GUARANTEED DEATH BENEFIT INTEREST RATE Sample Clauses

GUARANTEED DEATH BENEFIT INTEREST RATE. The Guaranteed Death Benefit Interest Rate is [7%] compounded annually, except:
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GUARANTEED DEATH BENEFIT INTEREST RATE. The Guaranteed Death Benefit Interest Rate is [7%] compounded annually, except: (a) For any portion of the Guaranteed Death Benefit attributable to Accumulation Value allocated to Special Funds, the Guaranteed Death Benefit Interest Rate is the lesser of: (1) [7%] (compounded annually) and (2) the interest rate, positive or negative, providing a yield on the Guaranteed Death Benefit for Special Funds equal to the net return for the current valuation period on the Accumulation Value allocated to Special Funds; and (b) For any valuation period ending after the contract anniversary on which the Owner attains age [80], or after the Maximum Guaranteed Death Benefit has been reached, the Guaranteed Death Benefit Interest Rate is [0%]. GA-RA-1044-4 SPECIAL FUNDS Where used in this Endorsement the Special Funds are [the Liquid Assets Division, the Limited Maturity Bond Division, the Fixed Allocations, and the Guaranteed Interest Division]. The Company reserves the right to classify newly available divisions as Special Funds from the date of their availability to the Owner. The Company may reclassify an existing division as a Special Fund or remove such designation. Such reclassification shall be made with 30 days notice to contract owners, and will apply to amounts transferred or otherwise added to such division after the date of change. MAXIMUM GUARANTEED DEATH BENEFIT The Maximum Guaranteed Death Benefit is equal to [three] times premium paid, plus [three] times any Credits, reduced by the amount of any Special and Prorata Partial Withdrawal Adjustments. Any addition due to spousal continuation will not affect the Maximum Guaranteed Death Benefit or the Guaranteed Death Benefit.
GUARANTEED DEATH BENEFIT INTEREST RATE. The annual rate at which the Guaranteed Death Benefit is calculated.
GUARANTEED DEATH BENEFIT INTEREST RATE. The Guaranteed Death Benefit Interest Rate is 5%, except for any valuation period ending after the Certificate Anniversary on which the Owner attains age 90, or after the Maximum Guaranteed Death Benefit has been reached, the Guaranteed Death Benefit Interest Rate is 0%.
GUARANTEED DEATH BENEFIT INTEREST RATE. The Guaranteed Death Benefit Interest Rate is 5%, except for any valuation period ending after the Certificate Anniversary on which the Owner attains age 90, or after the Maximum Guaranteed Death Benefit has been reached, the Guaranteed Death Benefit Interest Rate is 0%. Maximum Guaranteed Death Benefit The Maximum Guaranteed Death Benefit is equal to three times premium paid plus Initial Credits, reduced by the amount of any Partial Withdrawal Adjustments. The Maximum Guaranteed Death Benefit is allocated proportionally based on the Certificate's allocation to Special and non-Special funds. Transfers and withdrawals will affect the allocation of the Maximum Guaranteed Death Benefit at the same proportion among the xxxxx://xxx.xxx.xxx/Archives/xxxxx/data/836687/000083727601500345/mastercontract.txt 11/18/2016 Special and non-Special Funds that they bear to the Accumulation Value transferred or withdrawn. Any addition due to spousal continuation will not affect the Maximum Guaranteed Death Benefit or the Guaranteed Death Benefit Base. Prorata Partial Withdrawal Adjustments For any partial withdrawal, the Death Benefit components will be reduced by Prorata Partial Withdrawal Adjustments The Prorata Partial Withdrawal Adjustment to a Death Benefit component is equal to (1) divided by (2), multiplied by (3), where: (1) is the Accumulation Value withdrawn; (2) is the Accumulation Value immediately prior to withdrawal; and (3) is the amount of the applicable Death Benefit component immediately prior to the withdrawal. Separate adjustments will apply to the amounts in the Special and non-Special Funds.
GUARANTEED DEATH BENEFIT INTEREST RATE. The Guaranteed Death Benefit Interest Rate is [7%] compounded annually, except: (a) For any portion of the Guaranteed Death Benefit attributable to Accumulation Value allocated to Special Funds, the Guaranteed Death Benefit Interest Rate is the lesser of: (1) [7%] (compounded annually) and (2) the interest rate, positive or negative, providing a yield on the Guaranteed Death Benefit for Special Funds equal to the net return for the current valuation period on the Accumulation Value allocated to Special Funds; and (b) For any valuation period ending after the contract anniversary on which the Owner attains age [80], or after the Maximum Guaranteed Death Benefit has been reached, the Guaranteed Death Benefit Interest Rate is [0%]. GA-IA-1059 3D2 THE SCHEDULE CONTRACT FACTS (continued) -------------------------------------------------------------------------- |--------------------------------------------------------------------------| | Annuitant Owner | | [XXXXXX X. XXX] [XXXX X. XXX] | |--------------------------------------------------------------------------| | Initial Premium Annuity Option Annuity Commencement Date| | [$10,000] [LIFE 10-YEAR CERTAIN] [JANUARY 1, 2053] | |--------------------------------------------------------------------------| | Separate Account(s) Contract Number | | [SEPARATE ACCOUNT B] [123456] | |--------------------------------------------------------------------------| SPECIAL FUNDS Special Funds are [the Liquid Assets Division, the Limited Maturity Bond Division, the Fixed Allocations, and the Guaranteed Interest Division]. The Company reserves the right to classify newly available divisions as Special Funds from the date of their availability to the Owner. The Company may reclassify an existing division as a Special Fund or remove such designation. Such reclassification shall be made with 30 days notice to contract owners, and will apply to amounts transferred or otherwise added to such division after the date of change. MAXIMUM GUARANTEED DEATH BENEFIT The Maximum Guaranteed Death Benefit is equal to [three] times premium paid reduced by the amount of any Special and Prorata Partial Withdrawal Adjustments. Any addition due to spousal continuation will not affect the Maximum Guaranteed Death Benefit or the Guaranteed Death Benefit.

Related to GUARANTEED DEATH BENEFIT INTEREST RATE

  • Death Benefit Amount The Death Benefit Amount as of any Business Day prior to the Annuity Date is equal to the greater of:

  • Death Benefit Should Employee die during the term of employment, the Company shall pay to Employee's estate any compensation due through the end of the month in which death occurred.

  • Accrued Benefit 1.05 1.16 Nonforfeitable ............................................. 1.05 1.17 Plan Year/Limitation Year .................................. 1.05 1.18 Effective Date ............................................. 1.05 1.19 Plan Entry Date ............................................ 1.05 1.20

  • Death During Payment of a Benefit If the Executive dies after any benefit payments have commenced under Article 2 of this Agreement but before receiving all such payments, the Company shall pay the remaining benefits to the Beneficiary at the same time and in the same amounts they would have been paid to the Executive had the Executive survived.

  • Pre-Retirement Death Benefit 4.1 (a) Normal form of payment. If (i) the Director dies while employed by the Bank, and (ii) the Director has not made a Timely Election to receive a lump sum benefit, this Subsection 4.1(a) shall be controlling with respect to pre-retirement death benefits. The balance of the Director=s Retirement Income Trust Fund, measured as of the later of (i) the Director=s death, or (ii) the date any final lump sum Contribution is made pursuant to Subsection 2.1(b), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable for the Payout Period. Such benefits shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is less than the rate of return used to annuitize the Retirement Income Trust Fund, no additional contributions to the Retirement Income Trust Fund shall be required by the Bank in order to fund the final benefit payment(s) and make up for any shortage attributable to the less-than-expected rate of return. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is greater than the rate of return used to annuitize the Retirement Income Trust Fund, the final benefit payment to the Director=s Beneficiary shall distribute the excess amounts attributable to the greater-than-expected rate of return. The Director=s Beneficiary may request to receive the unpaid balance of the Director=s Retirement Income Trust Fund in a lump sum payment. If a lump sum payment is requested by the Beneficiary, payment of the balance of the Retirement Income Trust Fund in such lump sum form shall be made only if the Director=s Beneficiary notifies both the Administrator and trustee in writing of such election within ninety (90) days of the Director=s death. Such lump sum payment shall be made within thirty (30) days of such notice. The Director=s Accrued Benefit Account (if applicable), measured as of the later of (i) the Director's death or (ii) the date any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account pursuant to Subsection 2.1(c), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable to the Director's Beneficiary for the Payout Period. Such benefit payments shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death, or if later, within thirty (30) days after any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account in accordance with Subsection 2.1(c).

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • Supplemental Retirement Benefit In addition to the foregoing, Executive shall be eligible to participate in the Supplemental Executive Retirement Plan maintained by Cleco Utility Group Inc. or such other supplemental retirement benefit plans which the Company or its Affiliates may adopt, from time to time, for similarly situated executives (the "Supplemental Plan").

  • Regular Benefits The Executive shall also be entitled to participate in any and all employee benefit plans, medical insurance plans, life insurance plans, disability income plans, retirement plans, bonus incentive plans and other benefit plans from time to time in effect for senior executives of the Employer. Such participation shall be subject to (i) the terms of the applicable plan documents, (ii) generally applicable policies of the Employer and (iii) the discretion of the Board of Directors of the Employer or any administrative or other committee provided for in or contemplated by such plan.

  • PAYMENT OF DEATH BENEFIT The Company will require due proof of death before any death benefit is paid. Due proof of death will be:

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

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