Common use of DOLLAR COST AVERAGING OPTION Clause in Contracts

DOLLAR COST AVERAGING OPTION. Prior to the annuity commencement date, you may instruct us to automatically transfer a specified amount from source accounts made available by us to any other subaccount(s) of the separate account. The automatic transfers can occur monthly or quarterly. You may change the subaccounts to which these transfers are allocated as permitted by us from time to time. Transfers will continue until the elected source account is depleted. The amount transferred each time must be at least $500. All transfers from the source account will be the same amount as the initial transfer. Changes to the subaccounts to which these transfers are allocated are not restricted. Transfers must be scheduled for at least 6 months, but not more than 24 months or for at least 4 quarters, but not more than 8 quarters each time the dollar cost averaging program is started or restarted following termination of the program for any reason. Dollar cost averaging results in the purchase of more accumulation units when the value of the accumulation unit is low, and fewer accumulation units when the value of the accumulation unit is high. However, there is no guarantee that the dollar cost averaging program will result in higher policy values or will otherwise be successful. Dollar cost averaging may be discontinued before its scheduled completion by sending written notice to us. If dollar cost averaging is discontinued prior to the end of the scheduled period, all remaining funds in the source account will be transferred at that time. Unless we are notified otherwise the funds remaining in the source account will be transferred to the subaccounts in the percentages currently indicated. While dollar cost averaging is in effect, asset rebalancing is not available. Prior to the annuity commencement date, you may instruct us to automatically transfer amounts among the subaccounts of the separate account on a regular basis to maintain a desired allocation of the policy value among the various subaccounts offered. Rebalancing will occur on a monthly, quarterly, semi–annual, or annual basis, beginning on a date selected by you. You must select the percentage of the policy value desired in each of the various subaccounts offered (totaling 100%). Rebalancing can be started, stopped or changed at any time. Asset rebalancing is not available while dollar cost averaging is in effect. Rebalancing will cease as soon as we receive a request for any other transfer.

Appears in 1 contract

Samples: Annuity Contract (TFLIC Separate Account VNY)

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DOLLAR COST AVERAGING OPTION. Prior to the annuity commencement date, you may instruct us to automatically transfer a specified amount from source accounts made available by us to any other subaccount(s) of the separate account. The automatic transfers can occur monthly or quarterly. You may change the subaccounts to which these transfers are allocated as permitted by us from time to time. Transfers will continue until the elected source account is depleted. The amount transferred each time must be at least $500. All transfers from the source account will be the same amount as the initial transfer. Changes to the subaccounts to which these transfers are allocated are not restricted. Transfers must be scheduled for at least 6 months, but not more than 24 months or for at least 4 quarters, but not more than 8 quarters each time the dollar cost averaging program is started or restarted following termination of the program for any reason. Dollar cost averaging results in the purchase of more accumulation units when the value of the accumulation unit is low, and fewer accumulation units when the value of the accumulation unit is high. However, there is no guarantee that the dollar cost averaging program will result in higher policy values or will otherwise be successful. Dollar cost averaging may be discontinued before its scheduled completion by sending written notice to us. If dollar cost averaging is discontinued prior to the end of the scheduled period, all remaining funds in the source dollar cost averaging fixed account will be transferred at that time. Unless we are notified otherwise the funds remaining in the source dollar cost averaging fixed account will be transferred to the subaccounts in the percentages currently indicated. While dollar cost averaging is in effect, asset rebalancing is not available. Prior to the annuity commencement date, you may instruct us to automatically transfer amounts among the subaccounts of the separate account on a regular basis to maintain a desired allocation of the policy value among the various subaccounts offered. Rebalancing will occur on a monthly, quarterly, semi-annual, or annual basis, beginning on a date selected by you. You must select the percentage of the policy value desired in each of the various subaccounts offered (totaling 100%)}. Any amounts in the fixed account are ignored for the purposes of asset rebalancing. Rebalancing can be started, stopped or changed at any time. Asset rebalancing is not available while dollar cost averaging is in effect. Rebalancing will cease as soon as we receive a request for any other transfer.

Appears in 1 contract

Samples: Annuity Contract (Separate Account VA WNY)

DOLLAR COST AVERAGING OPTION. Prior to the annuity commencement date, you may instruct us to automatically transfer a specified amount from source accounts made available by us the Money Market Subaccount, U.S. Government Securities Subaccount, or out of the dollar cost averaging (DCA) fixed account option to any other subaccount(s) of the separate account. The automatic transfers can occur monthly or quarterly. You may change the subaccounts to which these transfers are allocated as permitted by us from time to time. Transfers will continue until the elected source subaccount or DCA fixed account value is depleted. The amount transferred each time must be at least $500. All transfers from the source DCA account will be the same amount as the initial transfer. Changes to the subaccounts to which these transfers are allocated are not restricted. Transfers must be scheduled for at least 6 months6, but not more than 24 months or for at least 4 quarters4, but not more than 8 quarters each time the dollar cost averaging program is started or restarted following termination of the program for any reason. Dollar cost averaging results in the purchase of more accumulation units when the value of the accumulation unit is low, and fewer accumulation units when the value of the accumulation unit is high. However, there is no guarantee that the dollar cost averaging program will result in higher policy values or will otherwise be successful. Dollar cost averaging may be discontinued before its scheduled completion by sending written notice to us. While dollar cost averaging is in effect, asset rebalancing is not available. If dollar cost averaging is discontinued prior to the end of the scheduled period, all remaining funds in the source dollar cost averaging fixed account will be transferred at that time. Unless we are notified otherwise otherwise, the funds remaining in the source dollar cost averaging fixed account will be transferred to the subaccounts in the percentages currently indicated. While dollar cost averaging is in effect, asset rebalancing is not available. Prior to the annuity commencement date, you may instruct us to automatically transfer amounts among the subaccounts of the separate account on a regular basis to maintain a desired allocation of the policy value among the various subaccounts offered. Rebalancing will occur on a monthly, quarterly, semi–annual, -annual or annual basis, beginning on a date selected by you. You must select the percentage of the policy value desired in each of the various subaccounts offered (totaling 100%). Any amounts in the fixed account are ignored for the purposes of asset rebalancing. Rebalancing can be started, stopped or changed at any time. Asset rebalancing is not available while dollar cost averaging is in effect. Rebalancing will cease as soon as we receive a request for any other transfer.

Appears in 1 contract

Samples: Annuity Contract (Separate Account Va Gny)

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DOLLAR COST AVERAGING OPTION. Prior to the annuity commencement dateAnnuity Commencement Date, you You may instruct us to automatically transfer a specified amount from source accounts made available by us the Money Market Subaccount, U.S. Government Securities Subaccount, or out of the Dollar Cost Averaging (DCA) Fixed Account Option to any other subaccount(sSubaccount(s) of the separate accountSeparate Account. The automatic transfers can occur monthly or quarterly. You may change the subaccounts to which these transfers are allocated as permitted by us from time to time. Transfers will continue until the elected source account Subaccount or DCA Fixed Account value is depleted. The amount transferred each time must be at least $500. All transfers from the source DCA account will be the same amount as the initial transfer. Changes to the subaccounts Subaccounts to which these transfers are allocated are not restricted. Transfers must be scheduled for at least 6 months6, but not more than 24 months or for at least 4 quarters4, but not more than 8 quarters each time the dollar cost averaging Dollar Cost Averaging program is started or restarted following termination of the program for any reason. Dollar cost averaging Cost Averaging results in the purchase of more accumulation units when the value of the accumulation unit is low, and fewer accumulation units when the value of the accumulation unit is high. However, there is no guarantee that the dollar cost averaging Dollar Cost Averaging program will result in higher policy values or will otherwise be successfulPolicy Values. Dollar cost averaging Cost Averaging may be discontinued before its scheduled completion by sending written notice to us. While Dollar Cost Averaging is in effect, Asset Rebalancing is not available. If dollar cost averaging Dollar Cost Averaging is discontinued prior to the end of the scheduled period, all remaining funds in the source account Dollar Cost Averaging Fixed Account will be transferred at that time. Unless we are notified otherwise otherwise, the funds remaining in the source account Dollar Cost Averaging Fixed Account will be transferred to the subaccounts Subaccounts in the percentages currently indicated. While dollar cost averaging is in effect, asset rebalancing is not available. Prior to the annuity commencement dateAnnuity Commencement Date, you You may instruct us to automatically transfer amounts among the subaccounts Subaccounts of the separate account Separate Account on a regular basis to maintain a desired allocation of the policy value Policy Value among the various subaccounts Subaccounts offered. Rebalancing will occur on a monthly, quarterly, semi–annual, -annual or annual basis, beginning on a date selected by youYou. You must select the percentage of the policy value Policy Value desired in each of the various subaccounts Subaccounts offered (totaling 100%). Any amounts in the Fixed Account are ignored for the purposes of Asset Rebalancing. Rebalancing can be started, stopped or changed at any time. Asset rebalancing Rebalancing is not available while dollar cost averaging Dollar Cost Averaging is in effect. Rebalancing will cease as soon as we receive a request for any other transfer.

Appears in 1 contract

Samples: Annuity Policy (Separate Account VA QQ)

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