Annual Adjustments to Benefit Base. On each Ratchet Date during the Accumulation Phase, the Benefit Base automatically adjusts to the greater of: • the current Benefit Base; and • the current Covered Fund Value.
Appears in 4 contracts
Samples: Individual Flexible Premium Variable Deferred Annuity Contract (Variable Annuity-8 Series Account (Of Great-West Life & Annuity Insurance Co of New York)), Nonparticipating, Individual Flexible Premium Variable Deferred Annuity Contract (Variable Annuity-8 Series Account (Of Great-West Life & Annuity Insurance Company)), Group Variable Deferred Annuity Contract (Variable Annuity-8 Series Account (Of Great-West Life & Annuity Insurance Co of New York))
Annual Adjustments to Benefit Base. On each Ratchet Date during the Accumulation Phase, the Benefit Base automatically adjusts to the greater of: • :
(a) the current Benefit Base; and • or
(b) the current Covered Fund Value.
Appears in 2 contracts
Samples: Master Group Fixed Deferred Annuity Contract (Great West Life & Annuity Insurance Co), Master Group Fixed Deferred Annuity (Great West Life & Annuity Insurance Co)
Annual Adjustments to Benefit Base. On each Ratchet Date during the Accumulation Phase, the Benefit Base automatically adjusts to the greater of: • the current Benefit Base; and or • the current Covered Fund Value.
Appears in 1 contract
Samples: Individual Deferred Annuity Contract (Variable Annuity-8 Series Account)
