FIXED SUBACCOUNT. That portion of the Fixed Account which accepts allocations for a Guaranteed Period at a Guaranteed Interest Rate. There is a separate Fixed Subaccount for each Guaranteed Period. FUND -- Any of the underlying investment options available in the Variable Account.
FIXED SUBACCOUNT a particular subaccount under a Participant Account into which net Purchase Payments and accumulated value under a fixed annuity contract may be allocated. Reserves for these allocations are held in VALIC's General Account. The portion of Accumulation Value under Fixed Subaccount One which may be transferred to another subaccount may be limited. The timing of transfers from Fixed Subaccount Two to other subaccounts may be limited. Fixed Subaccounts One and Two are discussed more fully in the Article labelled "Transfers and Surrenders."
FIXED SUBACCOUNT. That portion of the guaranteed Period Fixed Account which accepts allocations for a one year Guaranteed Period at a Guaranteed Interest Rate. There is a separate Fixed Subaccount for each Guaranteed Period. Fund – Any of the underlying investment options available in the Variable Account. General Account – An account consisting of all assets owned by LNL other than those assets in segregated investment accounts. Guaranteed Interest Rate – The effective annual rate of interest LNL guarantees to credit on assets in each Fixed Subaccount. Guaranteed Period Fixed Account – the fixed portion of the Contract that is invested in the General Account of LNL. Home Office – the principal office of LNL located at 0000 Xxxxx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Indiana, 46802, or an institution designated by LNL. LNL – The Lincoln National Life Insurance Company. Maturity Date – The date by which an election to receive payments under an Annuity Payment Option must be made. The Maturity Date is shown on the Contract Specifications. Net Asset Value Per Share – The market value of a Fund share calculated each day. Notice – Any form of communication providing information as required by LNL, either in signed writing or another manner, that LNL approves in advance. All Notices must be received by LNL in the Home Office and must include all required information necessary to process the request. To be effective for any Valuation Date, a Notice must be received in good order prior to the end of that Valuation Date. Owner – The one person, two persons or entity who exercises rights of ownership under this Contract. If two persons are named as Owner, all references to Owner means joint Owner. Purchase Payments – Amounts paid into this Contract by the Owner. Qualified Contract – A contract that is used as a funding vehicle for a retirement plan qualified for special tax treatment under the Code, including Sections 401, 403, 408, 408A and 457. All other contracts are considered Non-qualified contracts. Valuation Date – Close of the market of each day that the New York Stock Exchange is open for business. Valuation Period – The period commencing at the close of business on a particular Valuation Date and ending at the close of business on the next succeeding Valuation Date. Variable Account – The segregated investment account into which LNL sets aside and invests the assets allocated to the Variable Subaccount(s) made available by LNL and selected by the Owner. The Variable Account for this ...
FIXED SUBACCOUNT. That portion of the Fixed Account which accepts allocations for a Guaranteed Period at a Guaranteed Interest Rate. There is a separate Fixed Subaccount for each Guaranteed Period. FUND -- Any of the underlying investment options available in the Variable Account. GENERAL ACCOUNT -- An account consisting of all assets owned by Lincoln National other than those assets in segregated investment accounts. GUARANTEED INTEREST RATE -- The effective annual rate of interest Lincoln National guarantees to credit on assets in each Fixed Subaccount. GUARANTEED PERIOD -- The length of the period during which an initial or subsequent Guaranteed Interest Rate will be credited. The Guaranteed Period is selected by the Owner from those made available by Lincoln National at the time of selection. HOME OFFICE -- The principal office of Lincoln National located at 0000 Xxxxx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Indiana, 46802, or an institution designated by Lincoln National. LIFETIME INCOME PERIOD -- The period that begins after the Access Period, provided the Annuitant, or in the case of a joint life payout the Annuitant or the Secondary Life, is still living and the Contract has not been surrendered. This period will then continue for as long as the Annuitant, or the case of a joint life payout the Annuitant or the Secondary Life, is living. LINCOLN NATIONAL -- The Lincoln National Life Insurance Company. NET ASSET VALUE PER SHARE -- The market value of a Fund share calculated each day. NOTICE -- Any form of communication providing information as required by Lincoln National, either in signed writing or another manner, that Xxxxxxx National approves in advance. All Notices must be received by Lincoln National in the Administrative Office and must include all required information necessary to process the request. To be effective for any Valuation Date, a Notice must be received in good order prior to the end of that Valuation Date. OWNER -- The one person, two persons or entity who exercises rights of ownership under this Contract. If two persons are named as Owner, all references to Owner means joint Owner. PERIODIC INCOME COMMENCEMENT DATE -- The Valuation Date on which the Initial Periodic Income Payment is calculated. The due date of the Initial Periodic Income Payment will be no more than 14 calendar days after the Periodic Income Commencement Date. The Periodic Income Commencement Date is shown on the Contract Specifications. PERIODIC INCOME PAYMENT -- The variable, periodic i...
FIXED SUBACCOUNT. If no Purchase Payments will be made to the Contract after the first, the single Purchase Payment must be at least $1,000. VALIC reserves the right to limit Purchase Payment allocations among subaccounts to seven at any one time.
