FIXED ACCOUNT CONTRACT VALUE. On any Valuation Date, the Fixed Account Contract Value is equal to the amount of the initial Purchase Payment allocated under the Contract to the Fixed Account, PLUS:
FIXED ACCOUNT CONTRACT VALUE. The Fixed Account Contract Value under the Contract shall be the sum of all amounts allocated or transferred to the Fixed Account Options, reduced by any applicable taxes, plus all interest credited to the Fixed Account Options, adjusted for withdrawals (including any applicable charges and adjustments for such withdrawals), transfers and charges.
FIXED ACCOUNT CONTRACT VALUE. The sum of all amounts allocated or transferred to the Fixed Account Options under the Contract, reduced by any applicable taxes, plus all interest credited to the Fixed Account Options, adjusted for withdrawals (including any applicable charges and adjustments for such withdrawals), transfers and charges.
FIXED ACCOUNT CONTRACT VALUE. On any Valuation Date, the Fixed Account Contract Value is equal to the amount of the initial Purchase Payment allocated under the Contract to the Fixed Account, PLUS: any other Purchase Payments allocated under the Contract to the Fixed Account; any Transfers from the Separate Account to the Fixed Account; and any Current Interest credited to the Fixed Account. LESS: any Withdrawals, including Withdrawal Charges, deducted from the Fixed Account; any Transfers from the Fixed Account to the Separate Account; any amount applied as Annuity Start Amount under Annuity Options 1 through 4, 7 or 8; any Annuity Payments under Annuity Options 5 and 6; and any Premium tax and Account Charge.
FIXED ACCOUNT CONTRACT VALUE. The fixed account contract value at any time will be: (1) the sum of all purchase payments and any purchase payment credit allocated to the fixed account, plus interest credited; plus (2) any amounts transferred to the fixed account from any variable subaccount, plus interest credited; less (3) any amounts transferred from the fixed account to any variable subaccount; less (4) any amounts deducted for charges or withdrawals. Interest to be Credited We will credit interest to the fixed account contract value. Interest will begin to accrue on the date the purchase payments which are received in our home office become available to us for use. We will pay interest on the portion of your initial purchase payment allocated to the fixed account at a guaranteed rate shown under Contract Data. The first-year interest rate includes an additional first-year bonus that is also guaranteed for the first contract year. After the first year, interest will accrue on the fixed account value at rates determined by us and at our discretion. Theses rates will be based on various factors including, but not limited to, the interest rate environment, returns earned on investments backing these annuities, the rates currently in effect for new and existing company annuities, product design, competition, and the company's revenues and expenses. However, we guarantee that the rate will not be less than the Guaranteed Interest Rate shown under Contract Data. We charge a fee for establishing and maintaining our records for this contract. The charge is shown under Contract Data and is deducted from the contract value at the end of each contract year or, if earlier, when the contract is fully withdrawn.
FIXED ACCOUNT CONTRACT VALUE. The fixed account contract value is the value of the fixed account of this contract on any valuation date. Fixed Annuity - An annuity payment plan that does not vary as to dollar amount with investment experience. Fund - An investment company or separate series thereof, in which subaccounts of the separate account invest. Issue Date - The issue date is stated in the contract schedule. Mortality and Expense Risk Charge - This is a charge deducted in the calculation of the accumulation unit value and the annuity unit value. It is for our assumption of mortality risks and expense guarantees. Nonqualified - This contract issued other than as a qualified plan. Owner - See "You, You, Yours" below.
FIXED ACCOUNT CONTRACT VALUE. The Fixed Account Contract Value under the Contract shall be the sum of all monies allocated to the Fixed Account Option, reduced by any applicable taxes, plus all interest credited to the Fixed Account Option, adjusted for withdrawals, transfers, and charges. VA440NY 10 -------------------------------------------------------------------------------- WITHDRAWAL PROVISIONS -------------------------------------------------------------------------------- At or before the Income Date, the Owner may withdraw all or part of the amounts under this Contract by informing the Company at the Service Center. For full withdrawal, this Contract, or a completed Lost Contract Affidavit, must be returned to the Service Center. Upon full withdrawal, the Owner will receive the Withdrawal Value. The Withdrawal Value will be based on values at the end of the Business Day in which the request for withdrawal is received at the Service Center in Good Order. IN NO EVENT SHALL THE AMOUNT WITHDRAWN, WHETHER A FULL WITHDRAWAL OR PARTIAL WITHDRAWAL, EXCEED THE WITHDRAWAL VALUE. Except in connection with a systematic withdrawal program, the minimum partial withdrawal amount is $500, or if less, the Owner's entire interest in the Investment Division or Fixed Account Option from which a withdrawal is requested. The Owner's interest in the Investment Division or Fixed Account Option from which the withdrawal is requested must be at least [$100] after the withdrawal is completed if anything is left in that Investment Division or Fixed Account Option. Unless otherwise specified, the withdrawal will be made from each Investment Division and the Fixed Account Option in proportion to their current value. Withdrawals will be based on values at the end of the Business Day on which the request for withdrawal is received in Good Order at the Service Center. You may elect to take a systematic withdrawal by surrendering a specific sum or a certain percentage on a monthly, quarterly, semiannual or annual basis, subject to a $50 minimum withdrawal. VA440NY 11 -------------------------------------------------------------------------------- DEATH BENEFIT PROVISIONS -------------------------------------------------------------------------------- DEATH OF OWNER BEFORE THE INCOME DATE. Upon the Owner's death, or the death of any Joint Owner, before the Income Date, the death benefit will be paid to the Beneficiary(ies) designated by the Owner. Upon the death of a Joint Owner, the surviving Joint Owner, if ...
FIXED ACCOUNT CONTRACT VALUE. On any Valuation Date, the Fixed Account Contract Value is equal to the amount of the initial Purchase Payment allocated under the Contract to the Fixed Account, PLUS: any other Purchase Payments allocated under the Contract to the Fixed Account; any Transfers from the Separate Account to the Fixed Account; and any Current Interest credited to the Fixed Account. LESS: any Withdrawals, including Withdrawal Charges, deducted from the Fixed Account; any Transfers from the Fixed Account to the Separate Account; any amount applied as Annuity Start Amount under Annuity Options 1 through 6 and any Premium tax and Account Charge.
FIXED ACCOUNT CONTRACT VALUE. The sum of all amounts allocated and credited to the Fixed Account Options under the Contract, less any amounts canceled or withdrawn for charges, deductions, withdrawals or transfers. FIXED ACCOUNT MINIMUM VALUE. Premiums, less any applicable premium tax, and transfers allocated to the Fixed Account Option, less transfers, withdrawals, and charges from the Fixed Account Option, accumulated at 3.00%, less any Withdrawal Charge or any tax due.
FIXED ACCOUNT CONTRACT VALUE. Your fixed account contract value at any time will be: (1) the sum of all purchase payments and any purchase payment credits allocated to the fixed account, plus interest credited; plus (2) any amounts transferred to the fixed account from any variable subaccount, plus interest credited; less (3) any amounts transferred from the fixed account to any variable subaccount; less (4) any amounts deducted for charges or surrenders. Interest to be Credited We will credit interest to the fixed account contract value. Interest will begin to accrue at our current crediting rate on the date the purchase payments which are received in our corporate office become available to us for use. After the first year, interest will accrue on the fixed account value at rates determined by us and at our discretion. These rates will be based on various factors including, but not limited to, the interest rate environment, returns earned on investments backing these annuities, the rates currently in effect for new and existing company annuities, product design, competition, and the company's revenues and expenses. The Fixed Account Minimum Interest Rate is shown under Contract Data. We charge a fee for establishing and maintaining our records for this contract. The charge is shown under Contract Data and is deducted from the contract value at the end of each contract year or, if earlier, when the contract is fully surrendered. Any deduction from the fixed account contract value will be limited to: (1) the amount of interest credited in excess of the Fixed Account Minimum Interest Rate shown under Contract Data; plus (2) any amounts allocated or transferred to the fixed account in that year. In no instance will the charge from the fixed account exceed $30 in any contract year. The charge deducted will be prorated among the variable subaccounts and the fixed account in the same proportion your interest in each bears to the total contract value less any Special DCA fixed account. Such charges will only be deducted from any Special DCA account if insufficient amounts are available from your fixed account and variable subaccounts. We reserve the right to adjust this charge after the first contract anniversary but the charge will never exceed the amount shown under Contract Data. We waive or reduce this charge if your contract value, or your total purchase payments, less any purchase payments surrendered, equals or exceeds the amount shown under Contract Data. If you make a full surrender...
