NATURAL PERSON -- A human being. NON-NATURAL PERSON -- A trust, corporation, partnership, or association. NOTICE, ELECTION OR REQUEST -- A Notice, Election, or Request to Us is any form of communication providing information, either in writing, or another manner acceptable to Us. Such communication must be received in Good Order and must include all required information necessary to be processed by Us. To be effective for any Valuation Date, a Notice, Election, or Request must be received in Good Order prior to the end of that Valuation Date. Any Notice from Us to the Owner or any other person, is a communi...
Indexed Account. The portion of Contract Value that can be either increased or decreased by the performance of an Index. Each Indexed Account has an associated Index, Indexed Interest Cap, Crediting Method and an Indexed Account Value. Each Indexed Account also includes the Return Lock feature.
Indexed Account. Value The Indexed Account Value is equal to the Interim Value on any Business Day except the first and last day of the Interest Term. On the first day of the Interest Term the Indexed Account Value equals the Base Value. On the last Business Day of the Interest Term, the Indexed Account Value equals the Base Value multiplied by the sum of 1 plus the Adjusted Index Return. Indexed Interest The dollar amount of interest credited, either positive, negative, or equal to zero, to an Indexed Account at the end of an Interest Term. Indexed Interest Buffer The maximum negative Index Return that will not result in a negative Adjusted Index Return being credited to the Indexed Account Value at the end of an Interest Term. Indexed Interest Cap The maximum Adjusted Index Return that can be credited under an Indexed Account for an Interest Term The initial Indexed Interest Cap applies to the initial Interest Term. Any Indexed Interest Caps, other than the initial Indexed Interest Cap, are set in our sole discretion but will not be less than the Guaranteed Minimum Indexed Interest Cap. Indexed Interest Floor The maximum negative Adjusted Index Return that can be credited under an Indexed Account at the end of an Interest Term. Interest Term For the Fixed Account, the period shown on your Contract Data Page over which interest is credited at a specified declared rate. For any Indexed Account, the period shown on your Contract Data Page over which performance of an Index is measured to determine Indexed Interest. Interim Value The Interim Value is the Indexed Account Value on any Business Day during an Interest Term except the first and last Business Days of the Interest Term. Owner The person(s) or legal entity named on the Contract application, unless changed. The Owner is entitled to exercise all rights and privileges under the Contract. If there is a joint Owner, the term Owner as used in the Contract includes the joint Owner named on the application, unless changed. Payee The person(s) or entity (or entities) designated by you to receive Annuity Payments during the Income Phase. You are the Payee unless you designate another person or an entity as the Payee. Purchase Payment The single premium paid to us under the Contract, less any applicable taxes due at the time this payment is made. Return Lock A feature of each Indexed Account which allows you to elect to set the Indexed Account Value equal to the Interim Value as of the Return Lock Date. If you exercise the Ret...
Indexed Account. An option available to which You allocate the purchase payment and Contract Value, subject to the limits in the Transfer of Contract Value provision. Each Indexed Account includes an Index(es), Crediting Method, duration, and a protection option with a protection percentage. The Initial Indexed Account Options available as of the Contract Date are shown under Contract Data. Interim Account An option available to which You may allocate Contract Value after the MVA Period or after a spousal continuation, subject to the limits in the Transfer of Contract Value provision. Also, used to hold amounts for any optional automated transfer program. Amounts applied to the Interim Account earn a declared rate of interest. Investment Base Used to determine the value for each Segment and is equal to the amount allocated to the Segment, adjusted for partial surrenders. The Investment Base is separate from Your Contract Value and cannot be withdrawn in a lump sum or annuitized and is not payable as a death benefit.
Indexed Account. An option available to which You may allocate the initial purchase payment and Contract Value, subject to the limits in the Transfer of Contract Value provision. Each Indexed Account includes an Index, Crediting Method, duration, and a Buffer or a Floor. The Initial Indexed Account Options available as of the Contract Date are shown under Contract Data. Interim Account Used to hold additional purchase payments. Amounts applied to the Interim Account earn a declared rate of interest. Investment Base Used to determine the value for each Segment and is equal to the amount allocated to the Segment, adjusted for partial surrenders. The Investment Base is separate from Your Contract Value and cannot be withdrawn in a lump sum or annuitized and is not payable as a death benefit.
Indexed Account. Value The Indexed Account Value is the sum of the value of all open Segments. The value of a Segment at any point in time is equal to:
