Annuity Units. The number of Annuity Units is found by dividing the first Annuity Payment by the Annuity Unit Value for the selected Subaccount on the Annuity Payout Date. The number of Annuity Units for the Subaccount then remains constant, unless an Exchange of Annuity Units is made. After the first Annuity Payment, the dollar amount of each subsequent Annuity Payment is equal to the number of Annuity Units times the Annuity Unit Value for the Subaccount on the due date of the Annuity Payment. The Annuity Unit Value for each Subaccount was first set at $1.00. The Annuity Unit Value for any subsequent Valuation Date is equal to (a) times (b) times (c), where:
Appears in 2 contracts
Samples: Flexible Premium Deferred Variable Annuity Contract (Price T Rowe Variable Annuity Account), Flexible Premium Deferred Variable Annuity Contract (Price T Rowe Variable Annuity Account)
Annuity Units. The number of Annuity Units is found by dividing the first Annuity Payment by the Annuity Unit Value for the selected Subaccount on the Annuity Payout Start Date. The number of Annuity Units for the Subaccount then remains constant, unless an Exchange a Transfer or Withdrawal of Annuity Units is made. After the first Annuity Payment, the dollar amount of each subsequent Annuity Payment is equal to the number of Annuity Units times the Annuity Unit Value for the Subaccount on the due date of the Annuity Payment. The Annuity Unit Value for each Subaccount was first set at $1.00. The Annuity Unit Value for any subsequent Valuation Date is equal to (a) times (b) times (c), where:
Appears in 2 contracts
Samples: Variable Annuity Contract (Parkstone Variable Annuity Account), Variable Annuity Contract (Parkstone Variable Annuity Account)
