Fixed Income Payments. Fixed income payments are periodic payments from the Company to the designated Payee, the amount of which is fixed and guaranteed by the Company. Fixed income payments are not in any way dependent upon the investment experience of the Variable Account. Variable Income Payments—Variable income payments are periodic payments from the Company to the designated Payee, the amount of which varies from one payment to the next as a reflection of the net investment experience of the Sub-Account(s) you select to support the payments. Using an Assumed Investment Return of 5%, we determine the dollar value of a variable income payment as of the Annuity Commencement Date. However, no payment is actually made on that date. We then allocate that dollar amount among the Sub-Accounts you selected to support your variable income payments. Based on the Annuity Unit values of the selected Sub-Accounts on that date, we determine the number of Annuity Units attributable to each Sub-Account. The number of Annuity Units attributable to each Sub-Account remains constant unless there is a transfer of Annuity Units between Sub-Accounts. To calculate the amount of each variable income payment, we multiply the number of Annuity Units attributable to each Sub-Account by the Annuity Unit value for that Sub-Account as of the Valuation Period on which the payment is being determined. We then total results of these calculations for each Sub-Account.
Fixed Income Payments. See APPENDIX B in the full Contract Prospectus for details regarding the withdrawal value of fixed payments.
Fixed Income Payments. Income Payments that are supported by the General Account and which do not vary in amount based on the investment experience of the Separate Account. FUND - Any open-end management investment company or unit investment trust in which a Subaccount invests. GENERAL ACCOUNT - Assets of the Company other than those allocated to the Separate Account or any other separate account of the Company. GUARANTEE ACCOUNT - Amounts allocated under this Contract to be held in our General Account. HOME OFFICE - The Company's offices at 0000 Xxxx Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxx 00000 INCOME PAYMENT - One of a series of payments made under either the monthly income benefit or one of the Optional Payment Plans.
Fixed Income Payments. Fixed Income Payments represents obligations of the Company's General Account. The Owner may select fixed Income Payments on the application, and if so selected, the payment amount is shown on the Contract Data Page. At any time thereafter, an Annuitant may elect to transfer any or all of the Contract's variable Income Payments to fixed Income Payments. However, once amounts are allocated for fixed Income Payments they cannot be reallocated for variable Income Payments.
Fixed Income Payments. Fixed income payments are periodic payments from the Company to the designated Payee, the amount of which is fixed and guaranteed by the Company. Fixed income payments are not in any way dependent upon the investment experience of the Variable Account.
Fixed Income Payments. Income Payments that are supported by the General Account and which do not vary in amount based on the investment experience of the Separate Account. Fund - Any open-end management investment company or unit investment trust in which the Separate Account invests. General Account - Assets of the Company other than those allocated to the Separate Account or any other separate account of the Company. Home Office - Our offices at [0000 Xxxx Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxxx 00000]. Income Payment - One of a series of payments made under either the monthly income benefit or one of the Optional Payment Plans.
Fixed Income Payments. If you choose to allocate a portion of your Net Premium to provide a Fixed Income Payment, that portion of your Net Premium will be deposited in a fixed account. The interest rate for the fixed account is shown on the Contract Data Pages. If the Income Start Date is within 90 days of the Contract Date, we will guarantee the initial Fixed Income Payment amount as shown on the Contract Data Pages. If the Income Start Date is greater than 90 days after the Contract Date, the first Fixed Income Payment will be determined on the Income Start Date, and new Contract Data Pages will be issued. The initial Fixed Income Payment is calculated using the net payout rate for a single premium immediate annuity in effect at the time of calculation. The rate is based on the Annuitant(s) age and gender, if applicable, and the Income Payment Plan selected.
Fixed Income Payments. Fixed Income Payments are based upon the Annuity Option chosen, the Annuitant's Attained Age and sex, and the appropriate Fixed Annuity Option Table. If, as of the Annuity Calculation Date, the then-current Fixed Annuity Option rates applicable to this class of contracts provide a Fixed Income Payment greater than the one guaranteed under this Contract for the same Annuity Option, then the greater payment will be made. These payments will be reduced by any applicable charges and fees as described in the Contract Schedule (or any Rider). The dollar amount of the first Variable Income Payment is determined based upon the Annuity Option chosen, the Annuitant's Attained Age and sex, and the appropriate Variable Annuity Option Table. If, as of the Annuity Calculation Date, the then current Variable Annuity Option rates applicable to this class of Contracts provide a first Variable Income Payment greater than the one guaranteed under this Contract for the same Annuity Option, the greater payment will be made. This payment will be reduced by any applicable charges and fees as described in the Contract Schedule (or any Rider). After the first payment the dollar amount of the Variable Income Payment for each Subaccount will be determined as follows: The number of Annuity Units for each Subaccount is multiplied by the Subaccount's Annuity Unit value for the Business Day that the Variable Income Payment is being calculated. This result is the dollar amount of the payment for that Subaccount, less any applicable charges and fees as described in the Contract Schedule (or any Rider). The number of Annuity Units for each Subaccount is initially established by dividing the dollar amount of the first Variable Income Payment applicable to a Subaccount by that Subaccount's Annuity Unit value as of the Annuity Calculation Date. This number of Annuity Units remains fixed during the Income Period, unless you make transfers to or from the Subaccount. A new number of Annuity Units for the Subaccount would be computed to reflect such transfers; The total dollar amount of each Variable Income Payment is the sum of all Subaccount Variable Income Payments.
Fixed Income Payments. Income Payments that are supported by the General Account and which do not vary in amount based on the investment experience of the Separate Account. Fund - Any open-end management investment company or unit investment trust in which the Separate Account invests. General Account - Assets of the Company other than those allocated to the Separate Account or any other separate account of the Company. Income Payment - One of a series of payments made under either the monthly income benefit or one of the Optional Payment Plans. Investment Options - The Subaccounts that invest in available Portfolios and any Guarantee Account provided by endorsement, if applicable. The available Portfolios are shown in the current prospectus for the Contract. Optional Payment Plan - A plan whereby any part of death proceeds or Surrender Value can remain invested with us to provide Income Payments to a Payee.
Fixed Income Payments. A series of payments made by us during an Income Period, which we guarantee as to dollar amount. INCOME PAYMENTS - The series of payments made to the Owner or other named payee after an Annuity Date under an Annuity Option. INCOME PERIOD - A period starting on an Annuity Date during which Income Payments are payable. INVESTMENT DIVISION - Separate Account assets are divided into Investment Divisions. Assets of each Investment Division will be invested in shares of a Portfolio. ISSUE DATE - The date this Contract was issued. The Issue Date is shown on the Contract Schedule. JOINT OWNER - If there is more than one Owner, each Owner shall be a Joint Owner of the Contract. NOTICE - Any form of communication providing information we need, either in a signed writing or another manner that we approve in advance. All Notices to us must be sent to our Administrative Office and received in good order. To be effective for a Business Day, a Notice must be received in good order prior to the end of that Business Day. OWNER - The person(s) entitled to the ownership rights under this Contract. If Joint Owners are named, all references to Owner shall mean Joint Owners. (Referred to as "you or yours.") PORTFOLIOS - The investment choices available to the Investment Divisions of the Separate Account. PURCHASE PAYMENT - Any amount paid to us under this Contract as consideration for the benefits it provides. SEPARATE ACCOUNT - A segregated asset account of the Company designated on the Contract Schedule. VARIABLE INCOME PAYMENTS - A series of payments made by us during an Income Period which vary in amount with the investment experience of each applicable Investment Division. WITHDRAWAL VALUE - The Account Balance less any applicable withdrawal charge, less any Premium and Other Taxes, and less any applicable charges and fees as described in the Contract Schedule or any Rider.
