Common use of FIXED ACCOUNT CONTRACT VALUE Clause in Contracts

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.