Common use of Indexed Account Clause in Contracts

Indexed Account. An account that We establish, subject to the terms of this Contract. INDEXED ANNIVERSARY DATE -- The same calendar month and day as the Initial Start Date under this Contract, each calendar year. If in any calendar year such Indexed Anniversary Date is not a Valuation Date, any transactions involving the Indexed Accounts that should have occurred on the Indexed Anniversary Date will be processed by Us on the first Valuation Date following that Indexed Anniversary Date. INDEX VALUE -- The published closing value of an Index on a Valuation Date. If an Index Value is not published for a particular day, We will use the closing Index Value on the next day it is published. In the event that the Index Value for an Index is not published on a particular day when the Index Values for other indexes available with this Contract are published, We will use the closing Index Value for that Index as of the day it was last published. INITIAL START DATE -- The same Valuation Date as the Contract Date. This Contract will only have one Initial Start Date and once set, the date will not change. INTERIM VALUE -- The value that We establish for each Segment of a particular Indexed Account, on any Valuation Date following its Start Date, and prior to its End Date. The method for determining the Interim Value for a Segment of a particular Indexed Account is described in any Indexed Accounts Rider attached to this Contract. IRREVOCABLE BENEFICIARY -- A Beneficiary whose interest cannot be changed without that person’s consent. If the Beneficiary is designated as an Irrevocable Beneficiary, the Owner must receive written consent from the Beneficiary to exercise any right or option under this Contract. MATURITY DATE -- The date on which Annuity Payments must commence. The Maturity Date is shown on the Contract Specifications and is based on the original Annuitant’s date of birth. NATURAL PERSON -- A human being. NON-NATURAL PERSON -- A trust, corporation, partnership, or association. NOTICE, ELECTION OR REQUEST -- A Notice, Election, or Request to Us is any form of communication providing information, either in writing, or another manner acceptable to Us. Such communication must be received in Good Order and must include all required information necessary to be processed by Us. To be effective for any Valuation Date, a Notice, Election, or Request must be received in Good Order prior to the end of that Valuation Date. Any Notice from Us to the Owner or any other person, is a communication either in writing, or another manner acceptable to Us, to such person at the most recent address shown in Our records. A Notice, Election, or Request is not binding on any payment or action We make before receiving such communication in Good Order. OWNER -- The one Natural Person, two Natural Persons or an entity who exercises rights of ownership under this Contract. If two Natural Persons are named as Owners, all references to Owner means Joint Owner. An Owner is shown on the Contract Specifications. DEFINITIONS (continued) PROTECTION LEVEL -- The maximum percentage of loss that will be excluded when determining the Performance Rate on the End Date for certain Indexed Accounts, if the Percentage Change in the Index Value on that End Date is negative. The Performance Rate is determined as described in any Indexed Accounts Rider attached to this Contract. The Protection Level is expressed as a positive percentage. SEGMENT(S) -- The specific Indexed Account option(s) established for the Owner under this Contract as described in any Indexed Accounts Rider attached to this Contract. A new Segment is established when an allocation or a reallocation is made to an Indexed Account.

Indexed Account. An account that We establish, subject to the terms of this Contract. INDEXED ANNIVERSARY DATE -- The same calendar month and day as the Initial Start Date under this Contract, each calendar year. If in any calendar year such Indexed Anniversary Date is not a Valuation Date, any transactions involving the Indexed Accounts that should have occurred on the Indexed Anniversary Date will be processed by Us on the first Valuation Date following that Indexed Anniversary Date. INDEX VALUE -- The published closing value of an Index on a Valuation Date. If an Index Value is not published for a particular day, We will use the closing Index Value on the next day it is published. In the event that the Index Value for an Index is not published on a particular day when the Index Values for other indexes available with this Contract are published, We will use the closing Index Value for that Index as of the day it was last published. INITIAL START DATE -- – The same Valuation Date as the Contract Date. This Contract will only have one Initial Start Date and once set, the date will not change. INTERIM VALUE -- The value that We establish for each Segment of a particular Indexed Account, on any Valuation Date following its Start Date, and prior to its End Date. The method for determining the Interim Value for a Segment of a particular Indexed Account is described in any Indexed Accounts Rider attached to this Contract. IRREVOCABLE BENEFICIARY -- A Beneficiary whose interest cannot be changed without that person’s consent. If the Beneficiary is designated as an Irrevocable Beneficiary, the Owner must receive written consent from the Beneficiary to exercise any right or option under this Contract. MATURITY DATE -- The date on which Annuity Payments must commence. The Maturity Date is shown on the Contract Specifications and is based on the original Annuitant’s date of birth. NATURAL PERSON -- A human being. NON-NATURAL PERSON -- A trust, corporation, partnership, or association. NOTICE, ELECTION OR REQUEST -- A Notice, Election, or Request to Us is any form of communication providing information, either in writing, or another manner acceptable to Us. Such communication must be received in Good Order and must include all required information necessary to be processed by Us. To be effective for any Valuation Date, a Notice, Election, or Request must be received in Good Order prior to the end of that Valuation Date. Any Notice from Us to the Owner or any other person, is a communication either in writing, or another manner acceptable to Us, to such person at the most recent address shown in Our records. A Notice, Election, or Request is not binding on any payment or action We make before receiving such communication in Good Order. OWNER -- The one Natural Person, two Natural Persons or an entity who exercises rights of ownership under this Contract. If two Natural Persons are named as Owners, all references to Owner means Joint Owner. An Owner is shown on the Contract Specifications. DEFINITIONS (continued) PROTECTION LEVEL -- The maximum percentage of loss that will be excluded when determining the Performance Rate on the End Date for certain Indexed AccountsDate, if the Percentage Change in the Index Value on that End Date is negative. The Performance Rate is determined as described in any Indexed Accounts Rider attached to this Contract. The Protection Level is expressed as a positive percentage. SEGMENT(S) -- The specific Indexed Account option(s) established for the Owner under this Contract as described in any Indexed Accounts Rider attached to this Contract. A new Segment is established when an allocation or a reallocation is made to an Indexed Account.