Common use of Fixed Account Value Clause in Contracts

Fixed Account Value. The Fixed Account Value is the sum of the Accumulated Value in each Fixed Account. On the Policy Date, the Fixed Account Value equals the Net Premium received less the first Monthly Deduction. Interest is credited on a daily basis using a 365-day year, at an annual effective rate not less than the Guaranteed Interest Rate for Fixed Options shown in the Policy Specifications. We may credit a higher rate of interest. Each Fixed Account may have its own unique rate. While we expect to credit a higher rate of interest to the Fixed LT Account than to the Fixed Account, we do not guarantee to do so. The interest rate in effect at the beginning of the Policy year will be effective for the duration of that year. The Fixed Account Value on any Valuation Day is the total of all of the following, including interest on each: · The Fixed Account Value on the prior Monthly Payment Date; · Plus the amount of any applicable Account Additions to each Fixed Account since the prior Monthly Payment Date; Plus the amount of any transfer to each Fixed Account, including transfers from the Loan Account or Indexed Accounts, since the prior Monthly Payment Date; · Minus reduction for benefits paid since the prior day as may be described in certain riders attached to this Policy; · Minus any applicable Account Deductions from each Fixed Account since the prior Monthly Payment Date; and · Minus the amount of any transfers from each Fixed Account since the prior Monthly Payment Date (such transfers include transfers to the Indexed Accounts to create a new Segment and transfers to the Loan Account to secure any Policy loan).

Fixed Account Value. The Fixed Account Value is the sum of the Accumulated Value in each Fixed Account. On the first day that the Policy Dateis In Force, the Fixed Account Value equals the portion of the Net Premium received that is allocated to the Fixed Account according to the Investment Option(s) identified in the Allocation Instructions on record, less the first Monthly Deduction. Interest is credited on a daily basis using a 365-day year, at an annual effective rate not less than the Guaranteed Interest Rate for Fixed Options shown in the Policy Specifications. We may credit a higher rate of interest. Each Fixed Account may have its own unique rate. While we expect to credit a higher rate of interest to the Fixed LT Account than to the Fixed Account, we do not guarantee to do so. The interest rate in effect at the beginning of the Policy year will be effective for the duration of that year. The Fixed Account Value on any Valuation Day is the total of all of the following, including interest on each: · The Fixed Account Value on the prior Monthly Payment Date; · Plus the amount of any applicable Account Additions to each Fixed Account since the prior Monthly Payment Date; · Plus the amount of any transfer to each Fixed Account, including transfers from the Loan Account or Indexed AccountsAccount(s), since the prior Monthly Payment Date; · Minus reduction for benefits paid since the prior day as may be described in certain riders attached to this Policy; · Minus any applicable Account Deductions from each Fixed Account since the prior Monthly Payment Date; and · Minus the amount of any transfers from each Fixed Account since the prior Monthly Payment Date (such transfers include transfers to the Indexed Accounts Account(s) to create a new Segment and transfers to the Loan Account to secure any Policy loan).

Fixed Account Value. The Fixed Account Value is the sum of the Accumulated Value in each Fixed Account. On the Policy Date, the Fixed Account Value equals the Net Premium received less the first Monthly Deduction. Interest is credited on a daily basis using a 365-day year, at an annual effective rate not less than the Guaranteed Interest Rate for Fixed Options shown in the Policy Specifications. We may credit a higher rate of interest. Each Fixed Account may have its own unique rate. While we expect to credit a higher rate of interest to the Fixed LT Account than to the Fixed Account, we do not guarantee to do so. The interest rate in effect at the beginning of the Policy year will be effective for the duration of that year. The Fixed Account Value on any Valuation Day is the total of all of the following, including interest on each: · The Fixed Account Value on the prior Monthly Payment Date; · Plus the amount of any applicable Account Additions to each Fixed Account since the prior Monthly Payment Date; Plus the amount of any transfer to each Fixed Account, including transfers from the Loan Account or Indexed AccountsAccount, since the prior Monthly Payment Date; · Minus reduction for benefits paid since the prior day as may be described in certain riders attached to this Policy; · Minus any applicable Account Deductions from each Fixed Account since the prior Monthly Payment Date; and · Minus the amount of any transfers from each Fixed Account since the prior Monthly Payment Date (such transfers include transfers to the Indexed Accounts to create a new Segment and transfers to the Loan Account to secure any Policy loan).