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. (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'').
FIXED ACCOUNT OPTIONS. [Fixed Account I: ---------------
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. 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 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. 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 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: Step One – Determine Index Return 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. Step Two – Adjust Index Return Adjusted Index Return = Lesser of Index Return or Maximum Total Interest R...
FIXED ACCOUNT OPTIONS. INTEREST OPTIONS are offered as Tax-Deferred, Continuous Access, Separate Accounts. The following restrictions and/or benefits are a continuation of your Contract terms regarding the Fixed Account Options: SHORT TERM OPTION (“STO”): Separate Account: GPO — Subaccount STO Guarantee Periods: % Six-Month % One-Year
