ANNUITY UNIT. A unit of measure used to determine the amount of variable payments under a variable payment plan and the value of the interest of a variable payment plan in the Separate Account.
ANNUITY UNIT. A unit of measure used on and after the Annuity Commencement Date to calculate the amount of a variable annuity benefit payment.
ANNUITY UNIT. The value of any Annuity Unit for each Sub-Account of the Separate Account was initially set at $10. The Sub-account Annuity Unit Value at the end of any subsequent Valuation Period is determined as follows:
ANNUITY UNIT. An accounting unit of measure used to calculate the amount of annuity payments under the variable annuity option.
ANNUITY UNIT. The number of Annuity Units per Fund is based on the amount of the first variable Annuity payment which is equal to:
(a) The portion of the Certificate Holder's Account Value (minus any premium taxes) applied to pay a variable Annuity; divided by, (b) 1000; multiplied by, (c) The payment rate for the Annuity Option chosen. Such amount, or portion, of the variable Annuity payment will be divided by the Annuity Unit value for the appropriate Fund on the tenth Valuation Period before the due date of the first payment to determine the number of each Fund's Annuity Units. The number of each Fund's Annuity Unit remains fixed. Each future payment is equal to the sum of the products of each Fund's Annuity Unit value multiplied by the appropriate number of units. The Fund's Annuity Unit value on the tenth Valuation Period prior to the due date of the payment is used.
ANNUITY UNIT. Value The value of an Annuity Unit for each Subaccount for any Business Day is determined as follows:
ANNUITY UNIT. An annuity unit is an accounting unit of measure. It is used to calculate the value of annuity payments from the variable account on and after annuitization. Code The Internal Revenue Code of 1986, as amended. Contract Anniversary The same day and month as the contract date each year that the contract remains in force. Contract Date It is the date from which contract anniversaries, contract years, and contract months are determined. Your contract date is shown under Contract Data. Contract Value The sum of the: (1) guarantee period accounts value; and (2) variable account contract value. Xxxxx Xxxxxxx A fixed annuity is an annuity with payments which are guaranteed by us as to dollar amount during the annuity payment period. Guarantee Period Accounts These are accounts to which you may allocate purchase payments and contract values. Guarantee Period Accounts have guaranteed interest rates declared periodically. Market Value Adjustment A positive or negative adjustment assessed if any portion of a Guarantee Period Account is withdrawn or transferred prior to the end of its guaranteed period. Nonqualified Contract A contract used primarily for retirement purposes that is not intended to qualify as a qualified plan (such as IRAs, TSAs, or other tax-qualified plans). Retirement Date The date shown under Contract Data on which annuity payments are to begin. This date may be changed as provided in this contract. You will be notified prior to the retirement date in order to select an appropriate annuity payment plan. Valuation Date A valuation date is each day the New York Stock Exchange is open for trading. Valuation Period A valuation period is the interval of time commencing at the close of business on each valuation date and ending at the close of business on the next valuation date. Variable Account Consists of separate subaccounts to which you may allocate purchase payments and contract values; each invests in shares of one fund. The value of your investment in each subaccount changes with the performance of the particular fund. Variable Annuity A variable annuity is an annuity with payments which are not predetermined or guaranteed as to dollar amount and vary in amount with the investment experience of one or more of the variable subaccounts. We, Us, Our American Enterprise Life Insurance Company Written Request A request in writing signed by you and delivered to us at our administrative office. You, Your The owner of this contract. In a nonqualfied contr...
ANNUITY UNIT. An accounting unit of measure used to calculate the value of Annuity Payments from the variable subaccounts on and after the Annuitization Start Date. The number of whole years since birth, which is the same as the age as of a person’s latest birthday. If You were born on February 29, We will use February 28 in determining Your Attained Age in years when February only has 28 Days. The Internal Revenue Code of 1986, as amended.
ANNUITY UNIT. VALUE The number of annuity units credited under a variable payment option is equal to:
a) the amount of the first payment; DIVIDED BY b) the applicable annuity unit value as of the option's effective date. The number of annuity units remains constant. However, if you exchange annuity units among the subaccounts, the units are exchanged on a dollar equivalent basis. The annuity unit values depend on the assumed interest rate and on the net investment factor. An annuity unit value is determined for each subaccount for each valuation period. The annuity unit value of each subaccount for its first valuation period was set at $1.00. Each annuity unit value for each later valuation period is equal to:
a) the annuity unit value for the immediately preceding valuation period; TIMES b) the net investment factor for that valuation period; TIMES c) the daily assumed interest factor for each day in that valuation period.
ANNUITY UNIT. A unit of measure used to calculate the amount of a variable annuity payment. BENEFICIARY(IES). The natural person(s) or entity(ies) designated by the Owner to receive any death benefit payable under the Contract. BUSINESS DAY. Any day that the New York Stock Exchange (NYSE) is open for business. The Business Day ends when the NYSE closes, which is usually at 4 p.m. Eastern Time.
