Common use of HOW WILL Clause in Contracts

HOW WILL. VARIABLE The dollar amount of the initial variable INCOME PAYMENT income payment attributable to each subaccount VALUES BE will be determined by dividing the amount DETERMINED? applied by $1,000, and multiplying the result by the applicable option rate shown in Section 16. The total initial variable income payment is the sum of the initial variable income payments attributable to the subaccount(s). The dollar amount of the subsequent variable income payments attributable to each subaccount will be based on the number of income units credited to the contract for that subaccount and is determined by multiplying (a) by (b), where: (a) = the number of subaccount income units; and (b) = the subaccount income unit value for the valuation period immediately preceding the due date of the payment. The number of income units attributable to each subaccount remains fixed unless there is an exchange of income units. The number of income units is derived by dividing that portion of the initial variable income payment attributable to the subaccount by the subaccount's income unit value for the valuation period which ends immediately preceding the payout date. The income unit value for each subaccount was arbitrarily set initially at $100. Thereafter, the income unit value for each subaccount in any valuation period is determined by dividing (a) by (b), then multiplying by (c) and adjusting the result to compensate for the assumed net investment rate for the option selected, where: a.) is the accumulation unit value for the current valuation period; b.) is the accumulation unit value for the immediately preceding valuation period; and c.) is the income unit value for the immediately preceding valuation period. Payments after the initial payment may increase, decrease or remain constant based on whether the actual annualized investment return of the selected subaccount(s) is greater or less than the assumed net investment rate for the option selected. The option rates used to determine the initial variable income payment (shown in Section 16) are based on an assumed net investment rate of 3.50% per year.

HOW WILL. VARIABLE The dollar amount of the initial variable INCOME PAYMENT income payment attributable to each subaccount VALUES BE will be determined by dividing the amount DETERMINED? applied by $1,000, and multiplying the result by the applicable option rate shown in Section 1617. The total initial variable income payment is the sum of the initial variable income payments attributable to the subaccount(s). The dollar amount of the subsequent variable income payments attributable to each a subaccount will be based on the number of income units credited to the contract for that subaccount and is determined by multiplying (a) by (b), where: (aa.) = is the number of subaccount income units; and (bb.) = is the subaccount income unit value for the valuation period immediately preceding the due date of the payment. The number of income units attributable to each subaccount remains fixed unless there is an exchange of income units. The number of income units is derived by dividing that portion of the initial variable income payment attributable to the subaccount by the subaccount's income unit value for the valuation period which ends immediately preceding the payout date. The income unit value for each subaccount was arbitrarily set initially at $100. Thereafter, the income unit value for each subaccount in any valuation period is determined by dividing (a) by (b), then multiplying by (c) and adjusting the result to compensate for the assumed net investment rate for the option selectedof 3.50%, where: a.) is the accumulation unit value for the current valuation period; b.) is the accumulation unit value for the immediately preceding valuation period; and c.) is the income unit value for the immediately preceding valuation period. Payments ; With an assumed net investment rate of 3.50% per year, payments after the initial payment may increase, decrease or remain constant based on whether the actual annualized investment return of the selected subaccount(s) is greater or less than the assumed net investment rate for the option selected. The option rates used to determine the initial variable income payment (shown in Section 16) are based on an assumed net investment rate of 3.50% per year.

HOW WILL. VARIABLE The dollar amount of the initial variable income INCOME PAYMENT income payment attributable to each subaccount will be VALUES BE will be determined by dividing the amount applied by DETERMINED? applied by $1,000, and multiplying the result by the applicable option rate shown in Section 16. The total initial variable income payment is the sum of the initial variable income payments attributable to the subaccount(s). The dollar amount of the subsequent variable income payments attributable to each subaccount will be based on the number of income units credited to the contract for that subaccount and is determined by multiplying (a) by (b), where: (a) = the number of subaccount income units; and (b) = the subaccount income unit value for the valuation period immediately preceding the due date of the payment. The number of income units attributable to each subaccount remains fixed unless there is an exchange of income units. The number of income units is derived by dividing that portion of the initial variable income payment attributable to the subaccount by the subaccount's income unit value for the valuation period which ends immediately preceding the payout date. The income unit value for each subaccount was arbitrarily set initially at $100. Thereafter, the income unit value for each subaccount in any valuation period is determined by dividing (a) by (b), then multiplying by (c) and adjusting the result to compensate for the assumed net investment rate for the option selected, where: a.) is the accumulation unit value for the current valuation period; b.) is the accumulation unit value for the immediately preceding valuation period; and c.) is the income unit value for the immediately preceding valuation period. Payments after the initial payment may increase, decrease or remain constant based on whether the actual annualized investment return of the selected subaccount(s) is greater or less than the assumed net investment rate for the option selected. The option rates used to determine the initial variable income payment (shown in Section 16) are based on an assumed net investment rate of 3.50% per year.