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Fixed Account Value Sample Clauses

Fixed Account Value. The Fixed Account Value is equal to: 1. the value of Premium and any amounts transferred into the Fixed Account; plus 2. interest credited daily at a rate not less than the FAMIR, as shown on the Contract Data Pages, per annum; less 3. any gross partial withdrawals, including any Withdrawal Charges on such withdrawals; less 4. any amounts transferred out of the Fixed Account. The Fixed Account Value will never be less than the FAMV. FIXED INCOME ASSET PROXY. A component of the Interim Value calculation. See the Crediting Method Endorsements for details on the calculation of the Fixed Income Asset Proxy for the crediting method(s) You have elected. GOOD ORDER. The Company's receipt of all Premium, information, documentation, and/or instructions the Company reasonably requires before it will issue the Contract, credit any interest, or execute any transaction. INCOME DATE. The date on which Income Payments are scheduled to begin as described in the Income Provisions. The Income Date must be at least thirteen (13) months after the Contract Issue Date. The Income Date is shown on the Contract Data Pages. INCOME OPTION. Payment options as provided under the Income Provisions. INDEX(ES). A benchmark used to determine the Index Adjustment, if any, for a particular Index Account Option. See the Supplemental Contract Data Pages for the available Indexes as of the Issue Date. INDEX ACCOUNT. A Contract Option in which amounts are subject to an Index Adjustment after a specified period of time. See the Crediting Method Endorsements and Supplemental Contract Data Pages for detailed descriptions of the Index Account Options within the Index Account. Index Account Option availability is subject to change by the Company on a non- discriminatory basis. RILA302NY 6 DEFINITIONS (CONT'D) INDEX ACCOUNT OPTION. An option within the Index Account for allocation of Premium or Contract Value. Each Index Account Option is defined by its term, Index, and Crediting Method. INDEX ACCOUNT OPTION TERM ANNIVERSARY. The Business Day concurrent with or immediately following the end of an Index Account Option term. INDEX ACCOUNT VALUE. The Contract Value allocated to the Index Account. The Index Account Value is the sum of the Index Account Option values. INDEX ADJUSTMENT. The adjustment amount to an Index Account Option on the Index Account Option Term Anniversary. This adjustment can be positive or negative, depending on Index performance and Crediting Method. INDEX ADJUSTMENT FACTOR(S). P...
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Fixed Account Value. The Fixed Account value is equal to (1) the value of Premium and any amounts transferred from the Index Account into the Fixed Account, adjusted for any applicable MVA; (2) plus interest credited daily at a rate not less than the FAMIR, as shown on the Contract Data Pages, per annum; (3) less any gross partial withdrawals; (4) less any amounts transferred out of the Fixed Account. The Fixed Account Value will never be less than the FAMV. Index Account Value. The Index Account value is equal to the sum of the Index Account Option values. The Index Account Option value at the beginning of the Index Account Option term is equal to the amount allocated or transferred to the Index Account Option less the amount transferred out of the Index Account Option. Transfers out of the Index Account Option to the Fixed Account will be adjusted for any applicable MVA. During the Index Account Option term, the Index Account Option value is equal to the Interim Value, which is the greater of the Index Account Option value at the beginning of the term reduced for any partial withdrawals from the Index Account Option during the Index Account Option term, including any MVA, in the same proportion as the Interim Value was reduced on the date of the withdrawal, plus the prorated Index Adjustment subject to prorated Index Adjustment Factors and the IVPF, or zero. Additional detail on Index Adjustment Factors can be found in the Crediting Method endorsements and Supplemental Contract Data Pages. On the Index Account Option Term Anniversary, the Index Account Option value is equal to the greater of the Index Account Option value at the beginning of the Index Account Option term, reduced for any partial withdrawals from the Index Account Option during the Index Account Option term, including any MVA, in the same proportion as the Interim Value was reduced on the date of the withdrawal, plus the Index Adjustment subject to Index Adjustment Factors, or zero. Additional detail on Index Adjustment Factors can be found in the Crediting Method endorsements and Supplemental Contract Data Pages.
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Fixed Account Value. The Fixed Account Value is equal to (1) the value of Premium and any amounts transferred into the Fixed Account Option(s); (2) plus interest credited daily at a rate not less than the FAMIR, as shown on the Contract Data Pages, per annum; (3) less any gross partial withdrawals; (4) less any amounts transferred out of the Fixed Account Option(s). The Fixed Account Value will never be less than the FAMV. INDEX ACCOUNT OPTIONS. An option within the Index Account for allocation of Contract Value, defined by term, Index, and Crediting Method. The terms, Indexes, and Crediting Methods available as of the Issue Date are shown on the Supplemental Contract Data Pages. Availability of terms, Indexes, and Crediting Methods are subject to change on a non-discriminatory basis, as described in this Contract, the Contract Data Pages, the Crediting Method endorsements and the Supplemental Contract Data Pages.
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Fixed Account Value. The Fixed Account Value is equal to: 1. the value of Premium and any amounts transferred into the Fixed Account; plus 2. interest credited daily at a rate not less than the FAMIR, as shown on the Contract Data Pages, per annum; less 3. any gross partial withdrawals, including any Withdrawal Charges on such withdrawals; less 4. any amounts transferred out of the Fixed Account. The Fixed Account Value will never be less than the FAMV. GOOD ORDER. The Company's receipt of all Premium, information, documentation, and/or instructions the Company reasonably requires before it will issue the Contract, credit any interest, or execute any transaction. INCOME DATE. The date on which Income Payments are scheduled to begin as described in the Income Provisions. The Income Date must be at least thirteen (13) months after the Contract Issue Date. The Income Date is shown on the Contract Data Pages. INCOME OPTION. Payment options as provided under the Income Provisions. INDEX(ES). A benchmark used to determine the Index Adjustment, if any, for a particular Index Account Option. See the Supplemental Contract Data Pages for the available Indexes as of the Issue Date. INDEX ACCOUNT. A Contract Option in which amounts are subject to an Index Adjustment for a specified period of time. See the Crediting Method Endorsements and Supplemental Contract Data Pages for detailed descriptions of the Index Account Options within the Index Account. Index Account Option availability is subject to change by the Company on a non-discriminatory basis. INDEX ACCOUNT OPTION. An option within the Index Account for allocation of Premium or Contract Value. Each Index Account Option is defined by its term, Index, and Crediting Method.
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Fixed Account Value. On the Contract Date the Fixed Account Value equals: (1) the portion of the Net Premium allocated to the Fixed Account; less (2) the portion of the Monthly Deduction allocated to the Fixed Account. On each Valuation Day the Fixed Account Value will be equal to:
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Fixed Account Value. The Fixed Account Value is equal to (1) the value of Premium and any amounts transferred into the Fixed Account Option(s); (2) plus interest credited daily at a rate not less than the FAMIR, as shown on the Contract Data Pages, per annum; (3) less any gross partial withdrawals; (4) less any amounts transferred out of the Fixed Account Option(s), (5) less any applicable charges for add-on benefits. The Fixed Account Value will never be less than the FAMV.
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Fixed Account Value. On the contract date the fixed account value equals: (1) the portion of the premium allocated to the fixed account; less (2) the portion of the annual administration fee allocated to the fixed account. On each valuation day the fixed account value will be equal to: A + B + C - D - E - F "A" is the fixed account value on the preceding valuation date plus interest from the preceding valuation date to the date of calculation.
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Fixed Account Value. The Fixed Account Value is equal to (1) the value of Premium and any amounts transferred into the Fixed Account Option(s); (2) plus interest credited daily at a rate not less than the FAMIR, as shown on the Contract Data Pages, per annum; (3) less any gross partial withdrawals, including any Withdrawal Charges on such withdrawals; (4) less any amounts transferred out of the Fixed Account Option(s). The Fixed Account Value will never be less than the FAMV. INDEX ACCOUNT OPTIONS. An option within the Index Account for allocation of Contract Value, defined by term, Index, and Crediting Method. The terms, Indexes, and Crediting Methods available as of the Issue Date are shown on the Supplemental Contract Data Pages. Availability of terms, Indexes, and Crediting Methods are subject to change on a non-discriminatory basis, as described in this Contract, the Contract Data Pages, the Crediting Method endorsements and the Supplemental Contract Data Pages.
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