FIXED ACCOUNT OPTIONS. The investment options, if available under this Contract, which become part of the Company's general asset account and are credited with a fixed rate of interest declared by the Company. The general asset account contains all the assets of the Company except for the Separate Account and other segregated asset accounts. The amount You have in any Fixed Account Option at any time is a result of any Purchase Payment You have allocated to it or any part of Your Contract Value You have transferred to it.
FIXED ACCOUNT OPTIONS. The investment options under this Contract that are credited with a fixed rate of interest declared by the Company. All Purchase Payments allocated to the Fixed Account Options become part of the Company's general asset account. The general asset account contains all the assets of the Company except for the Separate Account and other segregated asset accounts. The Fixed Account Options for this Contract are shown on page 4. FIXED ANNUITY A series of periodic annuity payments of predetermined amounts that do not vary with investment experience. Such payments are made from the Company's general asset account. GUARANTEE PERIOD The period for which either the Initial Interest Rate, the Current Interest Rate or the Renewal Interest Rate is credited to amounts allocated to the Fixed Account Options.
FIXED ACCOUNT OPTIONS. The Fixed Account options are the Dollar Cost Averaging Fixed Account and the Sub-accounts of the Guaranteed Maturity Fixed Account. DOLLAR COST AVERAGING FIXED ACCOUNT. Money in the Dollar Cost Averaging Fixed Account will earn interest for one year at the current rate in effect at the time of allocation to the Dollar Cost Averaging Fixed Account. After one year, a one year renewal rate will be declared. Subsequent renewal dates will be on anniversaries of the first renewal date. GUARANTEED MATURITY FIXED ACCOUNT. The Guaranteed Maturity Fixed Account is divided into Sub-accounts. A Sub-account is identified by its Guarantee Period and the date the Guarantee Period begins. You create a Sub-account when: - you make a purchase payment and allocate part or all of that purchase payment to the Sub-account; or - you select a new Guarantee Period when a Sub-account expires; or - you transfer to the Sub-account an amount from an existing Sub- account of the Variable Account or from another Sub-account of the Guaranteed Maturity Fixed Account. A Sub-account continues until the end of its Guarantee Period. You must select a Guarantee Period for all purchase payments and transfers allocated to a Sub-account of the Guaranteed Maturity Fixed Account. If you do not select a Guarantee Period for a purchase payment or transfer, we will assign the same period(s) you selected for your most recent purchase payment. Guarantee Periods are offered at our discretion and may range from one to ten years. We may change the Guarantee Periods available for future purchase payments or transfers allocated to the Guaranteed Maturity Fixed Account. We will mail you a notice prior to the expiration of the Guarantee Period of each Sub-account outlining the options available at the end of the Guarantee Period. During the 30 day period after a Guarantee Period expires you may: - take no action and we will automatically renew the Sub-account value to a Guarantee Period of the same duration to be established as of the day the previous Guarantee Period expired; or - notify us to apply the Sub-account value to a new Guarantee Period(s) to be established as of the day the previous Guarantee Period expired; or - notify us to apply the Sub-account value to any Sub-account of the Variable Account on the day we receive the notification; or - receive the entire Sub-account value through a partial or full withdrawal that is not subject to a Market Value Adjustment. In this case, the Sub-account will b...
FIXED ACCOUNT OPTIONS. [Fixed Account I: ---------------
FIXED ACCOUNT OPTIONS. (a) Subject to the provisions of this Section 2.06, the Company may in its discretion, from time to time, establish fixed account options under "Fixed Account I” with varying durations for certain of the Policies ceded under this Agreement (the "Fixed Account Options") and, subject to the minimum guaranteed interest rate set forth in each such Policy, set the current rates for the Fixed Account Options (the "Crediting Rates'').
(b) During the Reinsurance Period, the Company agrees to establish the Fixed Account Options and the Crediting Rates and the effective dates thereof only on recommendations of the Reinsurer. To the extent that Reinsurer's recommendations with respect to (i) the Fixed Account Options are of the kind and duration offered by the Company prior to the Effective Date, and (ii) the Crediting Rates are no greater than those being offered by other insurers under insurance policies similar to the Policies, the Company's acceptance and implementation of such recommendations shall not be unreasonably withheld or delayed. Otherwise, the Company may reject the recommendation in its sole discretion.
(c) To the extent permitted by Applicable aw, the Company agrees to allow the Reinsurer to notify policyholders and contractholders of the availability of Fixed Account Options and the Crediting Rates and the effective dates thereof.
(d) Notwithstanding any other provision of this Agreement to the contrary, in the event that the Company establishes any Fixed Account Option or Crediting Rate other than (i) on recommendation of the Reinsurer, (ii) as required by Applicable Law, or (iii) as required by the express terms and conditions of the Policies (including any express terms and conditions of the Policies that operate to establish the applicable Crediting Rates under the Policies), the risks assumed under the Policy relating to such Fixed Account Option may, at the sole option of the Reinsurer and on notice by the Reinsurer to the Company within 30 days of the Reinsurer becoming aware of the availability of such Fixed Account Option or Crediting Rate, be excluded from the Policy Liabilities assumed by the Reinsurer under Section 2.01 of this Agreement and all other provisions of this Agreement shall be appropriately adjusted to take into account to such exclusion.
(e) In the event that the aggregate account value of fixed account investment options under the Policies which are invested in the General Account (including Fixed Account I) (the "Aggregate...
FIXED ACCOUNT OPTIONS. The Fixed Account options available as of the Contract Effective Date are listed on the Contract Specifications page. We may add or delete Fixed Account options at any time. A Fixed Account option will not be available to a Participant if it has a guarantee period that ends after the Annuity Commencement Date.
FIXED ACCOUNT OPTIONS. Fixed Account Options (FAOs) — You must, before the Annuity Date and subject to the provisions of this section, allocate at least 80% of any Purchase Payment, amounts transferred from other Investment Options, or a rollover, to the FAO, while the Annuitant is living and the Contract is in force. Amounts allocated to the FAO are held in our General Account. Subject to applicable law, we have sole discretion over the investment of our General Account assets. Minimum Allocation Amount — The minimum amount that may be allocated to a FAO is as shown in the Contract Specifications. Crediting Interest — The FAO will be credited interest by applying the Minimum Guaranteed Interest Rate (MGIR) and the Index-Linked Interest Rate (XXXX), if applicable, to the FAO Value. The interest rate applied will depend on a number of factors, including the purpose for calculating the interest rate, the date it is calculated, and the general performance of the index used to calculate the XXXX. We will stop crediting interest on that portion of the FAO Value that is transferred, withdrawn or applied to provide an annuity, including any: • withdrawal charges; and, • charges for premium taxes and/or other taxes. We will do so as of the end of the Business Day any such transaction is effective. Minimum Guaranteed Interest Rate (MGIR) — The MGIR is shown in the Contract Specifications. Interest will be credited daily at a rate which compounds over one year to the annualized effective rate for the MGIR. Index-Linked Interest Rate — On certain days, we will determine if the amounts allocated to a FAO are eligible to be credited with Index-Linked Interest (ILI). Usually a date when this rate will be calculated will be the day on an event that requires the FAO Value to be determined. The following are dates that these calculations would normally be done: • each Contract Anniversary; • any day that the FAO Value must be calculated in order to pay or determine a death benefit; • any day that the FAO Value will be applied to an annuity option provided by us; and, • any other day as determined by us or if required by law. The formula for calculating ILI is as follows: Index Return = (Ending Index Value** — Starting Index Value*) / Starting Index Value If the Index Return is less than or equal to the Guaranteed Minimum Interest Rate, then no ILI will be paid. Adjusted Index Return = Lesser of Index Return or Maximum Total Interest Rate Index-Linked Interest = (Net FAO Value*** X Pro-rata Facto...
FIXED ACCOUNT OPTIONS. Fixed Account Options (FAOs) — You must, before the Annuity Date and subject to the provisions of this section, allocate at least 80% of any Purchase Payment, amounts transferred from other Investment Options or a rollover, to the FAO, while the Annuitant is living and the Contract is in force. Amounts allocated to the FAO are held in our General Account. Subject to applicable law, we have sole discretion over the investment of our General Account assets. Minimum Allocation Amount — The minimum amount that may be allocated to a FAO is as shown in the Contract Specifications. Crediting Interest — Amounts allocated to the FAO will be credited with the Guaranteed Interest Rate for the applicable Contract Year. The Guaranteed Interest Rate will never be less than the GMIR shown in the Contract Specifications. The initial Guaranteed Interest Rate, also shown in the Contract Specifications, is guaranteed not to change during the withdrawal charge period. After the sixth Contract Year, and on all subsequent Contract Anniversaries, we will declare the renewal interest rate that the FAO will earn. Each rate will be guaranteed for one Contract Year and be effective on the Contract Anniversary. Interest will be credited daily at a rate which compounds over one year to the annualized effective interest rate. We will stop crediting interest on that portion of the FAO Value that is transferred, withdrawn or applied to provide an annuity, including any: • withdrawal charges; and, • charges for premium taxes and/or other taxes. We do so as of the date any such transaction is effective.
FIXED ACCOUNT OPTIONS. Guarantee Initial Period Interest Rate --------- -------------- 20.00% 1-Year Fixed 3.00% 0.00% 1-Year DCA Fixed 0.00% 6-Month DCA Fixed
FIXED ACCOUNT OPTIONS. [Fixed Account I: --------------- Minimum Guaranteed Interest Rate: [3.00%] Current Interest Rate as of Contract Date: [x%.] [The current interest rates applies only to purchase payments allocated or transferred to Fixed Account I during the calendar month in which this contract is issued. This rate is guaranteed for one contract year.] INVESTMENT OPTIONS: [Federated Prime Money Fund II] [Rydex Ursa Fund] [Federated High Income Bond Fund II] [Rydex OTC Fund] [Federated Utility Fund II] [Rydex Arktos Fund] [Rydex U.S. Government Bond Fund] [Fidelity VIP Equity-Income Portfolio] [Rydex Mekros Fund] [Fidelity VIP II Asset Manager Portfolio] [Rydex Large-Cap Europe Fund] [Fidelity VIP II Contrafund(R)Portfolio] [Rydex Large-Cap Japan Fund] [Fidelity VIP II Index 500 Portfolio] [Rydex Titan 500 Fund] [Rydex Tempest 500 Fund] [Alger American Small Caxxxxxization Portfolio] [Rydex Velocity 100 Fund] [Alger American MidCap Gxxxxx Portfolio] [Rydex Venture 100 Fund] [Alger American Growth Pxxxxxlio] [Rydex Banking Fund] [Alger American Leveragex XxxCap Portfolio] [Rydex Basic Materials Fund] [Rydex Biotechnology Fund] [MFS Emerging Growth Series] [Rydex Consumer Products Fund] [MFS Research Series] [Rydex Electronics Fund] [MFS Investors Trust Series] [Rydex Energy Fund] [MFS Total Return Series] [Rydex Energy Services Fund] [Rydex Financial Services Fund] [Alliance Premier Growth Portfolio] [Rydex Health Care Fund] [Alliance Growth and Income Portfolio] [Rydex Internet Fund] [Rydex Leisure Fund] [American Century VP Income & Growth Fund] [Rydex Precious Metals Fund] [American Century VP Value Fund] [Rydex Retailing Fund] [Rydex Technology Fund] [Templeton Asset Strategx Xxxx] [Rydex Telecommunications Fund] [Templeton Developing Maxxxxx Xxxurities Fund] [Rydex Transportation Fund] [Rydex Utilities Fund] [Lazard Retirement Equity Portfolio] [Rydex U.S. Government Money Market Fund] [Lazard Retirement Small Cap Portfolio] [Rydex Nova Fund] [Rydex Medius Fund] [Morgan Stanley Emerging Xxxxxtx Xxxxxy [Rydex REIT Fund] Portfolio] [Morgan Stanley Internatxxxxx Mxxxxx Xortfolio] [Janus Aspen Series Growth Portfolio] [Janus Aspen Series Capital Appreciation Portfolio] [Janus Aspen Series Balanced Portfolio] [Janus Aspen Series Worldwide Growth Portfolio] [Janus Aspen Series International Growth Portfolio] [Janus Aspen Series Flexible Income Portfolio] VARIABLE ACCOUNT: [Valley Forge Life Insurance Company Variable Annuity Separate Account] [ALLOCATION GUIDELINES:
