ANNUITY PROVISIONS. VARIABLE ANNUITY PAYMENTS The amount of the first Variable Annuity payment is determined by applying the portion of the Contract Value used to effect a Variable Annuity (minus any applicable premium taxes) to the appropriate table(s) contained in this Contract. If the table in use by us on the Maturity Date is more favorable to you, we will use that table. The portion of the Contract Value used to effect a Variable Annuity will be measured as of a date not more than 10 business days prior to the Maturity Date. Subsequent payments will be based on the investment performance of one or more Sub-Accounts as you select. The amount of such payments is determined by the number of Annuity Units credited for each Sub-Account. Such number is determined by dividing the portion of the first payment allocated to that Sub-Account by the Annuity Unit value for that Sub-Account determined as of the same date that the Contract Value used to effect annuity payments was determined. This number of Annuity Units for each Sub-Account is then multiplied by the appropriate Annuity Unit value for each subsequent determination date, which is a uniformly applied date not more than 10 business days before the payment is due. MORTALITY AND EXPENSE We guarantee that the dollar amount of each GUARANTEE variable annuity payment will not be affected by changes in mortality and expense experience. ANNUITY UNIT VALUE The value of an Annuity Unit for each Sub-Account for any Valuation Period is determined as follows:
Appears in 3 contracts
Samples: John Hancock (John Hancock Life Insurance Co (Usa) Separate Account H), John Hancock Life Insurance Co (Usa) Separate Account H, John Hancock Life Insurance Co (Usa) Separate Account H
ANNUITY PROVISIONS. VARIABLE ANNUITY PAYMENTS The amount of the first Variable Annuity payment is determined by applying the portion of the Contract Value used to effect a Variable Annuity (minus any applicable premium taxes) to the appropriate table(s) contained in this Contract. If the table in use by us on the Maturity Date is more favorable to you, we will use that table. The portion of the Contract Value used to effect a Variable Annuity will be measured as of a date not more than 10 business days prior to the Maturity Date. Subsequent payments will be based on the investment performance of one or more Sub-Accounts as you select. The amount of such payments is determined by the number of Annuity Units credited for each Sub-Account. Such number is determined by dividing the portion of the first payment allocated to that Sub-Account by the Annuity Unit value for that Sub-Account determined as of the same date that the Contract Value used to effect annuity payments was determined. This number of Annuity Units for each Sub-Account is then multiplied by the appropriate Annuity Unit value for each subsequent determination date, which is a uniformly applied date not more than 10 business days before the payment is due. MORTALITY AND EXPENSE We guarantee that Variable Annuity payments, at the dollar amount time of each GUARANTEE variable annuity payment their commencement, will not be affected less than those that would be provided by changes in mortality and expense experience. ANNUITY UNIT VALUE The value the application of an Annuity Unit for each Sub-Account for amount to purchase any Valuation Period is determined as followssingle consideration immediate annuity contract, offered at the time, to the same class of annuitants. Since no such annuity contract currently exists, a comparable contract in an affiliated company will be used. Such an amount would be equal to the greater of:
Appears in 3 contracts
Samples: Hancock Life Insurance (John Hancock Life Insurance Co of New York Separate Account A), John Hancock Life Insurance Co of New York Separate Account A, John Hancock Life Insurance Co of New York Separate Account A
